Welcome to Markets Desk, here's what's moving the conversation this afternoon.
SpaceX is commanding serious attention ahead of what could be one of the most consequential IPOs in a generation. The projected valuation would place Elon Musk's rocket company among the most valuable publicly traded entities on earth, a number that's jarring even by today's stretched market standards, and raising real questions about price discovery in private-to-public transitions.
Shifting to commodities, soybeans are holding Wednesday's gains into the close, with the cmdtyView national cash price settling around ten dollars and sixty-eight and a half cents, up more than ten cents on the session. Soy oil futures added to the move while soymeal lagged, but the broader complex is finding support after a rough stretch driven by trade uncertainty.
And in Texas, Governor Greg Abbott is turning the page on the state's data center courtship era. Abbott is now pushing regulations that would require data centers to absorb their own energy costs rather than passing them onto residential ratepayers. It's a meaningful policy pivot in a state that aggressively recruited that infrastructure, and it signals growing political pressure on AI-driven power demand nationwide.
That's the tape. Markets Desk, signing off the floor.
