Welcome to Markets Desk, your end-of-week wrap on the stories moving money and markets.
SpaceX made history this week, pulling off what many are calling the most consequential IPO ever — raising seventy-five billion dollars and minting Elon Musk as the world's first trillionaire. The offering bucked conventional Wall Street mechanics and executed cleanly, leaving bankers and investors with little to complain about.
Shifting to energy, crude oil extended its losses on Friday, with West Texas Intermediate falling more than three percent as reports of a potential US-Iran interim peace agreement circulated through the market. That's two straight sessions of sharp selling — down more than six percent combined — as traders price in the possibility of Iranian supply returning to global markets.
On the media and regulatory front, Paramount Skydance received Department of Justice clearance to acquire Warner Bros. Discovery, a deal that would reshape the streaming and studio landscape considerably. The green light from antitrust regulators removes the biggest remaining obstacle, putting David Ellison in position to close what would be one of the largest media combinations in recent memory.
That's the tape. Markets Desk, signing off the floor.
