Good afternoon and welcome to Markets Desk.
SpaceX made history this week, raising seventy-five billion dollars in its initial public offering and vaulting to a two-point-one trillion dollar market cap on day one. That record didn't last long — shares are surging again in premarket trading, pushing the valuation toward two-point-seven-five trillion, which would place SpaceX fifth among the world's most valuable companies, trailing only Nvidia, Google, Apple, and Microsoft. Remarkably, Wall Street's first sell rating landed within the hour of opening trade, a reminder that gravity eventually finds everything.
Staying with SpaceX, CNBC takes a long look at Gwynne Shotwell, the president and chief operating officer widely credited with building the commercial and operational infrastructure that made this IPO possible. While Elon Musk commands the headlines, Shotwell has spent two decades translating vision into contracts, launch cadence, and institutional credibility — the unglamorous work that actually gets a company to the public markets.
Shifting to commodities, Goldman Sachs has cut its oil price target to align with current market levels, citing the likelihood that a peace deal is already priced in. The bank acknowledges the risk is two-sided but notes the global economy absorbed the largest oil production shock in recent history with surprising flexibility — a cautious signal that supply assumptions may need revisiting.
That's the tape. Markets Desk, signing off the floor.
