Good morning, you're tuned in to Markets Desk, let's get you caught up on what's moving.
Bayer scored a significant legal victory at the Supreme Court, which ruled it harder for plaintiffs to sue over glyphosate, the active ingredient in Monsanto's Roundup weedkiller. The decision narrows the litigation pathway that had exposed Bayer to billions in liability, and expect the stock to respond accordingly.
Shifting to geopolitics with direct market implications, the IAEA says technical work has begun following an interim agreement granting inspectors renewed access to Iranian nuclear sites. IAEA chief Rafael Grossi confirmed inspectors expect to be on the ground shortly. Any de-escalation in that program historically takes pressure off oil risk premiums, so energy traders will be watching this closely.
And in private markets, Morningstar has put a fair value of sixty-two dollars on SpaceX, against a current trading price of one hundred fifty-seven dollars — a gap representing roughly one point two trillion dollars in contested valuation. Morningstar is essentially arguing the market is pricing in a future that even optimistic fundamentals struggle to justify, and that kind of divergence rarely resolves quietly.
That's the tape. Markets Desk, signing off the floor.
