Welcome to Markets Desk, here's what's moving the tape right now.
SpaceX shares have broken below their IPO price for the first time, a jarring milestone for a company that was recently the talk of Wall Street. The stock has shed more than eight hundred billion dollars in market value from its peak just a month ago, a reminder that even the most celebrated names are not immune to gravity.
Shifting to the macro picture, the dollar is softer today after June producer prices came in below expectations, reinforcing the cooler inflation signal we got from this week's CPI print. The dollar index is off about twelve basis points, and Fed rate hike odds are fading further. Markets are reading this as the Fed holding steady, and bond traders are adjusting accordingly.
Meanwhile, the Social Security Administration is projecting a cost of living adjustment of roughly three point eight percent for two thousand twenty seven, which would translate to about seventy four additional dollars per month for the average beneficiary. With inflation showing signs of cooling, that figure could shift before it's finalized, but for retirees on fixed income, it's a meaningful number to watch.
That's the tape. Markets Desk, signing off the floor.
