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Good afternoon and welcome to Markets Desk.
Wall Street is eyeing what could be the largest underwriting payday in IPO history as SpaceX moves closer to a public offering. Bankers stand to collect fees approaching one billion dollars on the deal, a figure that would eclipse every prior record and reflects just how massive Elon Musk's rocket and satellite company has become.
Shifting to Washington, President Trump has dropped his ten billion dollar lawsuit against the IRS. The suit, filed in late January, stemmed from the leak of his tax returns by a former IRS contractor named Charles Littlejohn, who accessed the records in twenty nineteen and twenty twenty. The decision to withdraw removes one of the more high-profile legal flashpoints between the administration and the federal tax agency.
And in closed-end funds, a name carrying a nine point four percent dividend yield is drawing fresh attention after trading at a fifteen percent discount to its net asset value. With equities broadly higher and income-seeking investors growing more selective, that gap between price and underlying value is the kind of setup that tends to attract serious capital in a rate-sensitive environment.
That's the tape. Markets Desk, signing off the floor.["https://www.marketwatch.com/story/wall-street-is-set-to-reap-a-fee-bonanza-from-the-spacex-ipo-that-could-reach-1-billion-13f6c906?mod=mw_rss_topstories","https://www.nasdaq.com/articles/too-good-be-true-no-way-94-dividend-15","https://www.nasdaq.com/articles/ars-pharma-spry-q1-2026-earnings-transcript","https://www.cnbc.com/2026/05/18/trump-dismiss-irs-lawsuit.html","https://www.forbes.com/sites/paultassi/2026/05/18/the-boys-showrunner-explains-why-gen-vs-god-supe-cant-kill-homelander/","https://www.businessinsider.com/most-iconic-famous-barbecue-restaurant-in-every-state","https://www.forbes.com/sites/peterchawaga/2026/05/18/mets-bo-bichette-offers-4-word-response-on-new-lows-after-blue-jays-exit/","https://fortune.com/2026/05/18/moviegoers-still-hungry-for-sanitized-michael-jackson-biopic-knocking-devil-wears-prada-2-off-top-spot/"]
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