CNBC — 2026-06-13#

Lead Story#

SpaceX delivered the largest IPO in history, debuting at $150 and closing near $161 to cement a $2.1 trillion market cap and make CEO Elon Musk the world’s first trillionaire. The historic float raised $75 billion, wiping away fears that the massive equity supply would drain liquidity from the broader market.

Markets & Economics#

The major indexes finished a choppy week on a high note, with the S&P 500 gaining 0.5% Friday for a 0.7% weekly advance. Inflation data came in hot, with the May CPI hitting 4.2% year-over-year largely due to Iran-war-driven oil spikes, though market anxiety was cooled by signals that a U.S.-Iran peace deal could be signed as early as Sunday, potentially reopening the Strait of Hormuz. Investors are now looking ahead to the Federal Reserve’s upcoming policy meeting—the first under Chairman Kevin Warsh—to see how the central bank navigates inflation pressures and President Trump’s push for lower rates.

Business & Earnings#

Big tech and AI infrastructure continue to drive corporate strategy, highlighted by Corning landing a multi-billion dollar optical fiber deal with Amazon for its data centers, and Oracle announcing a $20 billion raise to fund its own AI buildout. In the artificial intelligence arms race, Anthropic abruptly disabled access to its new Fable 5 and Mythos 5 models following a U.S. government national security directive. Elsewhere in tech, Rivian CEO RJ Scaringe unveiled Mind Robotics, a $1 billion humanoid robot startup that will operate independently from the EV maker. Meanwhile, geopolitical tensions escalated in the corporate sphere as Beijing condemned the Pentagon for adding major Chinese tech firms, including Alibaba, Baidu, and BYD, to a military-linked blacklist.

Investing & Commentary#

SpaceX’s dominant launch business “moat” earned it an Outperform rating and a $175 price target from Wolfe Research, while TD Securities noted the stock will see further passive inflows when it gets added to the Nasdaq 100 around July 6. Playing the IPO from a different angle, Baird recommended wealth advisor Andersen Group as a prime beneficiary of the thousands of new millionaires minted by SpaceX. Outside of aerospace, Goldman Sachs advised clients that Nvidia still has plenty of room to run into 2027, and highlighted defensive software growth in Samsara.

Also Worth Watching#

• Drugmakers race to find a place in the next wave of obesity drugs: Eli Lilly, Novo Nordisk, and a wave of new entrants showcased future weight-loss pills and less-frequent injections at the American Diabetes Association sessions.
• Switzerland is voting on whether to cap its population at 10 million: A Sunday referendum on strict immigration caps threatens the country’s free movement agreement with the EU and alarms multinational corporations.
• OpenAI says it’s engaging ‘constructively’ with state AGs about concerns: The AI giant faces a multi-state investigation and subpoenas regarding its handling of consumer data and minor safety.
• Trump says Iran deal will be signed Sunday, Strait of Hormuz to open: U.S. President Trump claimed an agreement to end the war is imminent, though Iranian state media remained cautious on the timeline.