CNBC — 2026-06-11#

Lead Story#

SpaceX’s record-setting $75 billion IPO is officially set to debut on the Nasdaq, pricing at $135 a share for a $1.77 trillion valuation in a monumental test of investor appetite for “strategic tech”.

Markets & Economics#

The European Central Bank hiked its key interest rate to 2.25%, marking its first hike since 2023 as the protracted U.S.-Iran war drives up energy costs. In the U.S., the May Producer Price Index reflected this same energy shock, rising a hotter-than-expected 1.1% to push the 12-month wholesale inflation rate to 6.5%. Markets experienced severe whiplash; the Dow initially plunged over 900 points as U.S. forces launched fresh strikes on Iranian targets and President Trump threatened to seize Kharg Island. However, stocks rallied and oil sank after Trump abruptly canceled Thursday evening’s strikes and claimed a peace settlement was subject to finalization.