CME GROUP TO EXPAND 24/7 TRADING FOR WTI CRUDE OIL AND GOLD
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IRANIAN STATE MEDIA: EXPLOSION HEARD NEAR SIRIK COAST, ITS CAUSE AND SOURCE UNCLEAR
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TWO EXPLOSIONS HEARD IN IRAN'S BANDAR ABBAS, ITS SOURCE UNCLEAR -STATE MEDIA
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SPACEX IPO MAKES ELON MUSK THE WORLD'S FIRST TRILLIONAIRE
Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
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Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
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IRAN'S FARS CITING ITS REPORTER IN BANDAR ABBAS: IRANIAN FORCES DID NOT ALLOW 'VIOLATING TANKER' TO ENTER STRAIT OF HORMUZ WITHOUT COORDINATION TO PASS
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US AND IRAN NEARING A PEACE DEAL AROUND G7 MEETING NEXT WEEK
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$SPCX - SPACEX IPO: THE BIGGEST BET IN MARKET HISTORY
SpaceX is really three businesses under one stock:
Starlink is the profit engine, generating $11.4B in revenue and $4.4B in operating profit in 2025. Subscribers grew from 2.3M in 2023 to over 10M by early 2026.
SpaceX Launches generated $4.1B in revenue but lost money due to massive investment in Starship, the rocket intended to dramatically lower launch costs.
AI (xAI + X) generated $3.2B in revenue but lost $6.4B in 2025, consuming all of Starlink's profits and more.
Without AI, SpaceX was profitable. With AI, it lost nearly $5B in 2025 and another $4.3B in Q1 2026 alone.
The IPO values SpaceX at $1.77 trillion, but only 4.3% of shares will trade initially. That limited float could drive strong early demand and volatility while making true price discovery difficult.
Retail investors are getting access to just 1.3% of the company, while insiders and major funds remain largely locked up. Those restrictions begin easing within months, potentially increasing selling pressure.
SpaceX will not immediately join the S&P 500, as it currently fails key inclusion requirements, delaying an estimated $14B of passive index-fund buying.
The biggest risk is valuation. At roughly 90x sales, SpaceX is trading at a premium far above the largest technology companies. Historical IPO research shows that highly valued, low-float, unprofitable IPOs often deliver strong first-day gains but weaker long-term returns.
The bullish case is simple: SpaceX dominates satellite internet and commercial launches, and Starship could reshape the economics of space. The bearish case is that investors are paying an unprecedented price today for profits that may arrive years from now.
Bottom line: SpaceX may become one of the most important companies of the century. But this IPO looks designed to maximize demand in the short term, while much of the future selling pressure arrives later. For retail investors, the excitement is obvious—the risk is whether today's valuation already prices in most of the future success.
(@WalterBloomberg)
SpaceX is really three businesses under one stock:
Starlink is the profit engine, generating $11.4B in revenue and $4.4B in operating profit in 2025. Subscribers grew from 2.3M in 2023 to over 10M by early 2026.
SpaceX Launches generated $4.1B in revenue but lost money due to massive investment in Starship, the rocket intended to dramatically lower launch costs.
AI (xAI + X) generated $3.2B in revenue but lost $6.4B in 2025, consuming all of Starlink's profits and more.
Without AI, SpaceX was profitable. With AI, it lost nearly $5B in 2025 and another $4.3B in Q1 2026 alone.
The IPO values SpaceX at $1.77 trillion, but only 4.3% of shares will trade initially. That limited float could drive strong early demand and volatility while making true price discovery difficult.
Retail investors are getting access to just 1.3% of the company, while insiders and major funds remain largely locked up. Those restrictions begin easing within months, potentially increasing selling pressure.
SpaceX will not immediately join the S&P 500, as it currently fails key inclusion requirements, delaying an estimated $14B of passive index-fund buying.
The biggest risk is valuation. At roughly 90x sales, SpaceX is trading at a premium far above the largest technology companies. Historical IPO research shows that highly valued, low-float, unprofitable IPOs often deliver strong first-day gains but weaker long-term returns.
The bullish case is simple: SpaceX dominates satellite internet and commercial launches, and Starship could reshape the economics of space. The bearish case is that investors are paying an unprecedented price today for profits that may arrive years from now.
Bottom line: SpaceX may become one of the most important companies of the century. But this IPO looks designed to maximize demand in the short term, while much of the future selling pressure arrives later. For retail investors, the excitement is obvious—the risk is whether today's valuation already prices in most of the future success.
(@WalterBloomberg)
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CHINA DETAINS U.S. CITIZEN IN ESPIONAGE CASE
China has detained U.S. citizen U Min Zin on suspicion of espionage and threats to national security, according to the foreign ministry. Officials said the U.S. consulate in Guangzhou was notified. The announcement followed reports that Min Zin had gone missing in Kunming, southwest China, last week.
(@WalterBloomberg)
China has detained U.S. citizen U Min Zin on suspicion of espionage and threats to national security, according to the foreign ministry. Officials said the U.S. consulate in Guangzhou was notified. The announcement followed reports that Min Zin had gone missing in Kunming, southwest China, last week.
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IRANIAN FOREIGN MINISTRY SAYS A FRAMEWORK TEXT IS CLOSE TO BEING FINALIZED: IRNA
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IRAN'S IRNA: UNDER THE MOU WITH U.S, IRAN MAKES NO COMMITMENT REGARDING THE TRANSFER OF MANAGEMENT OF THE STRAIT OF HORMUZ
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IRAN'S IRNA: THE FUTURE ADMINISTRATION OF THE STRAIT WILL BE RESOLVED AS A REGIONAL MATTER THROUGH DIALOGUE AND JOINT DECISION-MAKING BETWEEN TEHRAN AND OMAN
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IRAN'S FOREIGN MINISTRY SAID THE TEXT REMAINS SUBJECT TO FINAL DECISION
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IRAN'S IRNA: NO AGREEMENT IS MADE REGARDING THE NUCLEAR FILE IN THE CURRENT MEMORANDUM
IRAN'S IRNA: NUCLEAR TALKS WILL TAKE PLACE WITHIN A 60-DAY PERIOD AFTER SIGNING
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IRAN'S IRNA: NUCLEAR TALKS WILL TAKE PLACE WITHIN A 60-DAY PERIOD AFTER SIGNING
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UBS CUTS GOLD TARGETS AS FED RATE CUTS DELAYED
UBS lowered its gold forecasts by $300–900 per ounce, citing stronger U.S. data and delayed Fed easing expectations. The bank sees near-term pressure pushing gold toward $3,850–4,000/oz as higher yields and a stronger dollar weigh on prices. However, UBS remains bullish over 12 months, citing future rate cuts, dollar weakness, and continued central bank gold buying.
(@WalterBloomberg)
UBS lowered its gold forecasts by $300–900 per ounce, citing stronger U.S. data and delayed Fed easing expectations. The bank sees near-term pressure pushing gold toward $3,850–4,000/oz as higher yields and a stronger dollar weigh on prices. However, UBS remains bullish over 12 months, citing future rate cuts, dollar weakness, and continued central bank gold buying.
(@WalterBloomberg)
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$SPCX - NASDAQ: IPO OF SPACEX TO BE RELEASED FOR QUOTATION AT 9:50AM ET
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$SHAZ - SHARON AI ANNOUNCES SIX YEAR STRATEGIC COMPUTE COLLABORATION WITH NVIDIA
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SK HYNIX LOOKS TO NASDAQ FOR U.S. SHARE LISTING, SOURCES SAY
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$TSLA - GLJ KEEPS TESLA ON SELL ALERT
GLJ Research analyst Gordon Johnson maintained a Sell rating on Tesla with a $24.86 price target. He expects Q2 deliveries to improve but argues the rebound reflects inventory clearing, seasonal demand, and easier comparisons—not renewed growth. Tesla’s record inventory levels and margin concerns remain key risks, keeping GLJ bearish on the stock.
(@WalterBloomberg)
GLJ Research analyst Gordon Johnson maintained a Sell rating on Tesla with a $24.86 price target. He expects Q2 deliveries to improve but argues the rebound reflects inventory clearing, seasonal demand, and easier comparisons—not renewed growth. Tesla’s record inventory levels and margin concerns remain key risks, keeping GLJ bearish on the stock.
(@WalterBloomberg)
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SAM ALTMAN CANCELS ABU DHABI TRIP
OpenAI CEO Sam Altman has called off a planned visit to Abu Dhabi, according to people familiar with the matter. He was expected to meet executives from Mubadala, G42, MGX, and ADNOC as OpenAI prepares for a public market debut. The cancellation comes amid regional tensions linked to the Iran conflict. The reason for the change remains unclear, and the companies involved declined to comment.
(@WalterBloomberg)
OpenAI CEO Sam Altman has called off a planned visit to Abu Dhabi, according to people familiar with the matter. He was expected to meet executives from Mubadala, G42, MGX, and ADNOC as OpenAI prepares for a public market debut. The cancellation comes amid regional tensions linked to the Iran conflict. The reason for the change remains unclear, and the companies involved declined to comment.
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META: TO DONATE RAY-BAN META GLASSES TO EVERY BLIND VETERAN IN AMERICA - WEBSITE
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