SpaceX IPO Makes Elon Musk the World's First Trillionaire
Stocks closed broadly higher after one of the most hotly-anticipated IPOs of all time as Elon Musk's SpaceX went public, making Musk the world's first trillionaire in the process. The market advance was also driven by a combination of easing geopolitical fears, a sharp decline in oil prices, and continued enthusiasm around AI-related stocks.President Trump indicated that an Iran peace agreement could be signed as soon as this weekend, causing crude oil to tumble below $90 per barrel. Lower oil prices are helping calm inflation fears after this week's hotter-than-expected CPI and PPI reports. Markets are betting that if energy prices continue falling, some of the inflation pressure could ease in coming months.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXopened at $150 after its, making Elon Musk the world's first trillionaireAdobeprovided areport for Q2Astera Labs, CoreWeave, Nebius, Rocket Lab, and Terodynehave been, while Charter, Cognizant, Insmed, Verisk, and Zscalerhave been removed from the indexLennarreportedRoku (ROKU) is in talks about combining with a U.S. media company,2. WALL STREET CALLS:AMDto Buy at CitiAdobeat Stifel, Wolfe and Evercore after annual recurring revenue outlook resetKratos Defenseto Overweight at JPMorganTravelersto Underweight at BarclaysSailPointto Neutral at BofA3. AROUND THE WEB:SpaceX rented out Colossus 1 after latency issues, Bloomberg reportsMicrosofthas considered spinning out or restructuring its Xbox business, The Information reportsAmazon'snewly launched national LTL network provides a strong economy-tier freight platform, but acquiring Forward Aircould quickly add a premium expedited offering, FreightWaves saysMetahas completed an operational split from Manus and halted data sharing between the two companies, Bloomberg saysGoogleis in talks with Samsungto manufacture a memory input-output die for Icefish, its 10th-generation TPU, and TSMCwill make the computing engine, The Information reports4. MOVERS:Rezolvegains in New York after announcing aand its board moved to approve a capital reductionForward Airincreases after FreightWavesthe company could be a "complementary fit" for Amazon'sLTL offeringNokiahigher in New York after JPMorganon the stock to $21 from $14Richtech Roboticsfalls after an audit committee said the company willfor FY24 and FY25Carvanadeclines after RBC Capitalto $85 from $925. EARNINGS/GUIDANCE:51Talk Online Education, with EPS lower year-over-yearLaser Photonics, with CEO Wayne Tupuola commenting, "Q1 was a period of decisive strategic and financial progress"Zedge, with EPS and revenue higher year-over-yearFriedman Industriesand provided guidance for Q1RH, provided guidance for Q1, and raised its outlook for FY26INDEXES:The Dow rose 353.51, or 0.70%, to 51,202.26, the Nasdaq gained 79.18, or 0.31%, to 25,888.84, and the S&P 500 advanced 37.16, or 0.50%, to 7,431.46.
