Public Markets 24 Hours

Last updated: June 13, 2026, 11:32 AM ET

Space & Tech IPOs

SpaceX shares began trading on Friday in what bankers called the largest IPO in history, with JPMorgan Chase hosting branded events serving tomahawk steaks and "The Future is Public" cocktails to investors. The listing triggered selloffs across other space stocks including rocket and satellite companies, while options contracts are set to begin trading Tuesday. Tesla investor Alexandra Merz avoided purchasing SpaceX shares anticipating an eventual merger between the two Musk-controlled entities. The IPO demonstrates Musk's dominance in transmuting public imagination into Wall Street capital, with analysts projecting that Anthropic and OpenAI could join SpaceX in minting approximately 20 new billionaires through their own offerings within months.

Energy Markets

Oil prices touched three-month lows after President Trump signaled a potential Iran deal was within reach, with crude futures falling sharply as traders priced in easing supply disruptions. Chevron CEO Mike Wirth indicated openness to expanding Middle East operations despite ongoing Iran conflict disrupting global energy markets. JBS NV announced closure of its Pennsylvania beef plant amid severe U.S. cattle shortages, while Dangote's Nigerian refinery boosted domestic crude intake after overseas buyers pulled back from West African grades. The strategic dilemma of draining global oil reserves raises pressure for diplomatic resolution as businesses and governments draw down stored supplies at accelerating rates.

AI & Technology Infrastructure

Anjney Midha's AMP PBC plans to radically lower compute costs by turning GPUs into utilities, potentially reshaping the economics of artificial intelligence infrastructure. Samsung factory workers received windfall bonuses that transformed their South Korean town into a luxury hotspot, with property prices and department store purchases spiking on AI-driven profits. Corning CEO Wendell Weeks rides the AI boom while hedging against potential bust scenarios, drawing lessons from the dot-com crash to diversify data-center investments. Palantir lost a legal challenge against a Swiss investigative magazine over reports that Switzerland rejected its approaches, highlighting ongoing regulatory tensions for data intelligence firms.

Prediction Markets & Sports Betting

Kalshi co-founder Lopes Lara turned celebrity gossip into billions by leveraging Kylie Jenner buzz to spark interest in prediction markets, while navigating legal battles and receiving Jay-Z's advice on market positioning. The World Cup could become the biggest sports gambling event ever, with Fan Duel and Draft Kings counting on the tournament to drive a projected $10 billion betting boom that fuels market gamification. Companies grapple with whether to rein in employee prediction market wagers that could exploit confidential information, creating a corporate compliance predicament. A student's surefire Polymarket bet went to zero after unilateral clarifications over disputed betting contracts upset traders.

Banking & Financial Services

Citigroup CEO Jane Fraser became a dame in King's birthday honours while Goldman Sachs and JPMorgan eased office work rules to accommodate World Cup viewing, allowing employees to request remote work on match days. Apollo Global selected Austin as its second headquarters over Miami and Palm Beach, citing capacity constraints in Florida's private schools. Private equity executive Matt Holt's Thoreau Group neared a $12 billion deal for Ensemble Health Partners, while Lionheart Capital and Keo Energy created a Nasdaq-listed vehicle to pursue $100 billion in Venezuelan oil assets alongside Trump's investment push.

Fixed Income & Currency Markets

Traders turned most optimistic on the U.S. dollar in over a year as Middle East tensions support the currency's safe-haven status, while Bundesbank President Joachim Nagel warned prices may stay elevated even if Iran conflict ends soon. U.S. natural gas futures posted weekly losses despite small daily gains, with cooling weather forecasts limiting power-sector demand. European defense stocks retreated on lower spending commitments and increased political wrangling following UK defense secretary resignation, while France's winter soft wheat and barley yields appear slightly better than last season despite adverse weather conditions.

Consumer & Market Sentiment

Bath & Body Works plans to win younger consumers through influencer hiring, store updates, and digital sales revamps under CEO Daniel Heaf's strategy overhaul. Jeep owners face growing recall reality with one million vehicles affected by park-outside fire campaigns. The Boston Symphony grapples with crisis over dismissal of conductor Andris Nelsons, with president Chad Smith admitting missteps but refusing to step down. Roku Inc. entered sale talks including possible media tie-ups as the streaming platform seeks strategic alternatives amid intensifying competition.