Market news
Crypto, stocks, forex and macro, aggregated for traders.
Societe Generale: Policy Mix Supports Yuan Amid Subdued Inflation
Societe Generale notes that China's May CPI at 1.2% and core at 1.1% indicate weak consumer demand, while PPI hit a four-year high, yet a supportive policy mix is expected to stabilize the yuan.
Dow Jones Rises 0.6% to Near 51,200, Outperforms Nasdaq
The Dow Jones Industrial Average climbed 0.6% to around 51,200 on Friday, outperforming other major US indices as the Nasdaq Composite declined.
SpaceX Stock Surges 30%, Market Cap Reaches $2.3 Trillion
SpaceX stock ($SPCX) surged over 30% to a fresh record high, giving it a market capitalization of $2.3 trillion and making it the 6th largest public company in the world.
Crypto Roundup: BlackRock ETF Update, Miner Capitulation, JPMorgan Hedge View
BlackRock updated its Bitcoin ETF application with a yield feature, on-chain data indicates miner capitulation, and JPMorgan notes declining hedge interest in BTC and gold. Other news includes a Eurojust crypto closure, LG-Arbitrum L2 network, and SEC tokenization preparations.
iFX EXPO International Returns June 16–18 with Kraken, Google, Visa Speakers
iFX EXPO International will be held June 16–18, featuring senior leaders from Kraken, Google, and Visa discussing tech stacks, liquidity, tokenization, payments, and personal branding.
USD/JPY Holds Near 160.20 as Markets Eye BoJ and Fed Meetings
USD/JPY trading near 160.20 as traders await Bank of Japan policy decision and Kevin Warsh's first Fed meeting.
Pakistan PM Announces US-Iran Peace Deal Text Agreed
Pakistan's Prime Minister Shehbaz Sharif announced that a final agreed text of a peace deal between the US and Iran has been reached, with Pakistan working to finalize next steps.
Pakistan PM Sharif: Final Peace Deal Text Agreed, Working on Next Steps
Pakistan Prime Minister Sharif confirmed that a final text of the peace deal has been reached, dismissing misinformation campaigns. He stated that the country is working closely with both sides to finalize next steps, adding that peace has never been this close.
Silver firms on USD weakness, easing US-Iran haven demand
Silver (XAG/USD) trades around $67.50, up 0.21% on the day, supported by a weaker US dollar and reduced haven demand as US-Iran diplomatic progress improves market sentiment.
SpaceX Rises 24% in IPO Debut
Space Exploration Technologies (SPCX) shares surged 24% shortly after the start of its first trading day on Friday.
BoE Expected to Hold Rates at 3.75% in June, Reuters Poll Shows
A Reuters poll of 65 economists indicates the Bank of England will keep the Bank Rate at 3.75% at its June 18 meeting, though opinions are divided on the next move.
SpaceX IPO Sees $26B in Shares Traded in First 15 Minutes
The SpaceX IPO ($SPCX) recorded 160 million shares traded in its opening 15 minutes, equivalent to roughly $26 billion in volume. Average trading velocity reached $1.7 billion per minute.
SpaceX Stock Begins Trading at $160.83, Up 19% from IPO
SpaceX stock (SPCX) started trading at $160.83 per share, a 19% gain from its IPO price, pushing the company's valuation to $2.1 trillion and making it the 7th largest public company globally.
Pound Slips on UK GDP Contraction, Risk Appetite Improves
The British Pound turned lower against the US Dollar after data showed the UK economy contracted in April, while improved risk sentiment from US-Iran talks initially weighed on the Greenback.
SpaceX IPO Trading Tips: Avoid Market Orders, Know Flipping Policies
Traders are advised to use limit orders and avoid market orders during the SpaceX IPO debut due to extreme volatility. The post also details flipping policies at major brokerages like Fidelity, Robinhood, and ETrade.
Vance Says Iran Won't Get Cash for Strait of Hormuz Deal; Dollar Under Mild Pressure
US Vice President JD Vance stated that Iran will not receive cash or released funds solely for signing a potential agreement, rebutting rumors about a deal to reopen the Strait of Hormuz. His comments placed mild downward pressure on the US dollar.
EUR/USD Weekly Forecast: Volatility Ahead on Fed and War Headlines
The EUR/USD pair closed the week in positive territory after touching a low of 1.1499, its weakest since late March. Traders brace for volatility from the Fed decision and geopolitical headlines.
SpaceX Shares Indicated to Open at $151, 12% Above IPO Price
SpaceX (SPCX) shares are indicated to open at $151, 12% above the IPO price of $135, according to trading indications.
US Economy Shows Resilience Despite Iran War Disruptions
More than three months after the start of the Iran war and resulting global energy market disruptions, the US economy continues to show remarkable strength. The post raises the question of whether this resilience can be sustained.
Gold Rebounds from $4,200 But Bears Not Done Yet
Gold staged a strong rebound after touching its lowest since November near $4,200, but the weekly forecast suggests the metal is not out of the woods yet.
Nasdaq Delays Start of SpaceX Share Trading for Orderly Pricing
The Nasdaq announced it needs a few more hours before SpaceX shares (ticker SPCX) can begin trading, citing the need for an orderly IPO and establishing the right price.
British Pound Steady Near 1.3400 Ahead of Key BoE and Data
The British Pound is consolidating recent gains around the 1.3400 level against the US Dollar, with domestic risk elevated ahead of upcoming UK CPI, labour data, and the Bank of England decision.
Binance Captures 57% of Pre-IPO Perpetual Market, SpaceX Leads Assets
According to CoinMarketCap Research, Binance accounted for 57% of the $2.94 billion total trading volume in pre-IPO perpetual contracts over the past 30 days, with SpaceX alone representing 67% of the overall volume.
Iran FM Says Islamabad MoU 'Never Been Closer'
Iran's Foreign Minister Araghchi stated that the Islamabad Memorandum of Understanding is closer than ever, promising full transparency in sharing details with the public.