Track the evolution of major financial and economic events
Super Micro plans to raise $7 billion in capital to fulfill a $39 billion backlog of AI-related orders. Meanwhile, shares in a French technology company plummeted by over 40% following a report from Grizzly Research alleging a "fraudulent structure" in its U.S. operations. Trading of the French company's shares was subsequently suspended after the stock collapse triggered by these short-seller accusations.
Taiwan experienced a significant trade surge in May, with exports and imports beating expectations by growing over 50% year-on-year. This positive momentum led the Taiwan Weighted index to close 2.36% higher on June 15. The upward trend continued through the June 17 session, where the index closed up by an additional 2.78%.
The US House of Representatives is facing a significant divide among lawmakers regarding the urgency and necessity of advancing new digital asset tax legislation. Recent hearings highlighted conflicting perspectives on tax policy, while Representative Max Miller advocated for clear, technology-neutral rules to maintain US leadership in the sector. Additionally, a new bill was introduced to improve federal coordination for crypto hacks and victim support, reflecting a complex legislative landscape for digital assets.
Apple is shifting to Nvidia GPUs via Google Cloud to power its advanced AI workloads, moving away from its private infrastructure. CEO Tim Cook announced that the company will be forced to raise product prices due to a memory chip crunch and soaring production costs. Cook described these price hikes as 'unavoidable' given the current market conditions and the rising costs of components.
SpaceX is set to debut on the Nasdaq exchange under the ticker 'SPCX' at $135 per share, aiming to raise $75 billion with a record $1.8 trillion valuation. The offering includes its rocket services, Starlink, and the xAI artificial intelligence wing, with Defiance ETFs launching a 2X leveraged fund for the stock. Despite economist warnings regarding potential AI sector regulations, the IPO has demonstrated history-making performance since its launch.
Activist investor Jana Partners is pushing Fiserv to sell additional assets and refresh its board of directors. Following these demands, Fiserv's CEO has resigned after a tenure that saw the company's stock price decline by 71%. These developments highlight a significant push for structural changes within the company's leadership and asset management.
DexCom's over-the-counter continuous glucose monitor, Stelo, has received FDA clearance for pediatric use in children aged 2 years and older. This strategic expansion allows children who do not use insulin to access real-time glucose monitoring through the Stelo biosensor. The approval, finalized in mid-June, broadens the market reach for DexCom’s non-prescription glucose monitoring technology.
Apollo Global Management has selected Austin, Texas, for its second headquarters, choosing the city over two potential locations in Florida. Following this move, the firm sold North America's largest private country-club operator amid a surge in luxury golf club M&A activity. Additionally, Eolo is currently in discussions with Apollo to refinance approximately 500 million euros in debt.
Goldman Sachs raised its price target for Micron while maintaining a Neutral rating, amid valuation concerns ahead of the company's June 24 earnings report. Analysts warned that high expectations could make it difficult for the company to outperform, contributing to a 1.43% dip in share price. Investors are closely watching the upcoming results as a key indicator of the sustainability of the AI-driven market rally and chip demand acceleration.
Goldman Sachs Finance Corp launched new indexed notes maturing in June 2031, guaranteed by The Goldman Sachs Group, Inc. These notes offer 150% participation in positive basket returns with an automatic-call feature and a 60% downside buffer, linked to a basket of indexes and ETFs. Additionally, Goldman Sachs has advised on over $1 trillion in M&A deals year-to-date, marking the fastest achievement of this milestone by any bank according to Dealogic data.
CNBC's Robert Frank reported that the SpaceX IPO is likely to make Elon Musk the world's first trillionaire. Musk subsequently stated that the company could generate $1 trillion in revenue by 2030. These comments follow the company's recent IPO, which valued the firm at over $2 trillion.
Gold prices have declined by nearly 3.00% over five trading sessions, marking their third consecutive week of losses. The precious metal is currently recording its fourth monthly decline in a row amid persistent selling pressure and bearish momentum. Gold is now attempting to stabilize above a critical support zone near its yearly lows following a sharp multi-week selloff.
Sportradar Group is facing a securities class action lawsuit following reports from Muddy Waters and Callisto Research that accused the company of misleading investors about its business model legality and involvement with black-market gambling operators. These allegations triggered a 22% collapse in share price in April 2026, wiping out $800 million in market capitalization. The lawsuit targets investors who acquired shares between November 2024 and April 2026, with a deadline of July 17, 2026, to seek lead plaintiff status.
Kraken has expanded its institutional infrastructure by enabling deposits and withdrawals for USDCx on the Canton network. The exchange also launched 'BTC Vault' for Bitcoin rewards and introduced cryptocurrency perpetual futures trading in the U.S. via Kraken Pro. These developments follow the company's May acquisition of Bitnomial, a fully CFTC-licensed exchange and clearinghouse.
Parnassus Investments rebalanced its portfolio by reducing its Salesforce stake by 30.1% while significantly increasing holdings in Edwards Lifesciences and Old Dominion Freight Line. Similarly, Alight Capital Management cut its Salesforce position by 63.3% in favor of boosting its stake in Lam Research. Conversely, Bar Harbor Wealth Management increased its investment in Salesforce by 54.9% during the first quarter.
SpaceX's market valuation is nearing $2 trillion, up from an initial $1.8 trillion, fueled by intense demand and speculative enthusiasm. Financial projections for 2025 estimate revenue at $18.7 billion with an adjusted EBITDA of $15 billion. Analysts highlight a gap between these fundamentals and the massive valuation, pointing to future growth drivers in 'intangible optionalities' such as the lunar economy and orbital AI computing.
SpaceX has disclosed holdings of 18,712 BTC worth $1.29 billion, ranking as the 8th largest public corporate holder globally. The company is set to begin trading on the Nasdaq today under the ticker SPCX with an IPO price of $135 per share. With a valuation of approximately $1.77 trillion, it marks the largest IPO in U.S. history. Additionally, Defiance ETFs launched SPCL, the first ETF providing 2X daily leveraged exposure to SpaceX starting from its debut.
SpaceX President Gwynne Shotwell hinted at a potential merger with Tesla to streamline Elon Musk's operations as SpaceX prepares for its Nasdaq listing. Industry analysts view the creation of a $4 trillion technology conglomerate as a likely outcome of such a deal. The merger would require approval from two-thirds of Tesla shareholders, though Texas corporate law may limit the ability of minority shareholders to challenge the move in court.
Elon Musk participated in the opening bell ceremonies at both the NYSE and Nasdaq to mark SpaceX's historic $75 billion initial public offering. During the dual-location event in New York and Texas, Musk praised company president Gwynne Shotwell as an incredible partner since the early days. SpaceX shares officially began trading on June 12 following the record-breaking IPO.
Barclays raised its price target for Fortinet to $155, while Wells Fargo increased its target to $125 despite maintaining a 'Sell' rating. Analysts subsequently reissued a 'Strong Buy' rating as product revenues surged 41% YoY, driven by significant demand from AI data centers. The company's 2026 guidance projects billings between $8.8–$9.1 billion with gross margins reaching up to 81%.
The Dow Jones Industrial Average rose 250 points at the open on June 12 as investors welcomed signs of a potential peace agreement between the US and Iran. Markets are also focusing on the anticipated SpaceX IPO, which is expected to be the largest public listing in Wall Street history. By June 15, the Dow opened at an intraday record high as investors continued to react positively to the potential deal with Iran.
Sumitomo Mitsui Financial Group increased its stake in American Express by 4.8%, while Focus Partners Wealth boosted its holding by 70.8% to a value of $132.2 million. This strong institutional interest follows the company's robust Q1 earnings report of $4.28 EPS and an 11.4% year-over-year revenue growth. Additionally, American Express issued €750 million in bonds maturing in 2034.
Qualcomm and Marvell Technology shares experienced a significant slump in mid-June, dropping 8% and 10% respectively as tech giants pivoted toward custom silicon. In response to shifting market dynamics, Qualcomm entered strategic negotiations to acquire AI chip startups. These moves include talks to acquire Tenstorrent at a valuation between $8 billion and $10 billion, as well as late-stage discussions to purchase Modular Inc. for approximately $4 billion.
The FTSE 100 surged past 10,400 points as Brent crude fell below $90 per barrel amid geopolitical optimism, despite data showing a 0.1% UK economic contraction in April. Financial and industrial stocks led gains as easing oil prices boosted market risk appetite, though the index later saw a slight dip to 10,476. Additionally, UK inflation held steady at 2.8%, lowering expectations for imminent Bank of England interest rate hikes.
