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updated 15h agoSpaceX soars past Amazon and Microsoft in market cap after blockbuster IPO. The aerospace company's valuation topped $600 billion following its public listing, briefly making it the fourth-largest U.S. company. Investor enthusiasm reflects confidence in its space ambitions, though some analysts warn the valuation leaves little room for error. The company is already moving to acquire AI startup Cursor for $60 billion, signaling aggressive expansion plans.
Bank of Japan raises rates to 31-year highs amid tightening cycle. The central bank lifted borrowing costs and signaled more increases ahead, marking a significant policy shift. The move reflects persistent inflation pressures and could ripple through global markets as investors reassess interest-rate expectations worldwide.
Oil plunges 5% to three-month lows on Iran peace framework. Brent crude dropped below $80 as traders priced in potential geopolitical de-escalation and reopening of the Strait of Hormuz. The decline eases energy concerns but creates headwinds for mortgage rates, according to Federal Reserve insiders monitoring inflation dynamics.
Corporate restructuring accelerates across sectors. Yum Brands is divesting Pizza Hut for $2.7 billion, Thames Water faces potential nationalization after a government-rejected rescue deal, and retailers continue store closures. Meanwhile, tech giants including Meta, Snap, and Salesforce are doubling down on AI investments as competition intensifies.