Markets

• SpaceX’s Record IPO Is Said to Draw Over $350 Billion in Demand
  SpaceX’s historic $75 billion IPO drew more than $350 billion in demand from institutions and retail investors, according to people familiar with the matter.
• HSBC Said to Have $400 Million Exposure to Ailing UAE Firm IFFCO
  IFFCO Group, one of the Middle East’s largest consumer goods companies, has emerged as an unwelcome headache for HSBC Holdings Plc at a time when Chief Executive Officer Georges Elhedery is trying to make the British lender leaner, simpler and more disciplined with capital.
• What Stock Traders Can Expect From SpaceX’s Trading Debut
  Investors will soon have a sense of how SpaceX shares will perform after the largest initial public offering ever — but they may need to wait several hours to get in on the trading action.
• Ken Leech Pleads Guilty to Obstructing SEC Probe Into Trades
  Ken Leech, the former co-chief investment officer at Western Asset Management Co., pleaded guilty to lying to regulators during an investigation into his trading as part of a last-minute deal with prosecutors who dropped the most serious fraud charges against him.
• Tesla Holder Merz Sits Out SpaceX IPO in Bet on Musk Merger Bid
  Alexandra Merz, a longtime Tesla Inc. investor, said she deliberately avoided buying shares in SpaceX’s initial public offering because she expects Elon Musk to move quickly to combine the two companies.
• World Cup’s $10 Billion Betting Boom Fuels Market ‘Gamification’
  The World Cup is expected to be the biggest sporting event on the planet. It may also become the industry’s biggest chance yet to turn a global sporting spectacle into an engine for speculative trading.
• Dangote Lifts Nigerian Crude Intake as Overseas Buyers Pull Back
  Nigeria’s massive Dangote refinery is boosting purchases of the country’s crude, helping to stem waning demand for grades from West Africa in light of uncertainty over the resumption of oil shipments from the Middle East.
• SpaceX Options to Begin Trading on Tuesday After IPO
  Options contracts on Space Exploration Technologies Corp. will begin trading Tuesday after shares began trading on Friday.
• Space Stocks Tumble as Investors Race Toward Musk’s IPO
  SpaceX’s long-awaited initial public offering triggered a selloff Friday in the shares of other rocket, satellite and space-related companies.
• Chevron May Expand Middle East Footprint Over Time, CEO Says
  Chevron Corp. is open to expanding its Middle East footprint despite the ongoing Iran conflict that has triggered an unprecedented disruption of global energy markets, said Chief Executive Officer Mike Wirth
• Bitcoin Bottom Hunters Are Eyeing Up AI Frenzy and SpaceX IPO
  Bitcoin’s rebound this week from the depths of despair below $60,000 has reignited a familiar Wall Street ritual: trying to call the bottom.
• Tether’s Brief Flip of Ether in Value Gives Crypto a Reality Check
  For a few hours last weekend, Tether’s USDT stablecoin became more valuable than Ether.
• How a Vibecoded Newsletter Is Making the Hay Market More Transparent
• Traders Are Most Positive on US Dollar Since February 2025
  Traders turned the most optimistic on the US dollar in more than a year as the war in the Middle East supports the currency’s status as a haven.
• French Wheat Yields Look Better Than Last Year, Grain Group Says
  France’s winter soft wheat and barley yields appear slightly better than last season despite adverse weather, according to Benoit Pietrement, president of industry group Intercereales.