SpaceX's record-breaking IPO on Friday closed up 19% at nearly $161 per share, valuing the company over $2.1 trillion and making CEO Elon Musk the world's first trillionaire. The successful debut eased market fears, boosted stocks, and raised $75 billion.
Asian markets showed mixed performance on Friday as investors remained cautious amid Iran conflict uncertainty. MSCI's Asia-Pacific index rose 0.3% with a weekly gain of 0.8%, while Japan's Nikkei gained 0.45%. South Korea, China and Hong Kong declined. Oil prices climbed over 1% to $106.21 for Brent, adding to market anxiety. The yen hovered near 160-per-dollar, raising intervention concerns.
Oil prices retreated in Asian trade on Wednesday as investors weighed uncertainty around US-Iran peace negotiations following Washington's unilateral extension of the ceasefire. Brent crude fell 21 cents to $98.27/barrel while WTI dropped 28 cents to $89.39. The Strait of Hormuz saw minimal activity with only three ships passing in 24 hours, keeping supply outlook fragile. Iran has not officially responded to the ceasefire extension, while the US maintains its naval blockade of Iranian ports.
