Quick summary
- May’s PCE inflation reading arrives on Thursday and could exceed April’s 3.8% annual increase
- Micron Technology reports quarterly results on Wednesday, valuation hits $1 trillion and stock price rises 800% year-to-date
- Weekly Gains: The S&P 500 rose 1.08%, the Nasdaq jumped 2.48%, and the Dow Jones rose 0.14%.
- SpaceX has completed the largest initial public offering ever recorded, raising $85.7 billion at a valuation of more than $2 trillion.
- Bitcoin advanced 0.46% to $64,139, underperforming the tech-driven stock rally.
Stock markets rose over the past week, driven by significant developments in the technology sector, a historic IPO, and renewed optimism about international trade relations. Below are details of the latest actions and critical events approaching in the coming days.
Major indices close with strong gains
All three major US benchmarks finished in positive territory. The S&P 500 index advanced 1.08% to settle at 7,500.58. The Nasdaq index posted a gain of 2.48%, to 30,406.19, supported by strong appetite for technology and growth-oriented stocks. The Dow Jones Industrial Average rose 0.14%, closing at 51,564.70.
The initial peace agreement between the United States and Iran has boosted investor confidence. The possibility of resuming trade through the Strait of Hormuz contributed to the decline in crude oil prices and encouraged risk taking in long positions.
The US 10-year Treasury yield ended the week at 4.455%. This level remains high for growth-focused companies, which typically face pressure when financing costs rise.
The Fed, led by recently appointed Chairman Kevin Warsh, has maintained its current interest rate stance. However, policymakers noted that additional tightening is still possible if inflationary pressures persist. The central bank has kept interest rates unchanged since December.
Bitcoin It rose 0.46% to close at $64,139.86. Gold fell 1.72% to $4,172.90. Digital assets have lagged behind the broader market’s advance, which has been mostly supported by technology and mega-growth stocks.
SpaceX is making an unprecedented public market debut
The main event of the week was SpaceX’s entry into the public market. Elon Musk’s aerospace and satellite company has raised $85.7 billion in an IPO, setting a new record. The bid values SpaceX at more than $2 trillion.
This historic list has redirected investors’ focus toward larger companies focused on technology and innovation.
SpaceX It also allegedly reached an agreement to buy AI company Cursor for $60 billion, a strategic move towards enhancing AI operations.
Nvidia has revealed its intention to issue at least $20 billion in investment-grade debt for public company applications. This represents one of the most significant financing initiatives the chipmaker has undertaken since the AI expansion began.
Fox Corporation has unveiled a $22 billion deal to buy Roku, the connected TV platform. This acquisition expands Fox’s digital footprint as legacy media organizations seek to create a stronger broadcast and advertising infrastructure.
Yum! Brands sold Pizza Hut to LongRange Capital and Yum China Holdings for $2.7 billion. Management stated that the deal allows it to focus on its other main brands.
Crucial events are on the horizon
Micron Technology reveals third-quarter financial performance on Wednesday. The memory chip maker’s valuation has reached $1 trillion while shares are up more than 800% year-to-date. The company posted gross margins of more than 68% in its most recent filing, raising speculation about whether the memory semiconductor cycle is nearing the top.
The PCE price index for May will be released on Thursday. The April figure recorded 3.8% on an annual basis, the highest level in three years. The May reading may rise further based on recent additional inflation indicators. The Federal Reserve monitors personal consumption expenditures as a key measure of inflation.
Additional corporate reports this week include Carnival Corp., FedEx, BlackBerry and Darden Restaurants. BlackBerry shares more than doubled through 2026 driven by expanding its collaboration with Nvidia and increasing demand for its QNX operating system deployed in advanced driver-assistance technologies.
