$SPCE who? SpaceX just dropped the biggest IPO in history and made Elon Musk an actual trillionaire
Plus: inflation hit a 3-year high, Iran kept everyone on edge, and Intel quietly went absolutely feral

Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| INTC INTEL CORP | buy | $125.38 | — | — | — |
| DAL DELTA AIR LINES, INC. | buy | $83.01 | — | — | — |
| UAL United Airlines Holdings, Inc. | buy | $115.47 | — | — | — |
| ORCL ORACLE CORP | sell | $183.94 | — | — | — |
| SMCI Super Micro Computer, Inc. | sell | $30.82 | — | — | — |
| CBRL CRACKER BARREL OLD COUNTRY STORE, INC | hold | $46.90 | — | — | — |
| CASY CASEYS GENERAL STORES INC | buy | $895.00 | — | — | — |
Let's get the obvious out of the way: SpaceX ($SPCE_X) — trading on NASDAQ under ticker SPCE — completed the largest IPO in history, raising $75 billion at $135/share, opening at $150, and closing up 19% at $161. Market cap: ~$2 trillion. Elon Musk's net worth: one trillion dollars. The British East India Company comparisons are flying. Jim Chanos called it 'hopes and dreams' trading at 110x revenues. Cramer called it historic. Both are probably right.
Meanwhile, the macro backdrop was doing its best to steal the spotlight. CPI hit 4.2% year-over-year — a 3-year high — with gas up 40.5% thanks to the Iran conflict that had markets whipsawing all week. President Trump canceled strikes, markets surged 1,000 points. Then fresh strikes launched, markets fell. $DAL and $UAL ripped on Iran deal hopes. $ORCL slid 9.5% on earnings. $INTC somehow gained 25% in a single week on a double upgrade. Cracker Barrel — yes, that Cracker Barrel — surged 23%. $SMCI dropped 28% after announcing a $7B equity offering. Chaotic week, honestly iconic.
New Fed Chair Kevin Warsh is sitting on a hot stove: inflation screaming, markets partying, and a geopolitical wildfire raging. History suggests rate hikes are coming — the question is just how long he waits before admitting it.