Elon Musk becomes world's first trillionaire as SpaceX soars in Nasdaq debut
Elon Musk has become the world's first trillionaire after shares in his SpaceX rocket company surged on their stock market debut in New York. The company listed on the Nasdaq exchange on Friday in what was described as the biggest-ever stock market debut, briefly lifting Musk's paper wealth above $1tn. SpaceX closed the day with a valuation of $2.2tn, after trading opened above the offer price and climbed further during the session.The company said shares would be offered at $135 each, but trading opened at $150 and briefly reached $176.50 before ending the day at $160.95. The initial public offering... [Continue Reading]
360LiveNews | 12 Jun 2026 23:04 LONDON
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Wall Street closes higher as chips surge, small caps rally and oil slides sharply
Executive summary: U.S. stocks finished higher, led by a powerful rebound in AI and chip shares, while small caps, banks and defense stocks also advanced. The session was marked by a sharp drop in WTI crude, a pullback in gold, and a strong move in palladium, suggesting a broad rotation across risk assets and commodities. The biggest single equity move in the data was SOXX, which jumped more than 10%, while Microsoft, Apple, Meta and Amazon all fell. The S&P 500, Nasdaq Composite and Dow Jones each ended in the green, with the Russell 2000 outperforming the large-cap benchmarks. [Continue Reading]
Europe closes mixed as oil slumps, autos and equities rally, gold retreats
Executive summary: European markets ended the session with a split picture, as the FTSE 100, Euro Stoxx 50 and CAC 40 advanced while the DAX slipped. The sharpest cross-asset move was in Brent crude, which fell more than 7%, a drop that helped support travel and broader risk sentiment. Autos also outperformed, while gold and platinum weakened and the euro and pound firmed against the dollar. [Continue Reading]
SpaceX blocks China and Hong Kong investors from landmark IPO
SpaceX has barred investors from mainland China and Hong Kong from taking part in its public offering, a rare country-level restriction in a major share sale. The move affects a wide range of potential buyers, including mutual funds, private equity firms, sovereign funds, family offices and high-net-worth individuals from the two jurisdictions. The company is going public on Friday, and the exclusion has drawn attention because of the scale of the offering and the sensitivity of the sectors involved.The restriction was reported to have taken effect quickly after first being disclosed last week. People in Hong Kong or mainland China... [Continue Reading]
360LiveNews | 12 Jun 2026 13:37 LONDON
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UK signals it may limit compensation to British Steel owner amid treaty dispute
The UK government has signalled it could limit or refuse compensation sought by Jingye Group after taking control of British Steel. The dispute centres on the nationalisation of the steelworks and the costs that may follow. Jingye has now begun consultation under a bilateral investment treaty with the UK government.The company said it was seeking compensation after the state intervention, while the Department for Business and Trade said any payout would be decided independently and only paid if it is found to be due. A department spokesperson said the government would comply with its international obligations. Jingye has also said... [Continue Reading]
360LiveNews | 12 Jun 2026 12:35 LONDON
Europe Opens Mixed as Brent Slides, Palladium Surges and German Stocks Lead the Risk-Off Tone
Executive summary: European markets opened with a cautious tone, as the DAX fell sharply, the FTSE 100 slipped, and the Euro Stoxx 50 was little changed. The biggest moves came in commodities, where Brent crude dropped nearly 6% and palladium jumped more than 8%, while gold, silver and natural gas also weakened. FX was steadier, with sterling and the euro firmer against the dollar. The pattern points to a market still reacting to shifting geopolitical and policy expectations, with energy, metals and autos among the clearest pressure points. [Continue Reading]
Nikkei Surges Past 66,000 as Asia Ends Mixed, Oil Slides and Palladium Jumps
Executive summary: Tokyo led Asia-Pacific trading with a broad risk-on move, as the Nikkei 225 and Nikkei 225 ETF both rose more than 3%. The session also featured a sharp drop in WTI crude, a pullback in gold and silver, and a standout rally in palladium. Currency moves were muted, with USD/JPY and USD/CNY little changed. [Continue Reading]
Tokyo Opens Higher as Nikkei Extends Rally, Oil and Gold Slide Across Asia-Pacific
Executive summary: Tokyo opened with a clear risk-on tone, led by a +1.8% rise in the Nikkei 225, while Hong Kong and Seoul fell sharply. The move came alongside a broad drop in WTI crude, gold and several industrial metals, a weaker yen, and a firmer yuan. The split screen suggests investors are rotating within the region rather than embracing a uniform Asia-wide rally. [Continue Reading]
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Wall Street closes sharply lower as megacap tech leads a broad risk-off move, while defence and palladium stand out
Executive summary: US stocks finished lower in a broad selloff, led by steep declines in megacap technology and AI-linked shares. Meta, Microsoft and Nvidia were among the biggest drags, while defence stocks and palladium bucked the weakness. The move came alongside softer crude, gold and energy prices, a mixed FX backdrop, and a modest rise in Bitcoin. [Continue Reading]
Europe closes lower as gold and silver slide, autos and German equities lead the retreat
Executive summary: European markets ended the session broadly lower, with the DAX posting the sharpest regional equity decline while the FTSE 100, CAC 40 and Euro Stoxx 50 also finished in the red. The biggest moves came in commodities, where gold and silver fell sharply, while palladium bucked the trend and rose. FX was softer for the euro and pound against the dollar, and Brent crude eased modestly. The pattern points to a risk-off tone, but the data also show a notable unwind in precious metals rather than a uniform selloff across all assets. [Continue Reading]
Wall Street Opens Deep in the Red as Tech, Chips and Gold Lead a Broad Risk-Off Move
Executive summary: US markets opened sharply lower, with the Nasdaq Composite down -5.9%, the S&P 500 off -4.0% and the Dow Jones down -2.8%. The heaviest pressure is in technology and AI-linked shares, while gold, silver and crude oil are also weaker. The move points to a broad de-risking at the open, with only a handful of sectors, including banks and some defensive pockets, holding near flat or slightly positive. [Continue Reading]
Tokyo and Asia-Pacific Close Lower as Risk Aversion Hits Equities, Gold and Silver Slide
Executive summary: Asia-Pacific markets ended broadly weaker in Tokyo trading, with the Nikkei 225, Kospi, Hang Seng and ASX 200 all finishing lower. Safe-haven metals also fell sharply, while palladium bucked the trend. The move came alongside a firmer U.S. dollar against the yen and a modestly stronger yuan, pointing to a session shaped by cross-asset repricing and a stronger risk-off tone. [Continue Reading]
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Australia flags risks over reliance on Starlink as SpaceX prepares public offering
Australian government officials are privately warning about the risks of growing reliance on Starlink, the satellite internet service owned by SpaceX. The concern comes as tens of thousands of Australians are preparing to buy shares in SpaceX ahead of its public offering on 12 June. The issue has drawn attention because Starlink is already used by about 200,000 Australians and several government agencies.Documents obtained under freedom of information laws say officials have been assessing the implications of essential communications depending on a privately owned foreign satellite network. An internal notice from a spy agency described satellite internet providers as a... [Continue Reading]
360LiveNews | 10 Jun 2026 21:00 LONDON
US adds Alibaba, BYD and Baidu to Chinese military companies list
The United States has added Alibaba, BYD and Baidu to its list of companies it says have ties to the Chinese military. The Pentagon update was published on Monday and expands a blacklist that is used to flag firms considered to support China's military-civil fusion strategy. The move affects some of China's best-known commercial brands and comes at a sensitive moment in US-China relations.China's embassy in Washington condemned the designation as discriminatory and said the US was overstretching the concept of national security. It said Chinese companies doing business overseas had been strictly observing the laws and regulations of host... [Continue Reading]
360LiveNews | 09 Jun 2026 04:00 LONDON
OpenAI confidentially files for US initial public offering
OpenAI has confidentially filed for a United States initial public offering, according to the supplied report, but has not disclosed the size or terms of the offering. The company also said a timeline has not yet been determined. The filing places the ChatGPT-maker among a growing group of artificial intelligence firms moving towards public markets as investor interest in the sector remains strong.The company said in a statement that it may remain private for some time because there are things it wants to do that are likely easier as a private company. The report says Reuters previously reported that OpenAI... [Continue Reading]
360LiveNews | 09 Jun 2026 00:03 LONDON
