WS #9635

The dominant signal in this window is the SpaceX IPO (ticker: SPCX), which has officially opened for trading at $150 per share, up 11.1% from the $135 IPO price, with an indicated opening range of $150-$161.9 and a market cap of approximately $1.96 trillion. Multiple sources (Reuters, Bloomberg, CNBC, Alpaca, social media) corroborate the strong demand, with Polymarket contracts heavily traded on market cap outcomes. This is a high-significance event that could boost sentiment for space/tech IPOs and related tickers like TSLA (Elon Musk connection). Rival space stocks are tumbling as investors rotate into SpaceX. Separately, a federal judge indefinitely blocked Trump's $1.8B 'anti-weaponization fund' (Guardian, Politico, multiple sources), but this is a carry-forward from previous windows with no new material data. On the geopolitical front, US-Iran deal signals remain mixed: VP Vance denied a nuclear deal, but Trump reposted Iran's foreign minister saying 'MOU has never been closer,' and Polymarket shows active trading on peace deal outcomes. The 10-year yield hit 4.67% and 30-year breached 5.2% (19-year high), pressuring high-duration stocks like NVDA. Israel activated air raid sirens in northern regions following reports of hostile aircraft incursions, adding to geopolitical tensions. Ebola outbreak in DRC is spreading to new areas (Al Jazeera), but no direct US market impact. Overall, the narrative is stable with SpaceX IPO as the primary catalyst, and the US-Iran situation remains unresolved but with mixed signals.