WS #9666

The dominant signal in this window is the SpaceX IPO debut, with shares surging ~19% and making Elon Musk the world's first trillionaire. This is corroborated by FT, Bloomberg, and multiple social media sources. The IPO raised $75B and values SpaceX at over $150B, with Polymarket bets on market cap exceeding $1T. Separately, the US Energy Department announced a proposal to loan up to 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR), with offers accepted until June 15. This is a counter-signal to the Iran-Strait of Hormuz crisis, as it directly offsets potential supply disruptions. The Iran situation remains fluid: Iranian media reports IRGC Navy fired on vessels attempting to exit the Strait without permission, while Iran's foreign minister claims an interim agreement is imminent. However, the SPR loan announcement is the more actionable market development. Other notable items: Ameris Bancorp faces a $79.4M jury verdict (including punitive damages), Meta's Zuckerberg admits AI transformation mistakes in an internal memo, and Lockheed Martin wins $2.8B in defense contracts.