economy
What drove the stock market last week
The successful debut of Elon Musk's rocket company wiped away a week of anxiety.
TL;DR
- SpaceX's initial public offering (IPO) was the largest in history, closing up 19% and valuing the company at over $2.1 trillion.
- Corning announced a multi-billion dollar deal with Amazon to supply optical fiber for data centers, boosting AI infrastructure development.
- Oracle plans to raise $20 billion to fund AI infrastructure, with the company emphasizing proven demand for its services.
- The consumer price index showed a high inflation reading, but market discussions focused on its connection to oil prices and potential resolution with the Iran war.
- The market anticipated the Federal Reserve would hold interest rates steady at their upcoming meeting.