economy
CNBC Daily Open: Markets score big as Iran war nears final whistle and SpaceX takes the field
Investors cannot take their eyes off another story playing out: the possibility that the Iran war might finally come to an end.
TL;DR
- Markets rallied on the announcement of a potential settlement to the Iran war.
- Oil prices dropped significantly following the news of the potential war settlement.
- Elon Musk's SpaceX is set for an initial public offering, expected to be valued at $1.8 trillion.
- SpaceX is allocating a lower-than-expected percentage of its IPO to retail investors.
- Asian markets experienced significant gains, with the Nikkei 225 up 4% and the Kospi up 7%.
- The Korea Exchange attributed foreign investor sell-offs to portfolio rebalancing, not a loss of confidence.
- The 2026 FIFA World Cup is anticipated to be the largest betting event ever.
- Bernstein identified DraftKings as a primary gambling beneficiary of the World Cup due to its marketing and exclusive Spanish-language rights.