SpaceX Nears $3 Trillion in Value | Open Interest 6/16/2026

Summary

SpaceX continues its post-IPO surge, briefly surpassing Amazon in market cap and approaching Microsoft, fueled by all-stock acquisition of AI coding startup Cursor and broad AI enthusiasm. Oil prices slump below $80 as the U.S. and Iran move toward a peace deal that would reopen the Strait of Hormuz. The market also digests the start of the Fed's first meeting under new Chair Kevin Warsh amid expectations of a communication overhaul. Yum! Brands agrees to sell Pizza Hut, Robinhood cuts 10% of staff, and analysts highlight opportunities in consumer finance, sports betting, and warn on AI-driven semiconductor bubbles and private credit strains.

• SpaceX rallies for a third day, pushing market cap past Amazon as it acquires Cursor in an all-stock deal.
• Brent crude drops below $80 on U.S.-Iran interim peace deal that opens the Strait of Hormuz to more oil supply.
• The FOMC meeting begins under new Chair Kevin Warsh, who signals fewer speeches, less forward guidance, and potential changes to the dot plot.
• Yum! Brands sells Pizza Hut to private equity for $2.7 billion, with analyst seeing higher growth and margins for the remaining company.
• Robinhood cuts 300 jobs to remain lean and disciplined.
• Abby Yoder of JPMorgan favors consumer finance names as a reopening trade.
• Jim Chanos warns the AI capex boom will create a bubble bigger than the dot-com crash.
• Moody's Marc Pinto says private credit is entering a complex phase with rising nonaccruals and a 2028 refinancing wall.