WS #9617

The dominant narrative is the SpaceX IPO, which has officially priced at $135 per share, valuing the company at approximately $1.77 trillion. Multiple sources (NBC, AP, Bloomberg, CNBC, Seeking Alpha, Benzinga) confirm the IPO is set to begin trading on Nasdaq today under ticker SPCX. This is the largest IPO in history, raising $75 billion. The event is driving significant market attention, with leveraged SpaceX ETFs delayed until Monday, and related stocks like Destiny Tech100 (DXYZ) and Rocket Lab (RKLB) moving on the news. Elon Musk is reportedly on the verge of becoming the world's first trillionaire. The narrative arc is ESCALATING as the IPO goes live. Separately, the US-Iran peace deal narrative continues, with Trump claiming a deal is near and calling off strikes, but Iran denies an agreement is close. This has caused oil prices to fall (Brent below $90, WTI near $87) and global equities to rally. However, the Guardian reports that legal questions are being raised about US targets in Iran potentially constituting war crimes. The narrative arc is STABLE but with underlying tensions. In corporate news, Adobe (ADBE) is being hit by multiple downgrades (Evercore, Baird, Stifel) after Q2 earnings, with price targets slashed to $225-$230, citing AI monetization uncertainty and CFO departure. SharonAI (SHAZ) surged 25% on a six-year AI compute deal with Nvidia (NVDA). SK Hynix is reportedly choosing Nasdaq for its US listing. AMD rose on a Citi upgrade citing GPU potential. Oracle (ORCL) is down 8.5% on heavy volume. Vanguard has ended BlackRock's 20-year run atop the US ETF market. Geopolitically, Ukraine's drone campaign is hitting Russian oil infrastructure hard, pushing crude output to lowest in a year. Russia may launch a ballistic missile from Kapustin Yar within 24 hours. China has arrested a US citizen on espionage charges. The FISA surveillance law is set to expire for the first time after lawmakers rejected Trump's intelligence pick.