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SpaceX’s much-watched IPO is dominating market chatter, with investors debating whether its debut could signal a broader market top or, more likely, simply fuel another speculative surge in US stocks.

Market watchers are focusing on what could drive stocks in the next trading session, with several major stories centered on tech, pharma, and IPO sentiment.
Bernstein argues that quantum computing will be a key part of tech’s future, and it highlights two stocks with the biggest upside potential.
Some high-yield savings accounts have cut rates, although a few still offer around 4% for savers.
Tom Lee says concerns that the SpaceX IPO could mark a market top are overblown, and history suggests big IPOs do not usually end bull markets.
Other analysts are more cautious, warning that investors may be getting too excited about the SpaceX IPO and calling it “Musk Mania.”
Morningstar reportedly values SpaceX at less than half of its IPO target, adding to skepticism about the deal’s pricing.
Pharma stocks are showing technical strength, and one chart-based analysis suggests a breakout may be coming soon.
Chip stocks are rebounding, which has led traders to increase hedging activity as they manage risk.
Veteran trader Jay Woods is warning investors to be careful if they want to trade the SpaceX IPO.
Beyond markets, headlines also point to student loan changes, gold’s sharp drop, tariff uncertainty, gas-price debates, and concerns over a possible stock-market crash.

Hong Kong stocks ended a five-day losing streak as the Hang Seng Index fell 91 points to 24,565, with Tencent’s gains narrowing while the Keting and related shares surged to new highs on active turnover.

Taiwan’s exports in May rose 51.7% year over year, far exceeding expectations.
KGI raised its S&P 500 target to 8,000 points while keeping its 2026 U.S. GDP growth forecast at 2.2%.
Hong Kong stocks fell for a fifth straight session, with the Hang Seng Index closing down 91 points and the Hang Seng Tech Index edging up 13 points.
Goldman Sachs lifted Micron’s price target to US$900 and kept a “Neutral” rating, while also raising revenue and profit forecasts.
KGI expects China’s economy to bottom out and stabilize in the second half, and recommends names such as Xinyi, Tencent, Alibaba, and UBTech.
Several companies objected after being placed on a U.S. “military-related” list, saying the allegations are groundless and politically motivated.
ASML warned the EU not to over-intervene in the semiconductor supply market, highlighting concerns over policy distortion.
South Korea’s finance ministry vowed to crack down on speculative FX trading after the won briefly strengthened more than 1%.
Indonesia unexpectedly raised interest rates by 25 bps, boosting the rupiah, and Barclays expects another 50 bps hike next week.
SpaceX’s IPO reportedly saw oversubscription, with institutional investors placing at least US$10 billion in orders, signaling strong appetite for major tech listings.

Tokyo stocks rebounded sharply, with the Nikkei briefly rising more than 1,000 points as buying dominated on the back of strong U.S. tech shares.

Sumitomo Mitsui Trust Bank aims to reach 15 million accounts at SBI, with President Yoneyama saying it wants to become the clear market leader.
The Tokyo stock market rebounded, and the Nikkei briefly rose more than 1,000 points as buying outweighed selling on strength in U.S. tech shares.
The transport minister said rules for cracking down on special vehicles such as trailers will be tightened by revising referral requirements during fiscal 2026.
Finance Minister Katayama warned against excessive yen weakness and suggested the government is prepared to take decisive action, including possible FX intervention.
U.S. stocks in New York fell again as worries grew over worsening tensions in the Middle East, though the Nasdaq managed to recover.
The yen in New York traded in the lower 160-yen range, with some buying of yen and selling of dollars amid caution over possible intervention.
Another New York market report said stocks slipped slightly, with the Dow down about 80 dollars as geopolitical risks continued to pressure sentiment.
Activist investors are becoming more active, with record-high shareholder proposals at June meetings targeting top management changes and business restructuring.
The government raised concerns that activist groups may be coordinating behind the scenes, potentially jumping ahead of other investors in multiple cases.
Additional business and corporate developments include a Kyoto Gion opening for Kayanoya, changes in JR East ticketing and night trains, Sharp’s AI server sales plans, and concerns about rising costs at West Nippon Expressway.

Bitcoin held above $63,000 as Strategy kept buying more BTC, signaling renewed bullish momentum in the crypto market.

Coinbase and Cardless launched a credit card that is backed by stablecoins.
Michael Saylor was criticized for blaming artificial intelligence for Bitcoin’s crash, while Arca dismissed that explanation as nonsense.
Bitcoin traded above $63,000, and some traders said SpaceX’s IPO could become the next major catalyst.
A Chinese mining executive said Strategy could withstand Bitcoin falling to $30,000 without needing to sell.
Humanity Protocol’s token dropped more than 80% after a private-key hack that reportedly stole $32 million.
Crypto memecoin culture is being portrayed as increasingly dark and chaotic, with stories involving forehead tattoos and alcohol dares.
A major research firm that helped trigger an AI stock selloff called Hyperliquid a compelling project.
Strategy bought another $100 million worth of Bitcoin as prices moved back above $63,000.
Sam Bankman-Fried officially requested a presidential pardon from Donald Trump.
The Ledger CTO warned that high compliance costs in the European Union are hurting Web3 innovation and discouraging startups.

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