Next week: SpaceX IPO, Fed interest rate decision, and US-Iran deal explained

TLDR

• SpaceX debuted on Friday at $150 a share, closing at a market value of $2.1 trillion — the largest initial public offering in history.
• New Fed Chairman Kevin Warsh chairs his first Federal Open Market Committee meeting on Wednesday. Rates are expected to hold
• Inflation reached its highest level in three years last month, with consumer and producer prices rising faster than expected
• The United States and Iran may be close to reaching an agreement to reopen the Strait of Hormuz, pushing oil prices lower
• Key earnings this week from Accenture, CarMax, Kroger and Jabil

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SpaceX made history last Friday when it went public on the Nasdaq, opening at $150 per share — an 11% premium to its IPO price of $135. Shares rose nearly 20% during the session, pushing the company’s market cap to about $2.1 trillion.

Space Exploration Technologies Corporation, SPCX

This made SpaceX The sixth largest company in the American market. It also made Elon Musk the first trillionaire of the modern era.

The IPO raised more money than any public offering in history. Stocks rose broadly on the news, with the S&P 500 up 0.5% on Friday and 0.6% over the week.

New Fed Chairman Steps Up

All eyes now turn to Wednesday, when the Federal Open Market Committee concludes its two-day meeting. Markets widely expect interest rates to remain unchanged.

What investors are watching closely is new Fed Chairman Kevin Warsh. Wednesday will be the FOMC’s first meeting since he was sworn in on May 22. His post-decision press conference will be the first real look at how he plans to deal with rising inflation.

Consumer prices rose in May at their fastest pace since 2023. Producer prices rose at their fastest rate since November 2022. Employment has been above estimates for several months in a row.

Warsh has previously argued that the Fed should not be too detailed in its forward guidance, which could make markets more sensitive to each new data point as investors try to guess the Fed’s next move.

President Trump has pushed for lower interest rates, but analysts at BNP Paribas say conditions this year look very different than they did when the Fed last cut rates in the fall.

Macquarie strategists also noted that investing in AI could contribute to inflation in the short term, which would complicate Warsh’s view that AI works to combat inflation over time.

US-Iranian talks and oil prices

There was some positive news on the geopolitical front on Friday. US and Iranian officials appear to be close to reaching an agreement that could reopen the Strait of Hormuz, which has been closed during the ongoing conflict.

BREAKING: A diplomat involved in peace talks between the United States and Iran says Israeli strikes on Beirut, Lebanon, today created problems in finalizing the deal, according to Fox News.

The diplomat said the strikes are an attempt “to sabotage President Trump’s deal and drag the United States back into war.”

– Al Qubaisi Letter (@KobeissiLetter) June 14, 2026

Iranian official media reported that the agreement may include the withdrawal of US forces, the release of $24 billion in frozen Iranian assets, and $300 billion in reconstruction plans. US officials described terms including the destruction of Iran’s stockpile of enriched uranium and the phased release of assets associated with compliance.

Oil prices It fell on the news but remained well above pre-war levels. Rystad Energy estimates that the conflict has already caused cumulative losses of 1 billion barrels of oil, and that number is on track to nearly double by the end of the year.

An agreement, if signed, would still mean a long road back to energy markets.

Earnings to watch

CarMax reported first-quarter results Wednesday morning, as investors watch how the used car market holds up under new CEO Keith Barr. Accenture reports on Thursday, with concerns about federal spending cuts and artificial intelligence competition weighing on sentiment. Krueger and Gabel also report this week.

#Profits For the week beginning June 15, 2026https://t.co/hLn2sKQPuw$KR $PGR $ACN $gbl $domo $heat $CGC $LZB $cmx $VNCE $I will $PLAY $RFIL $QMCO $WLY pic.twitter.com/f1hsGVzjNX

– Earnings Whispers (@eWhispers) June 12, 2026

May retail sales data falls on Wednesday, giving the latest read on how consumers are dealing with higher prices.