The market put a bow on a sci‑fi moment when SpaceX debuted above $2 trillion, making Elon Musk the world's first trillionaire and turbocharging bets on rockets-plus-AI — read the debut. [P]At the same time, regulatory friction for AI firms is heating up: a 42‑state subpoena could complicate OpenAI's IPO plans, and giants are raising cash for the AI arms race — Alphabet is offering $84.75B to bulk up. The ripple effects are everywhere: Nvidia and chip makers stay center stage, Rivian is pushing mass‑market EVs under $47K, and oddball winners and losers (from Birkenstock's 56% surge to Tesla's still‑bumpy robotaxi rollout) are rewriting investor playbooks.

Goldman Sachs trimmed its 2027 oil forecast after talks of a U.S.–Iran peace text raised hopes the Strait of Hormuz could reopen, a change that would calm commodity risk and reprice energy bets. [P]Private‑credit stress reappeared as BlackRock gated redemptions, underscoring liquidity risks in alternative finance (gating report). Markets are also experimenting with new plumbing: tokenized SpaceX equity is leading Solana trading volume after the IPO, while Amazon completed a record C$14 billion bond to fund its AI data‑center push (token sales) and (bond deal).