Market Commentary

The past week was highlighted by a landmark capital markets event, as SpaceX completed a record-setting initial public offering (IPO), alongside economic data that pointed to steady growth with persistent inflation pressures.

SpaceX is expected to become one of the most valuable companies in the world, with valuations reportedly approaching $1.5 to $2 trillion. At that size, it would rank among the largest companies in the U.S. equity market. Yet even at that scale, it may not immediately appear in widely used market indexes such as the S&P 500.

The latest round of data releases provided a more nuanced picture of the economy, highlighting a continued tension between moderating growth, persistent inflation pressures, and pockets of strength across key sectors.