Market update for Friday, June 12, 2026. Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: What you need to know about the SpaceX IPO today Arm rallies on a bold AI call Adobe sinks despite beating earnings Fun Fact: SpaceX IPO is minting over 4,400 employee millionaires (and Elon becomes the world&#x27;s first trillionaire

SpaceX Makes Historic IPO Debut, Musk Becomes First-Ever Trillionaire

The Rundown

# Full Transcript

**Podcast:** The Rundown

## Participants

- **Zaid Admani** (None)

## Transcript

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Friday, June 12th. In today's episode, we're breaking down the SpaceX IPO and what you need to know as the stock starts trading today. We'll also recap earnings from Adobe, then stick around to the end of the show to find out how many SpaceX employees are becoming millionaires

as a result of the IPO. We got a great show for you today. Let's go. Stocks ripped higher on Thursday. The S&P 500 jumped 1.8% while the Nasdaq was up 2.5%. It was the best day for both these indices in two months. The catalyst for the surge yesterday was President Trump calling off the military strikes on Iran, saying that a peace deal was basically done.

Now, we've heard this many, many, many times before, but the market seems to think that it's for real this time. In fact, according to reporting from Bloomberg, the US and Iran could sign an interim agreement as soon as this Sunday in Geneva, Switzerland, right before the start of the G7 summit in the French Alps. This deal would extend the ceasefire by about two months. It would reopen the street of Hormuz and it would lift the US blockade of Iranian ports. Oil traders are starting to price in

the possibility of peace and a reopened Hormuz. Brent crude dropped over 3% this morning to under $88 a barrel. Remember, oil prices peaked at $125 a barrel back in late April. So we've come a long way down. Now, we'll have to see if this deal actually gets signed because like I said, we've been here before. I mean, just back in late May, there were reports that the two sides had mostly agreed to a deal and then the missile started flying again. But if we actually get the ink on paper or however these

deals actually get signed and if the street of Hormuz actually opens up, it would be a sigh of relief for the market and for everyone that was worried about a potential rate hike by the Fed. See, inflation has been creeping up for months now and most of it is coming from energy prices. We covered the CPI report and the PPI report on the show earlier this week and both of them came in hot. But if the war ends and oil prices keep falling, the inflation problem could start fixing itself. And then that could put an end to all the rate hike talks and maybe even open the door for a

potential rate cut at some point later in the year. Now, there is a Fed meeting next week. It's the first meeting under new Fed chair Kevin Warsh. So it'll be interesting to see what he has to say. We're going to be staying on top of that along with everything else happening in the market. So make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines. Well, actually, we only have one headline today because

today is all about SpaceX. The SpaceX IPO is happening today. In fact, by the...

SpaceX Makes Historic IPO Debut, Musk Becomes First-Ever Trillionaire

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
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SpaceX Makes Historic IPO Debut, Musk Becomes First-Ever Trillionaire

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.