Oppenheimer Affirms SpaceX with "Outperform" Rating, $190 Price Target

June 11. An official announcement from Bitget confirms the platform has launched 90 stock spot trading products, including rTokens for major names like Morgan Stanley (rMS), Nike (rNKE), Pfizer (rPFE), ExxonMobil (rXOM), and Occidental Petroleum (rOXY). The new offerings cover sectors spanning energy, healthcare, financial services, and technology and communications. Per reports, these rTokens—formatted as an "r-" prefix plus the stock’s ticker symbol (e.g., rNVDA for Nvidia)—are issued by Reality, a licensed real-world asset (RWA) protocol under Bitget. They are directly linked to global liquidity pools such as the Nasdaq and NYSE through a partnership with Alpaca, a regulated broker. Key features of the rTokens include: a 1:1 reserve of the underlying stock held by a licensed custodian; stock dividends paid out as tokens at a 1:1 ratio; support for corporate actions like stock splits; and eligibility to serve as collateral for cross-margin trading and U-based contracts. This functio

June 11: The European Central Bank (ECB) raised interest rates for the first time in nearly three years, becoming the first major developed-world central bank to act on inflation spurred by tensions related to the Iran war. The central bank lifted its benchmark main rate from 2% to 2.25%—a move widely expected by markets—while highlighting headwinds facing major economies from the prolonged closure of the Hormuz Strait, which has pushed energy prices sharply higher. Investors broadly anticipate the ECB will hike rates at least once more this year. This policy shift also makes the ECB the first major central bank to tighten monetary policy directly in response to surging energy costs, which have pushed eurozone inflation above 3%. Turning to other key central banks: The Federal Reserve is projected to keep interest rates unchanged next week, with Chair Jerome Powell caught between Trump’s calls for low rates and mounting inflation pressure. The Bank of England is also expected to hold

June 11 — According to foreign media reports, the European Central Bank (ECB) raised interest rates by 25 basis points on Thursday, a move that could signal the Federal Reserve and other central banks will follow suit to combat ongoing inflationary pressures. The ECB hasn’t hiked rates since September 2023, but the Eurozone’s May inflation rate jumped to 3.2% amid the war in Iran, forcing the central bank to act on rising price pressures. Citigroup analyst Arnaud Mares noted the real focus of this week’s meeting was how ECB communications would reveal future policy directions. He anticipates the ECB will raise rates again at its July policy meeting. The ECB’s rate decision may offer insight into the U.S. market’s trajectory, with markets pricing in a 66% probability the Federal Reserve will implement at least one rate hike before the end of this year. (FXStreet)

June 11: U.S. initial jobless claims for the week ended June 6 came in at 229,000, above the 219,000 consensus forecast and up from the prior week’s 225,000. (FXStreet)

On June 11, U.S. May Producer Price Index (PPI) posted a 6.5% year-over-year increase, surpassing the 6.4% consensus economist forecast. The prior month’s original PPI figure was revised downward, from 6.0% to 5.7%. (FX678)

June 11. Wall Street broadly believes the stock market has the capacity to absorb the additional supply from SpaceX’s upcoming IPO, though investors remain wary of potential volatility tied to more large AI-focused IPOs and financing frenzies, per CNBC. Data from Gavekal Research shows that over the 12 months ending September 2025, S&P 500 companies collectively issued roughly $1.7 trillion in stock—equaling about $140 billion per month. The firm notes SpaceX’s expected $75 billion fundraising is only slightly larger than U.S. stock market dividend payouts over a little more than two weeks. Against the full scope of the U.S. stock market, these issuances are “surprisingly easy to digest,” meaning any drag on U.S. stock performance from short-term liquidity withdrawal should be temporary. It’s not just SpaceX: peers including Anthropic, OpenAI, and Alphabet are also pursuing public market financing. Combined, the four firms plan to raise roughly $380 billion—about two months of