SpaceX’s IPO-driven surge and Nvidia’s $25 billion bond sale drive tech sector gains amid broader market stability.
Global equities advanced as technology stocks led gains following SpaceX’s market valuation surpassing $2 trillion after a 20% share rally. Premarket trading saw SpaceX shares rise another 10.7%, while Nasdaq futures edged up 0.1% and S&P 500 futures remained flat.
The Bank of Japan’s rate hike to 1%—its highest since 1995—left the yen unchanged at 160.31 against the dollar. Japan’s Nikkei 225 crossed 70,000 for the first time, reflecting investor confidence. In Europe, the STOXX 600 climbed 0.6%, nearing record highs, with Schneider Electric and ASML posting gains.
Nvidia’s $25 billion bond issuance for general corporate purposes weighed slightly on its shares in premarket trading, though the move aims to establish a liquid benchmark for future debt sales.