SpaceX Goes Public at $2.2T and Iran Is Cutting a Deal — Markets Are About to Have a Very Interesting Monday

Two stories are eating the financial internet alive this weekend. First: SpaceX just completed the largest IPO in history, raising $75 billion, pricing at $135 and closing up 19% at $161/share — giving the company a jaw-dropping $2.2 trillion market cap and making Elon Musk the world's first trillionaire. The offering was four to five times oversubscribed, with retail scooping up roughly 20% of the deal. Jim Chanos is already sharpening his short thesis, calling it valued on 'Elon hopes and dreams' — which, fair, but also: the man just put a car in orbit.

Meanwhile, a senior US official is putting 85% odds on a US-Iran peace deal closing within 24 hours, with Pakistan's PM confirming imminent finalization. QQQ and the S&P futures reportedly popped 2.5% on the Iran deal headlines, crude dipped below key technical levels, and the Strait of Hormuz — which Iran threatened to completely close — may stay open for business after all. Bloomberg sources confirm a JCPOA-style MOU is being drafted.

Gold bulls aren't celebrating the peace deal — YouTube's macro crowd is screaming that the money printing never stops regardless of who's bombing whom, and central banks buying gold at record pace suggests the smart money agrees. Monday open is going to be must-watch television.