Instant Reaction: SpaceX Jumps in First Trades Following Record $75 Billion IPO

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s business empire into one of the most-valuable public companies in the world. The stock climbed as high as $176.52, or 31% above its offering price, in afternoon trading in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion. The successful first day of trading allows for a sigh of relief not only for backers of Musk’s company, but for an entire stock market that has been driven higher this year on optimism about the growth potential for artificial intelligence. SpaceX’s embrace of AI earlier this year with the acquisition of Musk’s xAI made the listing somewhat of a referendum on the IPO prospects of competitors Anthropic PBC and OpenAI, both of which plan go public themselves.    Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg News ECM Reporter Anthony Hughes. Bloomberg News Space Reporter Sana Pashankar. Bloomberg Television Correspondent Yahaira Anand. Bloomberg Tech Co-Host Ed Ludlow. Former International Space Station Commander Leroy Chiao. See omnystudio.com/listener for privacy information.

Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.  The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.  For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with: Yahaira Anand, Bloomberg Television Reporter Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage Ed Ludlow, Bloomberg Tech co-host See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump pulled back threatened military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure. Trump on Thursday cited what he said were “discussions” that “have been brought to the highest level of Iranian leadership” for a negotiated end to the war. He said that a “time and place of the signing” would “be announced shortly,” without providing further details. However, Iran’s semi-official news agency Fars said the country had not yet approved the text of any agreement with the US, citing an informed source. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Former Republican Congressman Patrick McHenry Bloomberg Washington Correspondent Tyler Kendall. Atlantic Council Director of the Scowcroft Middle East Security Initiative Jonathan Panikoff. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump pledged fresh strikes on Iran after accusing the country of dragging out talks on an interim peace deal, putting further strain on a fragile two-month truce. The US renewed its attacks overnight on the Islamic Republic and Trump’s latest comments opened the door to Washington’s most sustained military offensive since the two sides agreed to a ceasefire in April. “We’re going to be attacking them, attacking them very hard,” Trump told reporters at the White House Wednesday. “We hit them hard yesterday, and we’re going to hit them hard again today.” Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Economics Defense Lead Becca Wasser. Former US Ambassador to the United Nations, Chair at Hudson Institute Nikki Haley. Stonecourt Capital Partner Rick Davis and Democratic Strategist Matt Robison. Republican Congresswoman Nicole Malliotakis of New York. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said the US must respond after he blamed Iran for shooting down an American military helicopter off Oman, posing a new threat to the peace deal he’s said for weeks is close.“I have just been informed by our Great Military that last night the Iranians shot down one of our highly sophisticated Apache Helicopters while patrolling over the Strait of Hormuz,” Trump posted Tuesday on social media. “There were two pilots involved, both are safe and uninjured. Nevertheless, the United States must, of necessity, respond to this attack.”There was no immediate indication of what action the US is planning. Iran’s foreign minister posted on social media later that “foreign forces in proximity to our territory are at constant risk,” adding that the “best solution is for them to leave.”   Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Former Acting White House Chief of Staff Mick Mulvaney. Bloomberg Economics Defense Lead Becca Wasser. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Boston Bureau Chief Brook Sutherland. Ipsos US Public Affairs Chair and Texas A&M University's Bush School of Government and Public Service Visiting Political Science Professor Cliff Young. See omnystudio.com/listener for privacy information.

A review of market participant comments towards the Office of the Comptroller of the Currency's proposal on stablecoins led Bloomberg Intelligence's June 8 Washington Policy Pulse. Companies like Coinbase pushed the OCC to back off the idea of applying "bank-like" rules to non-banks while trade associations representing banks like Bank of America and Citigroup pushed for further restrictions on reward programs. We also discussed testimony from the House Financial Services Committee and how it impacts regional banks like PNC Financial and US Bancorp. Finally, we discussed the most recent reconciliation efforts as well as new tariffs and Republican goals ahead of the midterm elections. The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research, information regarding forthcoming political catalysts and other on-goings within Washington DC.   The call is open to all and is held every Monday at 10:00 a.m. EST. You can register for the call here: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Iran and Israel agreed to ease strikes against each other after a flare-up in violence threatened to derail peace negotiations and led President Donald Trump to appeal for de-escalation.Israeli Prime Minister Benjamin Netanyahu said in a televised statement Monday that Israel would hold its fire in Iran for now but would respond should Tehran attack them again. Earlier, local TV station N12 reported that strikes in south Lebanon, where Israel is fighting Iran-backed Hezbollah militants would continue at full force. Iran had earlier announced an end to its military operations against Israel. But its central military command warned that if Israel continued to attack, including in southern Lebanon, “much harsher and more crushing actions than before will be on the way,” the semi-official Fars news agency reported, citing a statement. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. American Enterprise Institute Nonresident Senior Fellow Heather Conley. Republican Congressman James Comer, Chairman of the House Oversight Committee. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Former Republican Congressman Denver Riggleman. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring.Nonfarm payrolls increased 172,000 last month and hiring in March and April was stronger than previously reported, according to Bureau of Labor Statistics data out Friday. Taken together, the figures marked the strongest three-month advance in more than two years. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Economics US Economist Stuart Paul. Bloomberg White House Correspondent Kate Sullivan. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and former Chief of Staff to Vice President Mike Pence Marc Short. Bloomberg Television Markets Correspondent Norah Mulinda. Arbroath Group Managing Director Christopher Smart. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The Senate voted down a bid by retiring Republican Sen. Thom Tillis (R-N.C.) to permanently block the Department of Justice from establishing a fund to pay people who claim to have been victims of government “weaponization.”The weaponization fund, established as part of a settlement between President Donald Trump and the IRS, has received bipartisan pushback but failed to garner the 60 votes needed to pass. Only 15 senators voted in support of the amendment as part of a marathon vote series on a GOP bill (S.2) to fund Immigration and Customs Enforcement and Customs and Border Protection for the rest of Trump’s term.DOJ announced it was dropping the fund after a court blocked work on it, but lawmakers have sought to ensure it’s permanently shut down. The issue held up consideration of the immigration enforcement funding bill for weeks. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg News Congressional Reporter Erik Wasson. Bloomberg News White House and National Security Editor Michelle Jamrisko. Bloomberg Markets Live Blog Managing Editor Kristine Aquino. Stonecourt Capital Partner Rick Davis and Hicks Evaluation Group Founder and CEO Fredrick Hicks. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Senate Republicans stripped federal funds for Donald Trump’s White House ballroom from a spending package after the money triggered a blacklash from lawmakers in both parties.The removal of the funds Wednesday is a fresh setback for Trump who a day earlier Senate Republicans forced to scrap a $1.8 billion fund to pay allies who claim they were unfairly targeted by the government. Senate Republican leaders and the White House had sought to attach $1 billion for security upgrades related to the ballroom project and East Wing replacement onto a partisan measure to fund immigration enforcement.  Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Georgia Governor Brian Kemp. Democratic Congressman Jake Auchincloss of Massachusetts. See omnystudio.com/listener for privacy information.