Stocks rise as SpaceX fever lifts tech; yen flat after BOJ hikes rates
Global equities advanced Tuesday as SpaceX’s IPO-driven rally lifted tech stocks, while the yen remained under pressure following the Bank of Japan’s widely expected rate hike. Oil prices dipped on optimism for a U.S.-Iran framework deal, though markets tempered broader optimism. Asian shares closed mixed, with Japan’s Nikkei briefly hitting 70,000 before the BOJ’s move.
What changed
SpaceX’s IPO and its market impact have become the primary driver for tech stock gains, overshadowing earlier Iran deal optimism.
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Global stocks rise on SpaceX tech surge; yen flat after BOJ rate hike
confidence 92%Global equities advanced Tuesday as SpaceX’s IPO-driven rally lifted tech stocks, while the yen remained under pressure following the Bank of Japan’s widely expected rate hike. Oil prices dipped on optimism for a U.S.-Iran framework deal, though markets tempered broader optimism. Asian shares closed mixed, with Japan’s Nikkei briefly hitting 70,000 before the BOJ’s move.
What's confirmed:
- Global stock indices rose modestly as SpaceX’s IPO and subsequent share surge nearly 20% boosted technology sector valuations.
- The yen remained flat against the dollar after the Bank of Japan’s rate hike, with USD/JPY trading above 159.75.
- Japan’s Nikkei 225 briefly topped 70,000 for the first time before the BOJ’s rate decision.
- Oil prices held losses amid hopes for an end to the Iran war under a U.S.-Iran framework deal, though broader market optimism was tempered.
- Asian shares closed mixed, with the Hang Seng underperforming due to weak Chinese retail sales data.
Still unconfirmed:
- A U.S.-Iran interim deal to end the Middle East conflict is being discussed, though details remain unconfirmed.
- The BOJ’s rate hike was described as 'as expected,' but the specific rate change was not disclosed in primary sources.