Equities & Funds news from the last 24 hours, AI-curated by PiQ Markets

SpaceX has made a record-breaking debut on the Nasdaq, with its shares closing up 19% on the first day of trading and pushing the company's valuation past $2 trillion. The initial public offering, priced at $135 per share, raised $75 billion, making it the largest IPO in history. This event has propelled Elon Musk to become the world's first trillionaire and created over 4,400 millionaires among employees. Despite strong investor demand, including significant allocations to retail investors, concerns about a small free float and high valuation suggest potential volatility. Options trading is set to begin, while leveraged ETFs have been delayed due to SEC concerns. Meanwhile, Uday Kotak questioned the valuation, calling it a potential 'mega bubble,' and protesters demonstrated against the IPO and Musk's wealth.

Several investment funds adjusted their portfolios in May, with Quant Small Cap Fund adding Adani Enterprises and eight other stocks while reducing holdings in Aurobindo Pharma. HDFC Defence Fund also made adjustments, adding Tata Motors and increasing exposure in five other stocks, while reducing holdings in MTAR Technologies and Rishabh Instruments. In a separate development, Vanguard's India equity portfolio saw a 44% increase in listed holdings in Q4, with twelve stocks gaining up to 87%. Meanwhile, fifteen penny stocks with market caps below Rs 1,000 crore have returned 20%-80% in three months, though investors are cautioned about their volatility. This week, 44 stocks, including Infosys and Adani Enterprises, are set to go ex-date, impacting eligibility for corporate actions.

North Carolina secured a 6-2 victory over Mississippi in the College World Series, with Colin Hynek's eighth-inning three-run homer breaking a tie. The Tar Heels advance to face West Virginia, while Mississippi faces elimination. In another College World Series game, West Virginia defeated Troy 7-5 in their debut appearance. Meanwhile, in NCAA Super Regionals, North Carolina's Jason DeCaro pitched a complete-game shutout to defeat USC 4-0, forcing a decisive Game 3. Georgia also secured a win over Mississippi State in a high-scoring super regional game.

Private markets are experiencing a significant liquidity crunch, with executives at a Berlin conference citing difficulties in raising capital and weaker incomes. A Bain & Co report suggests companies are being held longer, leading to a backlog of unsold assets. In the U.S. private-credit sector, dividend coverage for lenders has fallen to 0.99 times earnings in Q1 2026, raising investor risk, especially with payment-in-kind interest. This caution is reflected in BlackRock's private credit fund, which saw redemptions rise to 13.3% in Q2. Amid these concerns, investment firms like DoubleLine and Oaktree are reportedly buying debt, anticipating potential credit risks tied to artificial intelligence.

The Baltimore Orioles secured their fifth consecutive win by defeating the San Diego Padres 7-3, with Gunnar Henderson hitting his 100th career home run. The Padres' loss extended their road skid to six games. In other games, the Miami Marlins continued their strong performance with an 8-3 victory over the Pittsburgh Pirates, marking their seventh straight win. Meanwhile, the Boston Red Sox ended a four-game losing streak, defeating the Texas Rangers 10-1 behind a home run from Ceddanne Rafaela and a solid pitching performance from Sonny Gray.

The Chicago White Sox defeated the Los Angeles Dodgers 8-2, extending their home win streak to 19-3 in their last 22 home games. In other baseball news, White Sox rookie Munetaka Murakami is recovering from a hamstring injury sustained on May 29 and is expected to be sidelined for four to six weeks. Meanwhile, the New York Mets are set to host the Atlanta Braves for a three-game series, with the Braves holding a superior overall record.

India's market regulator, Sebi, is exploring several initiatives to enhance its capital markets. Chairman Tuhin Kanta Pandey announced plans to introduce longer-term futures and options contracts, expand commodity derivatives, and develop bond index derivatives in collaboration with the RBI. Sebi is also simplifying KYC norms for foreign portfolio investors (FPIs) to attract global capital and has approved IPOs for companies in the steel, industrial equipment, and bio-energy sectors, including Bombay Coated, Bonfiglioli Transmissions, and Swaraj Green Power.

Major League Baseball saw three series openers on Friday night with close contests. The Minnesota Twins edged out the St. Louis Cardinals 9-8, propelled by late-inning home runs. In another game, the Arizona Diamondbacks secured a 5-2 victory over the Cincinnati Reds, with a ninth-inning error proving decisive. The Oakland Athletics also claimed a win, defeating the Colorado Rockies 6-4, with a seventh-inning throwing error allowing the go-ahead run and an RBI single sealing the win.

Baseball saw several standout offensive performances, including Nick Fortes of the Tampa Bay Rays and Colt Emerson of the Seattle Mariners, who both contributed to their teams' victories. Fortes had a four-hit game against the Los Angeles Angels, while Emerson homered in a five-run second inning that helped the Mariners defeat the Washington Nationals 10-2. The Mariners' pitcher Bryce Miller delivered a strong performance, pitching eight innings. In other baseball news, the Kansas City Royals are set to face the Houston Astros, with a notable four-hit performance by Caglianone.

Formula 1's Kimi Antonelli continues his dominant streak, leading the championship with five consecutive wins and putting pressure on teammate George Russell. Meanwhile, Ferrari drivers Lewis Hamilton and Charles Leclerc are positioned third and fourth for the Monaco Grand Prix, aiming to overtake Antonelli and Max Verstappen at the start. In broader market news, major stock indices like the Dow Jones Industrial Average and S&P 500 show resilience, though the FTSE 100 faces potential challenges, with market participants awaiting economic data and central bank insights.

Detroit Tigers pitcher Jack Flaherty exited Friday's game against the Cleveland Guardians in the third inning with left leg discomfort. He allowed two runs on three hits with one walk and one strikeout before leaving the game. The Guardians defeated the Tigers 3-2, with Tanner Bibee earning his second consecutive win after striking out eight over seven-plus innings. The Tigers also activated reliever Kenley Jansen from the injured list prior to the game, with further roster moves anticipated.

Shubman Gill has become the 11th Indian captain to score 1,000 Test runs, achieving this milestone during a match against Afghanistan. Meanwhile, the first ODI between India and Afghanistan in Dharamshala is under threat from severe weather, with an orange alert predicting thunderstorms, lightning, and hail, potentially disrupting play. Sai Sudharsan credited head coach Gautam Gambhir and his teammates for his own Test fifty in the series, citing the confidence they provided.

New York Mets shortstop Francisco Lindor is nearing a return, with team president David Stearns optimistic about his availability by the end of June after recovering from a strained left calf and participating in simulated games. Meanwhile, Jorge Polanco's rehabilitation assignment at Triple-A Syracuse has been extended to build more 'volume,' with his return to the major league team to be re-evaluated after the weekend. Across town, Giancarlo Stanton of the New York Yankees has taken live batting practice for the second time in four days, with the team hopeful for his imminent return to the lineup.

Elon Musk is now the world's first trillionaire, with an estimated net worth of $1.11 trillion. This unprecedented wealth surge is largely attributed to SpaceX's record-breaking stock market debut and Tesla's performance. Musk's fortune has seen a dramatic rise over the past six years, significantly surpassing other global tech billionaires and redefining the scale of personal fortunes.

Memory chipmaker Kioxia Holdings has surpassed Toyota Motor to become Japan's most valuable company, fueled by a massive surge in demand for AI data center chips. Kioxia's stock has seen an extraordinary rise of over 670% in 2026. Meanwhile, South Korean stocks experienced a rebound on Friday, with the Kospi index closing up 4.6%, driven by investor interest in AI semiconductor stocks. Despite the weekly gain, the Kospi index finished the week down 0.5% overall due to earlier volatility.

The NBA Finals are seeing increased viewership as the "Inside the NBA" crew makes their debut on ESPN and ABC. This coverage coincides with the New York Knicks taking a commanding 3-1 lead over the San Antonio Spurs, placing them one win away from securing the championship title. The broadcast team's presence on these major networks marks a significant moment for the show and the league's visibility.

India's wealth management sector is booming, with projections indicating a doubling in value by 2029, fueled by a rise in affluent households and a robust IPO market. Startups and large corporations are actively entering the space to capture market share. Concurrently, a separate trend shows young American men increasingly engaging with prediction markets, drawn by the potential for substantial profits from high-risk, speculative investments.

The Vegas Golden Knights have won their first Stanley Cup championship, defeating the Florida Panthers 9-3 in Game 5 of the Stanley Cup Final. Jonathan Marchessault was named the Conn Smythe Trophy winner as the playoff MVP. The victory marks a historic achievement for the franchise in just its sixth season. Meanwhile, sports fans can look forward to a packed schedule of events on June 13-14, including the NBA Finals, FIFA World Cup qualifiers, and major golf tournaments across various sports.

Milwaukee Brewers pitcher Jacob Misiorowski threw a complete-game one-hitter against the Philadelphia Phillies, striking out a career-high 15 batters in a 6-0 victory. This performance set a new season high for strikeouts by any pitcher. The Brewers, currently leading the NL Central, are hosting the Phillies, who are second in the NL East, for a three-game series. The Brewers boast a strong home record and team on-base percentage, while the Phillies excel when hitting multiple home runs.

Investment banks are poised for a strong second quarter, with JPMorgan predicting significant trading income driven by mega-IPOs and market volatility. The potential SpaceX IPO alone could generate a $500 million fee pool, with lead banks Goldman Sachs and Morgan Stanley each receiving around $100 million. This outlook for institutional finance contrasts with a rare level of bullishness among Wall Street analysts focused on individual company earnings, as a strong earnings season nears its close.