Australian shares surged on Friday after US President Donald Trump said a peace deal with Iran could be signed as soon as the weekend, raising hopes for an end to the conflict that has roiled markets. The S&P/ASX 200 Index advanced 128.90 points, or by 1.5 per cent, to 8762.10 by 10.10am AEST, with nine of the 11 sectors stronger. The benchmark is on track to rise to 1.6 per cent for the week. West Texas Intermediate fell almost 3 per cent at the open to $US85.13 a barrel, its lowest level since April 17, before trimming losses later in the session. Trump vowed to hit Iran again and threatened to seize its oil infrastructure, before announcing attacks were off and a deal was close, without confirmation from Tehran. Trump has repeatedly said a deal with Iran was imminent on numerous occ
The Initial SpaceX Frenzy Is Cooling Off, but a New Wave of Cash Is Waiting to Strike
SpaceX is expected to secure index entry in the coming days and weeks, unlocking a new source of investor demand after there's been 'striking' breadth so far. SpaceX President Gwynne Shotwell and other company leaders ring the opening bell at the Nasdaq Marketsite for the company's IPO on June 12. It's been a volatile first week of trading for SpaceX.SpaceX shares are ever-so-slightly coming back down to earth - but stock indexes represent a fresh catalyst that lurks on the horizon.At its intraday high on Tuesday, SpaceX's stock was up 67% from its initial-public-offering price of $135, en route to a third straight gain since its debut. But as momentum cooled over the course of the week, SpaceX shares now stand just 33% above their IPO price.Some index providers have passed rules making it easier for large companies to gain entry shortly after their IPOs. The Center for Research in Securities Prices tweaked its policies to allow for newly public companies to join its indexes after jus