Daily Open Newsletter
U.S. President Donald Trump recently signed an executive order in the Oval Office. This happened on June 3, 2026, in Washington, DC.
It feels like we might be on the brink of something significant. SpaceX’s record-setting IPO is set for next week. Meanwhile, a cease-fire between Israel and Lebanon has eased oil supply concerns. Trump mentioned, with a hint of optimism, that a deal with Iran could be finalized “over the weekend.” Investors seem to think that some of this year’s major issues might be nearing resolution.
What you need to know today
World stock markets are trending downward, with Asia-Pacific shares mirroring the losses seen on Wall Street. Futures in Europe and the U.S. hint that today’s trading could continue this downward pressure. On a more positive note, oil prices dipped slightly after the ceasefire agreement, raising hopes for a larger deal involving the U.S., Israel, and Iran.
In an interview with CNBC’s Sara Eisen, Israeli Prime Minister Benjamin Netanyahu shared that Trump had instructed Iran about the possibility of a “full return to military action” if needed. Although the U.S. and Israel often align on Middle Eastern strategy, Netanyahu acknowledged there are some tactical disagreements.
In a symbolic gesture, the U.S. House of Representatives cautioned Trump’s authority concerning Iran. Four Republicans joined Democrats in approving a resolution that seeks to require Congressional consent for any continuation of military actions.
On the corporate front, SpaceX has made its IPO price official, setting it at $135 per share with a valuation of $1.77 trillion. This could position CEO Elon Musk as the world’s first trillionaire. Yet, history suggests that initial public offerings often experience significant downturns within the first year, so it’s wise to stay cautious.
Additionally, the EU has rolled out a much-anticipated “technology sovereignty” package aimed at reducing dependency on major tech firms in the U.S. and China. However, there’s criticism that the effort might not go far enough. Nick Clegg, a former British deputy prime minister and Meta’s ex-head of international affairs, described Europe’s AI legislation as “a dog’s dinner.”
In other news, Trump announced via Truth Social that he plans to attend the G7 in Evian, France, later this month, where he might cross paths with OpenAI’s Sam Altman, who received a personal invitation from French President Emmanuel Macron.
And finally…
Concerns over SoftBank’s OpenAI investments amid rising debt
SoftBank’s ascent to being Japan’s most valuable company has drawn attention, prompting questions about whether it’s overstepping with its risky investments in artificial intelligence. Shares of the tech investment giant, led by Masayoshi Son, have surged roughly 70% this year due largely to excitement around AI. This enthusiasm is fueled by the soaring valuation of chip designer Arm Holdings and speculation about OpenAI’s potential IPO this year.
This remarkable rise has propelled SoftBank past Toyota in market capitalization, marking a significant recovery for a company previously burdened by the WeWork fiasco, which cost them over $14 billion. However, analysts caution that this renewed optimism might be overshadowing increasing risks on the balance sheet.
