SpaceX is reportedly targeting a valuation of about $1.8 trillion as it prepares to go public next Friday, trading on the Nasdaq exchange under the ticker symbol SPCX.
Last month, Goldman Sachs was selected as the lead bank for the SpaceX listing, alongside Morgan Stanley. JPMorgan, Bank of America, and Citigroup are also among the 23 banks working on what will be the largest-ever listing, expected to raise a staggering $75 billion by selling about 555.6 million shares. The planned IPO price is about $135 per share.
Retail investors will be able to participate at the same prices as the big institutions. Expected SPCX price of $135 per share → https://t.co/eKBA0tzXbH
— SpaceX (@SpaceX) June 4, 2026On Wednesday, we told readers that SpaceX's roadshow for institutional investors was set to begin on Thursday.
A new Bloomberg report states that JPMorgan CEO Jamie Dimon is set to hold a "live interactive discussion" later today. He will be joined by Mary Callahan Erdoes, CEO of the bank's asset and wealth management division, and two SpaceX executives: President Gwynne Shotwell and Chief Financial Officer Bret Johnsen.
The event will be streamed to 90 JPM locations across 26 states, according to Bloomberg sources, with more than 2,500 of the bank's clients expected to watch.
JPMorgan's nationwide roadshow for SpaceX shows that demand is extending deep into the private-wealth client base for this once-in-a-generation listing.
With the SpaceX roadshow underway, Morningstar equity analyst Nicolas Owens attempted earlier this week to temper the hype around the listing by publishing a note saying, "We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO."
Meanwhile, Polymarket odds for "SpaceX IPO closing market cap above ___?" currently stand at 89% for a market cap above $1.8 trillion.
//--> //--> SpaceX IPO closing market cap above $1.8T?SpaceX's listing next week will pave the way for other mega IPOs, such as those of chatbot makers OpenAI and Anthropic.
Tyler Durden Thu, 06/04/2026 - 09:30Authored by Steve Watson via Modernity,
Officers from the force that failed Henry Nowak have now admitted they felt "controlled and pressured to feel certain ways" after mandatory DEI sessions that hammered home 'white privileged' and unconscious bias.
The trainer outsourced to deliver the course was described as "deeply hateful of white people and British culture." Serving and former Hampshire officers told former Home Secretary Suella Braverman they were furious but stayed silent out of fear for their careers.
Multiple officers from Hampshire Constabulary have now gone on record about the ideological pressure inside the force.
Several serving and former Hampshire Police Officers have told me that 'we had it drummed into us about our white privilege and unconscious bias'.
Training was outsourced to a third party company and the trainer 'was deeply hateful of white people and our culture.'
Officers... https://t.co/2h0Ns1NnRA
They described how DEI modules on white privilege, unconscious bias, and the importance of being an "ally" were drilled into them.
'Do we think the training that those officers were forced to do might have ultimately contributed to Henry's terrible final moments? because I do.'
@PatrickChristys unveils a plethora of diversity and inclusion guides applied within Hampshire & Isle of Wight Constabulary. pic.twitter.com/jRe1K31224
It's not limited to this one police force either.
Back in April 2025, we detailed how UK police forces were already forcing officers into training explicitly designed to make them accept their "white privilege."
Thames Valley Police rolled out mandatory equity training covering white privilege, micro-aggressions, and the push from "non-racist" to "anti-racist." An independent review led by former assistant chief constable Kerrin Wilson found the sessions created deep divisions.
White officers expressed strong frustration and felt disadvantaged, while some minority officers said the training was harmful to real diversity efforts and would deter them from seeking promotion.
Former government advisor and ex-police officer Rory Geoghegan warned that crude categorisation by skin colour and critical race theory ideology had no place in an impartial police service.
The Hampshire police chief has publicly denied any anti-white bias or two-tier system. Yet the bodycam evidence and these officer admissions tell a different story.
Hampshire Police Chief denies police are "anti-white" after officers handcuffed and arrested Henry Nowak after he was stabbed and falsely accused of 'racism.'
"Do we have a two-tier type policing system? I would refute that. I would say absolutely not!" pic.twitter.com/GIx1La0ZJ7
An ex-cop who reviewed the footage called the response "unfathomable," rejecting excuses about fast-moving situations or complexity. Basic procedure requires treating a victim who says he has been stabbed and cannot breathe as a medical emergency first - not as a potential racist offender based on the word of the man who stabbed him.
Yet, the police watchdog investigated the officers' conduct and concluded there was no wrongdoing.
"We have investigated ourselves and decided we did nothing wrong" pic.twitter.com/Aq1sFo4cL7
- Basil the Great (@BasilTheGreat) June 3, 2026This is the same pattern seen in other high-profile failures: institutions investigate themselves, apply their own captured standards, and declare everything acceptable.
The public saw the footage. Henry Nowak's family saw their son die after being treated as the problem rather than the victim. The watchdog saw no issue.
Meanwhile, Prime Minister Keir Starmer has defended religious exemptions that allow Sikhs to carry large ceremonial knives in public. At the same time, British women face prosecution for carrying ordinary pepper spray for self-defense on the streets at night.
BREAKING:
Keir Starmer says he won't remove the exemption which allows Sikhs to carry large ceremonial knives on them.
Meanwhile, English women are being prosecuted for carrying regular pepper spray on them when out on the streets at night pic.twitter.com/d8PF2NkdSL
To make matters even worse, a tiny replica sword from a video game will land a white British man in prison.
You will go to jail for owning a miniscule video game sword replica in the UK.
But if you're a foreigner, you will be exempt from the law entirely. pic.twitter.com/LCkhv50Y2O
The contrast could not be clearer.
Religious or cultural exemptions shield other groups from the same strict weapons laws. Henry Nowak's case shows what happens when the system already views native Britons through a lens of presumed guilt or lesser priority.
Henry Nowak was not a threat. He was a student who had been stabbed and was dying in front of officers trained to see race first and humanity second. The attacker walked away with different treatment. The victim's pleas were secondary to a racism narrative pushed by the perpetrator's side.
This is the predictable result of years of ideological capture inside policing - training that reframes basic law enforcement as potential oppression when the victim is white and British.
Officers who spoke out did so at personal risk. The watchdog protected the system. Starmer protects exemptions for some while ordinary citizens, especially women, are left defenseless under the same rules.
Britain's police were once expected to protect the public without fear or favor. When training teaches officers to weigh skin color and ideology before acting on a dying man's words, the institution has already failed its core purpose. Henry Nowak paid the price. The admissions now emerging confirm what the footage always showed.
The pushback against this capture is growing. Exposing the training, the excuses, and the double standards is the first step toward restoring policing that serves the entire country rather than imported ideologies. Native Britons deserve equal protection under the law - not to be treated as somehow 'privileged' while they bleed to death.
Tyler Durden Thu, 06/04/2026 - 09:15Ford reported U.S. sales of 190,828 units in May, down 13.6% year over year, bringing year-to-date sales to 826,810 units, down 11%. The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sales declined 16%.
Among key nameplates, Mustang Mach-E and F-150 Lightning both posted declines of roughly 45%, while Escape sales fell more than 80% as Ford continues to de-emphasize the model. Offsetting some of the weakness, Bronco, Explorer, Maverick, Transit and Heavy Trucks all delivered year-over-year growth.
The sales results generally appeared consistent with management commentary at the UBS Autos and Auto Tech Conference, where Ford indicated that industry demand trends in May unfolded largely as expected. Executives specifically noted that some of the volume declines associated with products such as Escape were anticipated as the company continues shifting its mix toward higher-margin vehicles.
More importantly, management reiterated that 2026 is tracking in line with expectations outlined during first-quarter earnings. A key focus remains the recovery from the Novelis aluminum supply disruption, which is expected to result in $1.5 billion to $2.0 billion of incremental costs this year. Ford incurred approximately $300 million of those costs during the first quarter and expects the impact to increase during the second and third quarters before easing as Novelis returns to full capacity in the fourth quarter. According to management, the recovery remains largely on track despite some expected unevenness along the way.
The company also remains comfortable absorbing an estimated $2 billion year-over-year commodity headwind, which is fully incorporated into Ford's $8.5 billion to $10 billion adjusted EBIT guidance. Management additionally pointed to stable pricing conditions, suggesting that recent industry concerns about demand deterioration have yet to materially impact Ford's business.
Looking beyond 2026, Ford outlined several potential earnings drivers for 2027. The most obvious benefit will be the absence of the Novelis-related costs, but management also highlighted ongoing improvements in warranty performance, material costs and launch expenses as the company moves beyond several major investment cycles. Ford expects these gains to help offset spending associated with future growth initiatives.
Those initiatives continue to center around Battery Energy Storage Systems (BESS) and Ford's next-generation EV architecture, which management increasingly describes as a broader platform opportunity rather than a single vehicle program. The company plans to invest approximately $1 billion across BESS and the Universal Electric Vehicle (UEV) platform this year, with spending accelerating in the second half.
Ford remains particularly enthusiastic about the UEV platform, which is scheduled to launch in 2027. Management believes the architecture can support feature-rich, technology-focused vehicles at price points around $30,000, potentially allowing EVs to compete directly with internal combustion vehicles rather than just other EVs. Prototype vehicles are already being tested in Michigan, and executives continue to emphasize the platform's scalability and potential for attractive economics as volumes grow.
The BESS opportunity also appears to be gaining importance in Ford's long-term strategy. Management highlighted progress toward bringing its 20 GWh facility online by the end of 2027 and expressed confidence regarding eligibility for production tax credits and other incentives. Executives suggested that Ford's licensing arrangement with CATL provides a unique advantage that may be difficult for competitors to replicate, while also noting that the company sees no current issues regarding supply-chain compliance.
Another potential source of upside is Ford's Super Duty business. Management indicated that the capacity ramp continues to progress well, providing additional optionality should demand remain strong.
Taken together, the UBS discussion reinforced the view that Ford's investment story is becoming less about monthly sales fluctuations and more about the earnings framework management is building for the latter part of the decade. While May sales remained under pressure, management's message was largely unchanged: 2026 is unfolding as expected, the Novelis recovery remains on track, and the company continues to position itself around battery storage, next-generation EVs and a structurally more profitable core business heading into 2027.
Tyler Durden Thu, 06/04/2026 - 09:00Authored by Dave DeCamp via AntiWar.com,
President Trump on Wednesday downplayed Iranian attacks that targeted US bases in Kuwait and Bahrain, saying they may have been "slightly provoked" since the US launched strikes against Iran beforehand.
"There's a reason for everything, and we hit them pretty hard last night," the president told reporters in the Oval Office. "Some people would say they were slightly provoked because we took a strong action for a different reason, so they were reciprocating."
Source: The White HouseIran launched the missile and drone attacks after the US bombed a commercial ship attempting to reach Iran and launched strikes on Iran’s Qeshm island.
During the Iranian attack on Kuwait, a passenger terminal at Kuwait’s international airport was hit, and at least one person was killed, and more than 60 were injured. Local officials said the terminal was hit by Iranian drones, which Iran denied, claiming that it was struck by an errant US Patriot missile interceptor.
Kuwait’s aviation authority later released a video of the strike that appeared to show a drone striking the terminal.
US Central Command denied Iran’s allegation in a statement that came after it claimed that Iranian missiles fired at Kuwait "fell short or broke apart en route" and a second wave of Iranian drones failed to hit their intended targets.
"An additional wave of Iranian drones attempting to attack US forces in Kuwait failed to impact intended targets tonight. US Central Command air defenses successfully downed multiple drones and ensured no American personnel or assets were harmed," CENTCOM said.
Trump on Iran attacking Kuwait:
There is a reason for everything, and we hit them pretty hard... They were slightly provoked; they were reciprocating. pic.twitter.com/VvIgyJHb3m
Despite the casualties at the Kuwait airport, Trump said the Iranian attacks were "not a big deal" and that the US "nipped it in the bud very quickly." When asked if the ceasefire was still in place, he said, "In that part of the world, ‘ceasefire’ is when you’re shooting in a more moderate manner."
Iran’s attacks were its most significant response yet to US violations of the ceasefire, representing a new Iranian strategy to avoid more “tit-for-tat” strikes. Iranian Foreign Minister Abbas Araghchi vowed on Wednesday that Tehran would continue to have a strong response to any US attacks.
"Our Armed Forces are conducting self-defense strikes on sites the US is permitted to use to attack civilian shipping and violate the ceasefire," Araghchi wrote on X in a post that included a video of US Secretary of State Marco Rubio praising the UAE and Kuwait for being cooperative with US military operations.
Kuwait's civil aviation authority released surveillance footage it says is an Iranian drone crashing into its international airport on Wednesday.
Follow live updates on the Iran war: https://t.co/s1XGe7eeW2 pic.twitter.com/5LTFWaj0sX
"Any hostile act will be met with an immediate, decisive response. What sanctions and war failed to achieve won’t be won with more war," the top Iranian diplomat added.
Tyler Durden Thu, 06/04/2026 - 08:45