AI Summary
5 min readThis episode of The Rundown recaps Wednesday's stock rally giving way to early Thursday declines after President Trump's Iran speech, alongside major space developments like SpaceX's IPO filing and NASA's Artemis II launch, Tesla's Q1 deliveries, and select stock moves.
Market Shifts and Oil Surge
Stocks rallied Wednesday, with the S&P 500 up 0.7% and Nasdaq up 1.2%—its best two-day stretch since last May—fueled by stronger-than-expected February retail sales (0.6% vs. forecasts) signaling consumer resilience, and oil dipping below $100/barrel amid hopes the Iran war was easing. Trump's evening speech dashed that optimism, pledging intense U.S. strikes on Iran for 2-3 more weeks without a Strait of Hormuz reopening plan. Oil surged afterward, dragging stocks lower into Thursday. With markets closed Friday for Good Friday, volatility looms, though stocks could still end the week positive for the first time in five absent a big sell-off. March retail sales data, post-oil spike, will be key.
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What you'll learn
- 1 (00:00) **Intro and Episode Preview** - Host Zayd Mani outlines oil surge, SpaceX IPO, Tesla deliveries, and space news
- 2 (00:34) **Stock Market Rally Overview** - S&P up 0.7%, Nasdaq up 1.2% on strong retail sales and de-escalation hopes
- 3 (01:19) **Trump's Iran Speech Impact** - Oil surges after Trump vows continued hard hits on Iran, no Strait of Hormuz plan
- 4 (02:22) **SpaceX Confidential IPO Filing** - SpaceX files with SEC, eyeing $40-75B raise at $1.75T valuation
- 5 (03:46) **SpaceX Timeline and Hype** - Potential June listing; space industry buzz and AI data centers potential
- 6 (04:04) **Tesla Q1 Deliveries Miss** - 358K vehicles delivered, below 370K estimates; down 14% QoQ
- 7 (05:36) **GlobalStar Stock Surge** - Up 10% on FT report of Amazon buyout talks for satellite network
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Show Notes
Market update for Thursday April 2, 2026
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In today’s episode:
Oil surges 8% after Trump's prime-time speech signals escalation in Iran
SpaceX files confidential IPO paperwork with the SEC, aiming to raise up to $75 billion in what could be the largest public offering in history
Tesla reports 358,000 Q1 deliveries, missing Wall Street estimates for the second straight quarter
Globalstar stock surges on reports Amazon is in talks to acquire the satellite company for $9 billion
Blue Owl Capital caps redemptions after investors request 22% withdrawal from its $36 billion private credit fund
NASA's Artemis II successfully launches four astronauts toward the moon, the first crewed mission beyond low Earth orbit in over 50 years
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