WSJ Your Money Briefing - What’s News in Markets: AI Whiplash, SpaceX’s Historic IPO, Knicks Fever

Episode Date: June 13, 2026

Where are investors looking beyond AI? And how did the largest IPO in history move markets before it even started trading? Plus, can an NBA playoff run create shareholder value? Host Imani Moise discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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free of charge. BetMGM operates pursuant to an operating agreement with Eye Gaming Ontario. Hey listeners, your money briefing is still on a break, but we'll be back with more personal finance information for you in the future. Until then, here's the news moving the markets this week. Hey listeners, it's Saturday, June 13th. I'm Imani-Mauese for the Wall Street Journal. And this is what's news in markets, our look at the biggest stock moves of the week and the news that drove them. Let's dive in.

Markets went on a roller coaster ride this week. The Dow suffered its worst day of the year on Wednesday, after escalating conflict in the Middle East, raised concerns that higher oil prices could reignite inflation. But less than 24 hours later, sentiment flipped. On Thursday, President Trump said he was canceling planned strikes on Iran as negotiators worked toward a broader agreement. And stocks soared, with the Dow adding 930 points. Whether the ceasefire holds is an open question. But geopolitics wasn't the only thing driving more.

markets, investors were also grappling with growing questions about the AI trade and preparing for the largest IPO in history. After all the back and forth, major indexes ended the week slightly higher. The S&P rose 0.65%, while the Dow grew 0.66%. The NASDAQ gained 0.7%. Recent volatility has also reminded investors of the risks of a top-heavy market. The NASDAQ has swung more than 2% a day on average over the past week. more than double its typical pace.

Chip stocks were at the center of the turbulence. After months of seemingly unstoppable gains, shares in Samsung, S.K. Heinex, Marvell Technology, and other semiconductor companies, Whipsod. The initial sell-off was sparked by concerns that expectations for AI-fueled growth may have become too optimistic. But by the end of the week, many of those stocks rebounded.

SK Heinex shares rose nearly 4% this week, while Marvell technology gained a little over 6%. Samsung ended the week roughly 2% lower. The episode also encouraged some investors to look beyond the AI trade. While chip stocks dominated the headlines, transportation companies, financial firms, and materials producers quietly attracted fresh interest as investors searched for companies with strong earnings growth

and less demanding valuations. Among stocks that have hit record highs in recent days, are Old Dominion Freight Line, which has risen 58% this year, Ryder system, gain 46%, and logistics firm Mattson, added 61%. There's another reason markets have been so volatile lately, and it has nothing to do with chips, inflation, or the conflict in the Middle East. Investors were preparing for the launch of SpaceX.

And some analysts believe investors have been selling other stocks to raise cash for the offering. The rocket company went public yesterday in the largest IPO ever and immediately became the six most valuable U.S. listed firm, passing Elon Musk's other company, Tesla. Individual investors alone requested more than $70 billion worth of SpaceX shares. The company allocated about 20% of its shares to retail investors at $135 apiece. Many received only a fraction of the shares they requested. One trader posted that after requesting 450 shares, they were allocated just one. Even if they only got one share, early investors are doing pretty well.

SpaceX shares closed up 19% in its first day of trading, giving the company a market value of around $2.1 trillion. And finally, as a native New Yorker, I could not end this week's podcast without shouting out the Knicks. Shares of Madison Square Garden Sports, the publicly traded company that owns the Knicks and the Rangers hockey team, hit a record high during the NBA finals and have more than doubled over the past year.

Part of that enthusiasm comes from a proposal to split the Knicks and Rangers into separate companies, potentially unlocking value for shareholders. But analysts say every playoff win is helping too. An Eastern Conference Finals' home game can be worth roughly $20 million to the company, and NBA finals games are worth even more. Shares in MSG sports are up more than 52% so far this year,

which means Jalen Brunson may be one of the few athletes whose clutch shooting is actively moving a stock price. And now you know what's news in markets this week. You can read about more stocks that moved on the week's news in our live markets coverage on whishj.com. Today's show was produced by Anthony Bansy with supervising producer Melanie Roy. I'm Imani Moise.

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