Market Today: SpaceX Stock Slides, Fed Split on Rates, Blue Origin Raises $10B

Market Trends & Macroeconomics - SpaceX shares fell to $148, dropping below the initial public offering price of $150 following increased selling pressure [1][2] - The Federal Reserve maintained the benchmark interest rate at a range of 3.5% to 3.75% amid conflicting policy views on inflation and economic risks [3] - Geopolitical tensions between the US and Iran pushed Brent crude oil prices above $78 per barrel, causing a 576-point decline in the Dow Jones Industrial Average [5] - US gasoline prices averaged $3.79 per gallon, with analysts warning of further upward pressure due to Middle East instability [6] Corporate Developments & M&A - Blue Origin secured $10 billion in its first external funding round, achieving a valuation of $130 billion, with $2 billion contributed by Jeff Bezos and $4 billion by KOTU [4] - Microsoft initiated a restructuring plan involving approximately 4,800 job cuts across its gaming studios, offering severance packages including up to 39 weeks of base pay [8] - Vertex Pharmaceuticals announced the acquisition of Krenetics Pharmaceuticals for $10 billion, marking its largest acquisition to date to secure endocrine assets [10] - Levi Strauss exceeded second-quarter earnings and revenue forecasts and raised its full-year outlook, though shares fell over 5% in after-hours trading [8][9] Industry Insights - San Francisco's median one-bedroom rent reached a record $4,600, representing a 22% year-over-year increase driven by AI sector growth and housing shortages [6][7] - Used electric vehicle prices in the US spiked 12% year-over-year in June, outpacing traditional vehicle price gains due to rising fuel costs [7] - The US Postal Service will increase the price of a first-class "forever" stamp from 78 cents to 82 cents effective July 12th to address rising operational costs [10]