As the largest-ever SpaceX initial public offering (IPO) wraps up successfully, global investors are shifting their attention to this week's U.S. Federal Reserve (Fed) meeting.
According to Bloomberg on the 15th local time, SpaceX finished its first day of trading on the New York Stock Exchange on the 13th at $160.95 (243,082 won), up 19% from the offering price of $135 (203,890 won). During the session, it at one point surged more than 30%. The company's market capitalization swelled to about $2.2 trillion (3,322.66 trillion won), placing it as the world's No. 6 listed corporations. First-day trading volume topped 522 million shares, drawing intense investor interest.
In the market, this IPO is being viewed not just as a SpaceX listing but as a litmus test for the artificial intelligence (AI) investment frenzy. In particular, with OpenAI and Anthropic—each valued at around $1 trillion (1,510.7 trillion won)—expected to enter the market as early as this year, there is a view that SpaceX's box office performance could serve as a gauge for the listing climate of large technology corporations going forward.
Dec Mularkey, director at SLC Management, said, "If SpaceX had not been well received by the market, it would have been a headwind for other mega-cap corporations preparing to list," adding, "This success will help sustain AI investment momentum."
However, Bloomberg analyzed that investors' focus is shifting from individual names like SpaceX to macroeconomic variables. While it confirmed that AI investment enthusiasm remains solid, the future direction of the stock market could be more heavily influenced by interest rates and inflation trends.
Investors are watching the Federal Open Market Committee (FOMC) meeting on the 18th. In addition to a decision on the benchmark rate, the first press conference by Federal Reserve Chair Kevin Warsh, nominated by U.S. President Donald Trump, is also scheduled. Trump has argued that despite heightened inflation pressures from the war with Iran, the Fed should cut rates more aggressively.
The market is focusing on the possibility of a shift in the Fed's future policy stance. At the FOMC in Apr., three regional Federal Reserve Bank presidents voiced dissent against maintaining an accommodative monetary policy stance, expressing concern about rising prices. However, with the U.S.-Iran cease-fire agreement that day sending international oil prices lower, expectations are growing that inflation pressures could ease.
Anthony Saglimbene, chief market strategist at Ameriprise, said, "While the market's attention is fixed on SpaceX, other variables that affect the market, such as inflation pressures, still exist," adding, "This Fed meeting will be a very important event that determines the path of stocks going forward."