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SpaceX IPO, World Cup Kickoff, & The Hardware Seesaw: The Weekly Sift Stack - 6.8.2026 (Issue 29)

SpaceX IPO, World Cup Kickoff, & The Hardware Seesaw: The Weekly Sift Stack - 6.8.2026 (Issue 29)

Summary: Welcome back to The Weekly Sift Stack, where Tyler Sherven, CJ Gettelfinger, & Lucas Nulsen break down the biggest stories moving the markets.

Tyler Sherven & CJ Gettelfinger
June 10, 2026

This material is for educational purposes only and is not intended to provide specific investment advice or recommendations. Investing involves risk, including loss of principal. Any forward-looking statements or expectations regarding company earnings are based on publicly available analyst estimates and are not predictions or guarantees of future performance.

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Index Tracker Year-To-Date Performance 6/10/2026 Market Open:

S&P 500 TR: 8.25%
- Price: 7,386.65
NASDAQ 100 TR: 15.73%
- Price: 29,084.50
Russell 2000 TR: 14.85%
- Price: 2,867.02
MSCI International EAFE TR: 6.94%
- Price: 11,340.74
Bloomberg U.S. Aggregate Bond Index TR: (0.01)%
- Price: 2,343.16
Bloomberg U.S. Municipal Bond Index TR: 1.75%
- Price: 1,416.83
10-Year Treasury Yield: 4.528%
30-Year Mortgage Rate: 6.68%
Gold: (3.95)%
- Price: $4,171.00 per oz.
Bitcoin: (29.60)%
- Price: $61,539.31
U.S. Dollar Index: 1.66%
- Price: 99.91
Crude Oil: 40.51%
- Price: $80.72 per barrel
Core Inflation 4.30.2026
- Year Over Year: 2.8%
Consumer Price Index 4.30.2026
- Year Over Year: 3.8%

Index Tracker Notes:

The S&P 500’s historic 9-week weekly winning streak ended last week, driven by a chip-led sell off that grew into Friday 6/5/2026, as the S&P 500 slumped 2.6%. Moreover, the NASDAQ 100 fell even further on Friday, 4.18%, its biggest drop since the Tariff drawdown of April 2025. The Bloomberg U.S. Aggregate Bond Index drew into negative territory YTD, as yields climbed on sticky inflation and stronger than expected jobs data.

Stock of The Week: SpaceX (SPCX)

Buckle up. This week is certainly setting itself up as one to remember. The largest IPO of all time goes live this Friday. SpaceX is seeking to raise a record setting $75B in funding, will be trading at $135/share, and will go live at a $1.77T valuation. As discussed over the past few weeks, the company is clearly going public at a valuation that far exceeds its current fundamentals. That being said, today we want to discuss a few of the companies main profit driving areas and a deep dive into trying to understand the “Elon Premium” and if buying shares of SpaceX truly is buying a piece of the future.

If there’s one thing we can all agree on its that space (whether we get there or not) is going to be expensive. SpaceX main revenue driver currently is Starlink, accounting for $11.4B or 61% of SpaceX 2025 annual revenue. Starlink has done an amazing job picking up customers over the past few years and is under contract now with over 12 million customers and some large names like T-Mobile, United Airlines, American Airlines, John Deere, Carnival, Royal Caribbean, and many more. There are currently two versions of Satellites Starlink in production and a third on the way. V1’s cost roughly $200k-250k to make, V2 are a large upgrade valued between $800k-1m, and V3 are expected to cost roughly $1.2m. What is most astonishing about these satellites isn’t just what they can do and provide, but instead the sheer volume that SpaceX has been producing and sending into orbit. The first Starlink launch was in 2019, at that time there were over 1900 global satellites in orbit. Fast forward 7 years later, the global number has climbed quite well, to 5600 while Starlink has exploded to 10,000.

Before we start talking about Data Centers in space, let’s discuss a real tangible revenue driver for SpaceX, their current data centers Colossus 1 & 2. Located in Tennessee and Mississippi these data centers are focused almost entirely on providing computing power for Ai. Big news over the past few weeks has been partnerships with Anthropic and now Google to provide compute power. The Google deal brings in a massive $920m per month deal or over $11B a year. This is where the market has really been bullish over the past 12 months. The winners have been the infrastructure companies. The ones getting paid by the hyper scalers, and this is just another item that makes SpaceX so intriguing.

The final piece of the puzzle when considering SpaceX is what’s the premium you’re willing to pay for investing into a piece of the future. Analysts are split. It’s easy to say it’s over valued and doesn’t make enough revenue to support and will burn through cash faster than it can make it, but other’s choose to look beyond the balance sheet today and want to focus on what owning a piece of SpaceX today could look like 50 years from now.

SpaceX (SPCX) Key Facts

CEO: Elon Musk
Headquarters in Starbase, TX
Market Cap: $1.77 Trillion
Sector: Aerospace, Satellite Communications, and Technology
52-week range: $135
2025 Annual Revenue: $18.67 Billion
2025 Annual Net Income: -$4.94 Billion
Morningstar Economic Moat Rating: N/A
PE Ratio: Forward 56x
Pictured is total successful and failed rocket launches per year from 1957 to roughly present-day

Chart of The Week: Bull Markets & Bear Markets

The stock market often feels like one of two things; let the good times roll, or when will this be over. History supports that argument quite well. The chart above shows over 65 years of returns for the S&P 500 broken into Bull and Bear markets. In this example, the average Bull Market lasts roughly 63 months (5.25 years) and averages +172% return. While the average Bear Market only lasts 13 months (1.1 years) and averages a -35.7% drawdown. In summary; the growth is long but rewarding, the drawdowns are quick and short.

Weekly Insight: Drug Giants Race to Lead the New Weight-Loss Pill Market

Source: Google Finance

Two of the biggest names in diabetes and obesity treatment, Novo Nordisk $NVO ( ▲ 0.77% ) and Eli Lilly $LLY ( ▲ 2.96% ) , have been going head-to-head over a new prize: the GLP-1 pill market for weight loss. The race was on full display this weekend at a major diabetes conference, where both companies showed off their new pill versions of popular obesity drugs.

The timing is key. Starting July 1, millions of seniors on Medicare will be able to get these weight-loss drugs for just $50 a month. That opens up a huge group of new customers, and both companies want to grab as much of it as they can.

Sports, Sports, Sports: World Cup, NBA Finals, & Stanley Cup Finals

World Cup: 48 countries embark on the biggest World Cup in history this Wednesday. Lamine Yamal and Spain are camped out in Chattanooga Tennessee, Mbappe and France are in Massachusetts, Messi and Argentina are in Kansas City, while Ronaldo and Portugal are in Palm Beach Gardens, Florida. Many European & Asian teams are currently taking measures to adjust to the North American heat. Despite what might be the last world cup for the Goats, Messi and Ronaldo, Portugal and Argentina remain top 5 favorites to win the tournament.

NBA Finals: The NY Knicks lead the Spurs 2-1 in the Finals, with Game 4 set for tonight in New York. New York stole the first two games in San Antonio but couldn't hold serve at home, dropping Game 3 by a 115-111 final. The Knicks are still chasing their first championship since 1973 and sit as narrow favorites heading into a pivotal Game 4. Both President Trump and NYC Mayor Mamdani were in attendance for the Knicks’ first finals home game.

Stanley Cup Finals: The Stanley Cup Final is knotted at 2-2 after the Carolina Hurricanes took Game 4 in Vegas, 5-3, on Tuesday night. The Golden Knights had grabbed a 2-1 series lead with a 5-4 win at home in Game 3, but Carolina answered to even things up. The series now shifts back to Raleigh for a pivotal Game 5 on Thursday, with the Hurricanes holding home ice.