Live: ASX to fall, SpaceX eyes mega IPO

live Live market updates: ASX tipped to open lower, SpaceX eyes $US135-a-share for mega IPO The ASX is set to fall after Wall Street pulled back from record highs as renewed Iran war fears hit risk appetite. Oil prices also climbed on fresh Middle East tensions. Meanwhile, all eyes are on SpaceX after it set a $US135-a-share IPO price for what could be the biggest float in history. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice. Submit a comment or question Live updates Key Event Thu 4 Jun 2026 at 7:38am Market Snapshot - ASX 200 futures: -0.9% to 8,734 points - Australian dollar: steady at 71.29 US cents - Wall Street: Dow Jones (-1.2%), S&P 500 (-0.7%), Nasdaq (-0.9%) - Europe: FTSE (-0.4%) - Gold: -1.2% to $US4,431/ounce - Silver: -3.21% to $US72.70/ounce - Oil (Brent crude): +1% at $US97/barrel - Iron ore: -1.5% to $US103.65/tonne - Bitcoin: -2.2% to $US65,471 Prices current around 7.30 am AEST New: Filters Choose what information you see below by using filters Key Event Thu 4 Jun 2026 at 8:02am SpaceX eyes biggest IPO in history Elon Musk’s SpaceX is preparing for what could be the biggest sharemarket float in history, after publicly setting a $US135-a-share price ahead of its planned Nasdaq listing. The rocket and satellite company is aiming to raise $US75 billion, which would be the most ever for an IPO according to Reuters. The deal would value SpaceX at about $US1.75 trillion, which would instantly put it among the ten most valuable listed companies in the US. What is unusual is how SpaceX is doing it. Normally, companies and their bankers spend the roadshow testing demand from big investors before settling on a price. But SpaceX has named its price early, breaking with the usual Wall Street playbook. There are questions though about whether that valuation is too high. SpaceX’s revenue rose 33 per cent last year to $US18.67 billion, but the company still posted a net loss of almost $US5 billion. Many analysts say it is hard to compare with other listed companies because it a business which cuts across many areas, rockets, satellites, defence, telecoms and Starlink internet and so on. Here's a chart which shows how SpaceX's IPO is set to compare with others. Thu 4 Jun 2026 at 7:46am ASX set to fall, RBA governor to front Senate estimates Good morning, and welcome to the ABC's finance blog. I'll be taking you through the latest market action this morning. The ASX is set for a weaker start this morning, after global markets lost ground. Wall Street pulled back from recent highs, with tech and financial stocks among the main drags, as renewed hostilities in the Middle East hit investor confidence. Oil prices also climbed, as hopes for a swift end to the Iran war faded again. Locally, there’ll certainly be a few things to watch. RBA governor Michele Bullock is due to appear before Senate estimates this afternoon, alongside assistant governor Christopher Kent. We will hear from deputy governor Andrew Hauser tomorrow as well. And we'll get fresh trade data at 11:30am AEST, which will give markets another read on demand for Australia's key exports. Anyway, sit back, grab a coffee or tea, and I'll be back with more updates shortly! Loading