Stock markets rallied worldwide, and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again. The S&P 500 rose 1.7% Monday on hopes that this time, the announcement of an Iran-U.S. agreement will mean a long-term fix to a conflict that has worsened inflation around the world. The Dow Jones Industrial Average climbed 0.9% to a record, and the Nasdaq composite jumped 3.1%. Brent crude’s price fell 4.8%, helping stocks of companies with big fuel bills to jump. AI stocks also rallied following their sharp swings over the last couple weeks.

Think you can ignore all the hubbub around SpaceX, Elon Musk and IPOs? Your 401(k) won’t. Musk’s rocket company launched 19.2% higher in the first day of trading for its stock Friday, making it worth a total of $2.1 trillion. Whether or not you believe it deserves to be worth more than Exxon Mobil, Bank of America and Coca-Cola combined, the collective market does. And by virtue of having that big a value, SpaceX will soon join some high-profile stock indexes. That matters for investors and their 401(k) accounts because they’re depending more than ever on funds that simply mimic these indexes.

Shares of SpaceX soared 19% in their Wall Street debut, making the rocket maker’s founder and CEO Elon Musk the first-ever trillionaire. The shares opened at $150 and finished Friday slightly below $161. That price gave the company a market value of around $2.1 trillion. Forbes estimates that Musk, who is also a major shareholder in Tesla, is now worth $1.1 trillion. Musk says SpaceX is going public because it needs money to fund its ambitions of putting satellites and data centers in space and eventually establishing a colony of people on Mars. The $75 billion in proceeds from the IPO tops the previous high of $26 billion for Saudi Aramco's IPO in 2019.

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday. Institutional and retail investors jumped at the opportunity to b…

U.S. stocks rallied to their best day in two months, and oil prices fell after President Donald Trump called off his threat to bomb Iran in the evening. That raised hopes Thursday for a potential deal to get the global flow of oil going again. The S&P 500 jumped 1.8%, coming off a back-to-back drop that had yanked it back to where it was in early May. The Dow Jones Industrial Average leaped 1.9%, and the Nasdaq composite rallied 2.5%. Strong gains for chip stocks helped offset a slide for Oracle. Treasury yields eased sharply in the bond market.

WASHINGTON (AP) — The economic fallout from the Iran war — higher energy prices and increased uncertainty — will drag down global growth this …

FRANKFURT, Germany (AP) — The European Central Bank on Thursday became the first major central bank to raise interest rates in response to the…

NEW YORK (AP) — When SpaceX makes its debut on the U.S. stock market, it wants smaller-pocketed, mom-and-pop investors to play a big role in w…

As you consider your options for short-term investments, keep three key items in mind.