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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.

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Treasury Secretary Scott Bessent attends a meeting with members of the Association of Mature American Citizens (AMAC), about financial literacy, Wednesday, April 29, 2026, at the Treasury Department, in Washington. (AP Photo/Jacquelyn Martin)