The market really showed some spring in its step Thursday. Starting in the red, traders started buying right after the sure-to-come bombings tonight in Iran changed into sure-to-come signing of ceasefire agreements.

Around 1:30 p.m. ET the President truthed a post that strikes were off, and a league of Gulf states (Iran was not on the list) had agreed on terms of a fresh ceasefire. Though the U.S. has already ‘been’ in a ceasefire, it was enough for oil to sell off 3%, and the market came roaring back.

Honestly, it felt like a sigh of ‘thank god that is out of the way,’ so we can all grab popcorn and watch the SpaceX IPO. We too, at Stocktwits, were washed away in the insane, close to $2T valuation leviathan rocking the shores of the markets as it prepares to splash down, right in Times Square, listing on the Nasdaq sometime Friday.

Watch for a special, state-of-the-art morning edition of the Daily Rip tomorrow, as I attempt to reach full coverage of the SpaceX IPO. Other events occurred today, also, and here they are:

Adobe, the creative software giant behind Photoshop, Acrobat, and Creative Cloud, beat estimates and raised guidance after the bell. The stock still got smacked because Wall Street is treating every software print like an AI survival test.

The RIP: $ADBE ( ▼ 6.25% ) fell 5.8% after hours after dropping 6.2% in the regular session. Adjusted EPS was $5.96 vs. $5.82 expected, revenue was $6.62B vs. $6.45B, and full-year revenue guidance rose to $26.50B-$26.60B.

The problem was not the quarter. It was the narrative. Adobe is still profitable, still growing, and still buying back stock, but investors are focused on whether AI turns its creative suite into a stronger moat or slowly eats the software bundle from underneath. The CFO exit only made the leadership question louder.

Community is bullish, message volume is normal across ~49k watchers.

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SpaceX’s IPO became the market’s gravity well Thursday, pulling public space proxies into the chase as traders hunted anything with a launchpad attached. Thursday night, SpaceX finally priced its monster IPO, confirming 555,555,555 Class A shares at $135 each, raising roughly $75B before underwriters kick in.

The RIP: $RDW ripped +20%, $ASTS jumped +16%, $NASA surged +15%, $SATS climbed +13%, and $RKLB popped +12%. $SPACZZX.P was extremely bullish on Stocktwits, with extremely high message volume.

The clean read is that SpaceX turned into a liquidity event before it even traded. $RKLB is the pure-play launch proxy, $SATS is the spectrum and Starlink-adjacent angle, and $RDW is the high-beta frenzy leg, even with its $500M ATM still hanging over the tape.

Community is bearish, message volume is low across ~60k Watchers.

Tell $RKLB: rerating or chase →

Oracle stayed stuck in the penalty box after earnings because investors decided the AI backlog was only half the story. The other half was the cost of building enough cloud capacity to serve it.

The RIP: $ORCL fell -8.5% in the regular session. Fiscal Q4 EPS was $2.11 vs. $2.00 expected, revenue was $19.18B vs. $19.48B expected, and RPO reached $638B.

This is the AI trade’s biggest question in one ticker: demand is real, but financing it is not free. Bring it to $ORCL: backlog or bill →

President Trump yanked planned Iran strikes off the table Thursday afternoon, saying a deal could be signed within days after earlier threatening to hit Iran “VERY HARD.” Oil plunged, stocks ripped, and traders went from pricing supply shock to pricing another geopolitical head fake.

The RIP: $CL_F ( 0.0% ) fell -3.95% and dropped below $90 a barrel. $USO ( ▼ 4.07% ) slid -4.0%, $XLE dropped -1.9%, and energy was the worst sector. $XLK rose +3.7%, $XLI gained +3.2%, and $XLB climbed +3.3%.

“We just made a great settlement of the war with Iran,” President Donald Trump told reporters Thursday.

Trump went from threatening strikes and oil infrastructure seizure to talking settlement in a matter of hours, while Iran had not clearly confirmed the agreement and the U.S. blockade remained in place.

That makes oil the market’s mood ring: $USO is the clean crude proxy, $XLE carries the energy-stock read, $UAL and $DAL benefit if fuel pressure fades, and $FSLR or $GNRC can lose heat if the energy panic cools. If crude stays below $90, inflation anxiety gets some relief. If Hormuz headlines flip again, the war premium comes roaring back. 🛢️

“$USO Nothing makes sense anymore,” @Iheartlng said on Stocktwits Thursday.

The biggest movers on and off Stocktwits were semis and space ripping while software took the pain. Space-adjacent names are riding the SpaceX IPO wave, while $ORCL and $ADBE are the clean downside stories. ⚡ = top trending name on ST tonight.

😨 SPACE EXPLORATION TECHNOLOGIES CORP (SPCX)

🏠 US producer prices spike in May as soaring energy prices fuel largest yearly jump since 2022

💰 CPU market to grow 5x by 2030, BofA says

📺 SMCI Stock Rebounds Overnight After Worst Drop In 3 Months: Retail Traders Question $39B Orders

👀 ORCL Stock Tumbles 10% Despite Earnings Beat, But Wall Street Recommends 'Aggressive' Buying On Selloff

Macro: University of Michigan Consumer Sentiment Index (preliminary) (10:00 AM ET). 📊

After-Market Earnings: $GLBS Globus Maritime Ltd. 🌙

P.S. You can listen to all of these earnings calls on Stocktwits.

Want to see some change? Email Kevin Travers feedback, follow him on Stocktwits. Refer a friend for this quarter’s edition of The RIP Forecast!

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