{"id":63314,"date":"2026-06-17T10:08:17","date_gmt":"2026-06-17T14:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-shares-retreat-from-highs-as-global-markets-eye-iran-peace-accord\/63314\/"},"modified":"2026-06-17T10:08:17","modified_gmt":"2026-06-17T14:08:17","slug":"spacex-shares-retreat-from-highs-as-global-markets-eye-iran-peace-accord","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-shares-retreat-from-highs-as-global-markets-eye-iran-peace-accord\/63314\/","title":{"rendered":"SpaceX Shares Retreat from Highs as Global Markets Eye Iran Peace Accord"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) shares turned negative<\/strong> on Wednesday, erasing an intraday gain of <strong>6%<\/strong> as analysts warned of significant overvaluation following its record-breaking IPO.<\/li>\n<li><strong>The Strait of Hormuz threat level was downgraded<\/strong> to &quot;Substantial&quot; from &quot;Severe&quot; by the Joint Maritime Information Centre (JMIC) as a landmark <strong>U.S.-Iran peace memorandum<\/strong> nears its official signing on Friday.<\/li>\n<li><strong>S&amp;P Global affirmed Kohl&#39;s Corp. (<a href=\"\/stock\/KSS\">KSS<\/a>) &#39;B+&#39; rating<\/strong> and revised its outlook to <strong>Stable from Negative<\/strong>, citing stabilizing performance and improved inventory health.<\/li>\n<li><strong>Italy&#39;s Defence Minister confirmed the country will not join the U.S. PURL program<\/strong> to supply weapons to Ukraine, maintaining a firm stance despite ongoing G7 discussions.<\/li>\n<li><strong>Market focus is shifting to high-stakes corporate events<\/strong>, including upcoming shareholder meetings for Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) and a critical earnings report from Micron (<a href=\"\/stock\/MU\">MU<\/a>).<\/li>\n<\/ul>\n<h2>SpaceX Volatility Follows Record-Breaking Debut<\/h2>\n<p>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) shares experienced a sharp reversal on Wednesday, <strong>erasing a 6% gain<\/strong> to trade in negative territory. The volatility comes just days after the company\u2019s historic IPO, which saw its market capitalization briefly exceed <strong>$2 trillion<\/strong>, making Elon Musk the world\u2019s first trillionaire on paper.<\/p>\n<p>Analysts at <em>Morningstar<\/em> have issued a cautionary note, suggesting the stock is <strong>&quot;significantly overvalued&quot;<\/strong> with a fair value estimate of <strong>$63 per share<\/strong>, roughly 70% below current trading levels. Investors are also bracing for potential supply pressure as nearly <strong>2 billion shares<\/strong> are set to become eligible for sale within the next 90 days under a staggered lockup schedule.<\/p>\n<h2>U.S.-Iran Peace Deal Reopens Global Energy Arteries<\/h2>\n<p>The maritime security environment in the Middle East has improved significantly following the announcement of a <strong>Memorandum of Understanding (MoU)<\/strong> between the U.S. and Iran. The <strong>Strait of Hormuz<\/strong>, a vital corridor for 20% of the world&#39;s oil supply, saw its threat level downgraded as the <strong>U.S. Navy blockade<\/strong> began to loosen.<\/p>\n<p>Iranian Foreign Minister <strong>Seyed Abbas Araghchi<\/strong> discussed the agreement with Chinese and Russian counterparts on Wednesday, highlighting plans for a <strong>$300 billion rehabilitation fund<\/strong> for Iran&#39;s economy. While President Trump has dismissed the specific dollar amount as a &quot;rumor,&quot; the deal allows Iran to <strong>immediately resume oil and fuel sales<\/strong>, provided it adheres to strict nuclear and maritime navigation terms.<\/p>\n<h2>Retail and Tech: Kohl\u2019s Stabilizes, NVDA in Focus<\/h2>\n<p>Kohl&#39;s Corp. (<a href=\"\/stock\/KSS\">KSS<\/a>) received a credit boost as <strong>S&amp;P Global revised its outlook to Stable<\/strong>, noting that the retailer&#39;s performance has leveled off. The company recently reported first-quarter earnings that beat expectations, with <strong>inventory falling 8% year-over-year<\/strong> and proprietary brands showing 6% growth.<\/p>\n<p>In the technology sector, investors are looking past recent headlines toward a series of <strong>&quot;forward-looking corporate events.&quot;<\/strong> Critical dates include the <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) Annual Meeting of Stockholders on June 24<\/strong>, a Qualcomm (<a href=\"\/stock\/QCOM\">QCOM<\/a>) Investor Day, and a highly anticipated earnings report from Micron (<a href=\"\/stock\/MU\">MU<\/a>). These events are expected to provide the next major catalysts for the semiconductor and AI-driven market segments.<\/p>\n<h2>Italy Maintains Distance from U.S. Ukraine Program<\/h2>\n<p>Italy\u2019s Defence Minister <strong>Guido Crosetto<\/strong> reaffirmed to parliament on Wednesday that Italy will not participate in the <strong>Prioritised Ukraine Requirements List (PURL)<\/strong>. The U.S.-led initiative is designed to allow European nations to finance American-made weapons for Kyiv.<\/p>\n<p>Despite the refusal to join PURL, Italy continues to support Ukraine through bilateral aid packages. The decision highlights a strategic preference for <strong>direct military assistance<\/strong> over the U.S.-coordinated procurement framework, even as other NATO allies increase their participation in the program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SpaceX (SPCX) shares turned negative on Wednesday, erasing an intraday gain of 6% as analysts warned of significant 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