Alex Ossola

Today's show is produced by Danny Lewis and Anthony Bansi with supervising producer Tali Arbel.

I'm Alex Osola for The Wall Street Journal.

We'll be back with a new show tomorrow morning.

Thanks for listening.

SpaceX is now America's sixth most valuable company.

And that makes Elon Musk officially the world's first trillionaire.

Plus, it's a mystery vexing analyst.

How has China been able to stop importing millions of barrels of oil since the start of the Iran war?

It's Friday, June 12th.

I'm Alex Ocelev for The Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Today, SpaceX made its long-awaited stock market debut.

Shares opened trading at $150 around midday, 11% above the IPO price of $135.

And the rocket company's stock ended the day up 19% at $160.95.

Its market cap is $2.1 trillion, making it America's sixth most valuable company, just below Amazon.

CEO Elon Musk's other company, Tesla, is now number eight.

The IPO gripped Wall Street and transfixed investors worldwide.

And it was as near a picture-perfect debut as most bankers could imagine, with a pop that was neither too big nor too small.

Speaking from Starbase Texas this morning, Musk said that when he began SpaceX more than 20 years ago, he told people that the company was probably going to fail.

That record IPO also helped Musk become the world's first trillionaire.