Market snapshot · Aug. 12, 2026 close
The American FilingSection
Indexes, earnings and the trading day
U.S. initial public offerings and follow-on share sales raised more in the first six months of the year than in any comparable stretch on record, surpassing even the 2021 boom.
Shares priced at $135, opened at $150 and closed their first session at $160.95, valuing the rocket and satellite company well above $1.7 trillion in a deal that dwarfed every previous listing.
The S&P 500 energy sector has gained roughly 40% in 2026 as war-driven crude prices reset cash flows, with refiners and oilfield service companies outrunning the integrated giants.
The quantum computing company priced its offering at $60 a share after increasing the deal size, delivering one of the year's largest technology listings outside the AI infrastructure complex.
The chipmaker's latest results beat expectations again, but the more striking number is its share of the entire S&P 500's earnings growth — a level of dependence the index has not carried before.
The Russell 2000 trailed large caps by more than four percentage points early in the year, led the market in the second quarter, and remains hostage to floating-rate debt and the domestic consumer.
The S&P 500 fell 1.5% to 6,506.48 and the Russell 2000 dropped into correction territory as crude rose roughly 66% in little more than a week following the closure of the Strait of Hormuz.
Fourth-quarter deliveries dropped about 16% and full-year net income fell roughly 47%, leaving investors to value the company on an autonomy program that is still measured in hundreds of vehicles.