Crypto News: Ready for liftoff

Good morning. SpaceX is ready for blastoff on Wall Street. Knicks mania has fans spending freely in New York. And Steven Spielberg has high hopes for Disclosure Day. Listen to the day’s top stories.

— Angela Cullen

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S&P 500 Futures	7,423.25	+0.4%
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Bloomberg Dollar Spot Index	1,207.05	+0.0%
Market data as of 07:02 AM ET. Data is subject to provider delays.	Your watchlist

SpaceX looks ready for blastoff when it debuts on Nasdaq this morning, after raising $75 billion—putting Elon Musk within reach of becoming the world’s first trillionaire. Shadow markets are pricing in a jump of at least 35% at the open. Asian investors, largely shut out of the IPO, have come up with creative ways to try and capture some of the gains, including buying into the space supply chain, industry-themed ETFs, and Nasdaq 100 Index-tracking funds. For an indication of just how stratospheric the offering is, here’s how it compares, but there’s one metric where it falls short.

Magnificent 7 stocks are climbing in anticipation of SpaceX’s debut. Stock futures are also getting a boost from a potential US-Iran deal. A senior Iranian official indicated overnight that an agreement to reopen the Strait of Hormuz is likely, while a G7 official said it will likely take the form of a memorandum of understanding, rather than a final deal. Oil extended declines.

Water stops or money grab? The 2026 FIFA World Cup, with 48 teams and three host countries, is the largest ever, and the “Americanization” of the tournament promises huge advertising revenue. Fox is turning water breaks, introduced to matches for the first time, into ad breaks by cutting to commercials while players hydrate. Comcast’s Telemundo, which owns the Spanish-language US rights, is taking a different tack, though sponsors still get their airtime. But, despite its best efforts, soccer remains a tough sell in America’s crowded sports marketplace. Here’s why.

Gary Lineker Is Worried About the Trump World Cup

The former England star wants to talk about football on his new Netflix show, but says he’s also ready to call out the US president.

Wild weather. The US declared a power emergency in the southeast as forecasters warned of dangerous heat that’s likely to stress power grids. Chicago was placed under a tornado warning on Thursday night, and disruptions to air travel and power supply persisted after the storm moved through. As of 11 p.m. ET, 1,474 flights were canceled and nearly 600,000 homes and businesses were without power.

Deep Dive: Knicks Mania Erupts

Salaar Rabbani in line for the NikeNYC Knicks pop-up.

The New York Knicks’ breathtaking run through the NBA playoffs has become a cash machine for businesses all over town—and fans are spending freely.

Wednesday’s epic comeback at Madison Square Garden sparked euphoria from the Bronx to Brooklyn. Now, just one win away from their first NBA title since 1973, Game 5 in San Antonio on Saturday promises to be a thriller.
One unlikely winner is Skechers. When OG Anunoby soared to set up Wednesday’s historic victory, he wasn’t wearing Nike or Adidas. He was wearing Skechers, which only released its first line of technical basketball sneakers in 2023.
It would be an understatement to say the mood in NYC is electric. But it’s not all down to the Knicks. SpaceX’s IPO has also minted fresh wealth for a few Wall Street bankers (and their lawyers), giving the city another reason to celebrate.

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Who’s Really Paying for This Year’s World Cup?

Opinion

SpaceX facilities in Hawthorne, California, US, on Monday, April 13, 2026. SpaceX has filed confidentially for an initial public offering, according to people familiar with the matter, bringing billionaire Elon Musk's rocket, satellite and AI company closer to delivering the biggest-ever listing.

Investors who missed the AI rally or got bruised by betting on the wrong companies will now feel pressure to clamber aboard SpaceX, Lionel Laurent writes. But as checks and balances wither in the face of FOMO, the skeptics may still prove prophetic.

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Before You Go

Can Disclosure Day give Steven Spielberg the blockbuster comeback that’s eluded him since The Fabelmans and a West Side Story reboot bombed at the box office? The sci-fi movie revisits a genre that used to be a surefire bet for the legendary director, but it’ll need to sell $300 million in tickets globally to break even in cinemas.

A Couple More