Smart Investor: 2026’s Big Winners So Far, What’s Next for SpaceX, and Bond Outlook

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This week’s highlights:

• Weekly Market Update: Stocks Edge Higher as Basic Materials Rise and Communication Services Fall
• SpaceX Jumps 19% In Debut, but Hurdles Lie Ahead
• Did the Funds That Owned SpaceX Pre-IPO Clean Up?
• Why We Think the SpaceX IPO Is Overvalued
• Triple-Digit Club: A Wave of Stocks Have Seen Huge Gains in 2026
• Why This Top Bond Manager Says Yields, While Attractive, Could Still Go Higher
• May CPI Report: Energy-Driven Inflation Is Contained, for Now
• European Central Bank Raises Interest Rates and Lifts Inflation Forecasts
• What’s Happening in the Markets This Week

The big story of the week lived up to its billing, as SpaceX had the largest IPO in history on Friday, jumping nearly 20% from its starting price. Now the company must deliver results that live up to the market’s expectations. For his part, Morningstar equity analyst Nicolas Owens thinks the stock is approaching three-times overvalued.

The IPO was a winner for a handful of mutual funds that owned shares while SpaceX was still private. Jeff Ptak looks at which funds made a bundle for shareholders, and which ones merely did very well.

The SpaceX IPO comes against the backdrop of the big rally in tech and other growth names, one so strong that 42 stocks are posting returns north of 100% over the past year. Lauren Solberg has five charts on the current members of the triple-digit club.

While the headlines were dominated by SpaceX, there was other news for investors to digest. The latest Consumer Price Index report had some reassuring elements, despite overall inflation coming in hot thanks to the energy supply shock created by the Iran war. But economists say it is too soon to say the coast is clear. Find out why here.

Sonal Desai, global chief investment officer for fixed income for Franklin Templeton, thinks inflation will prove sticky. Leslie Norton spoke with Desai about her economic outlook and why she thinks bond yields, while attractive, could go still higher.

Against this backdrop, the coming week will bring the first Federal Reserve meeting with Kevin Warsh at the helm. While expectations are that the Fed will sit pat on interest rates, the European Central Bank isn’t taking any chances with inflation. You can read here why the ECB raised rates and what the outlook may hold.

As always, be sure to visit our Markets page for our latest coverage and live stock market updates, along with our full weekly calendar of key upcoming data and events.