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There was a flirtation in the air while the businessman tried to convince the royal to grace the cover of his new magazine.

There was a flirtation in the air while the businessman tried to convince the royal to grace the cover of his new magazine.

Federal regulators are moving to allow most sports betting while barring wagers on war and other controversial topics on prediction markets like Kalshi and Polymarket.

Masked demonstrators smashed windows and kicked down doors while yelling they were “getting the foreigners out.” Emergency responders swarmed the city after people smashed doors and set fire to several homes, displacing longtime residents and filling the air with thick black smoke, BBC reported. The violent anti-immigration protests were sparked after a shocking beheading attempt...

RXR is looking to sell this Park Avenue property more than two years after defaulting on a loan tied to it.

In 2026, audience is an avenue to ownership — and every major industry, from entertainment, to tech, to venture capital, is poised for disruption.

Swift last attended an NBA game in May with fiancé Travis Kelce, who wore a Cleveland Cavaliers cap as the Ohio-based team played the Knicks.

Swift last attended an NBA game in May with fiancé Travis Kelce, who wore a Cleveland Cavaliers cap as the Ohio-based team played the Knicks.

If you're looking to spend the summer at a gorgeous Lake house, but don't actually have access to one, living vicariously through the characters of Prime Video's new romance show Every Year After, is the next best thing.

Dalton Rushing's reputation for playing old school baseball added another chapter Tuesday night in Pittsburgh.

The frightening incident unfolded around 7:30 p.m. Tuesday near Treasure Island Beach, where the Marine Safety Department was called after reports of multiple swimmers in distress.

As the summer heats up, California residents should remember: Newsom’s priorities have left them more vulnerable than ever.

It was not the rolling stone they thought it was.

Witnesses said they saw smoke billowing from the crash site, and several ambulances were seen transporting the victims.

The IPO Boom: Where Will The Money Come From?

Authored by Michael Lebowitz via RealInvestmentAdvice.com,

The media hype surrounding SpaceX’s upcoming mid-June initial public offering (IPO) is immense. The company recently filed its S-1 with the SEC, targeting a valuation of $1.75 trillion and a capital raise of up to $75 billion. Some believe its valuation could rise to $2 trillion after the IPO. In its wake, Anthropic (Claude) and OpenAI (ChatGPT) confidentially submitted IPO registration statements to the SEC. Expectations are that both AI model companies will enter the market within the next 3 to 6 months, with rumored valuations approaching or exceeding $1 trillion each. Stripe, the quickly growing payments company, is rumored to be on the IPO docket as well, with a valuation that could exceed $150 billion. Consequently, the coming IPO boom will have wide-reaching impacts.

The IPO market, which has been stagnant for the last four years, is bubbling with excitement. The headlines surrounding the IPOs are hyperbolic, banker fees are enormous, and social media is teeming with bullish sentiment on how high the new shares may trade after going public.

While IPO boom talk is great for clickbait, nobody is asking the most important question. Where will the money come from?

Putting Context To The IPO Boom

To understand the size of the coming IPO boom, some historical context is necessary. Prior to the pandemic, the US IPO market raised approximately $30 billion per year. In late 2020 and throughout 2021, the SPAC boom led to a surge in IPO offerings. Since then, however, as we share below, IPO issuance has been relatively lean.

The 2026 pipeline is shaping up to be the second-largest in at least the last ten years. SpaceX alone is raising up to $75 billion per its SEC filing. Add OpenAI’s expected cash raise of $60 billion, Anthropic at $15 to $20 billion, and Stripe around $10 billion, and the pipeline of known IPOs coming to market is approximately $160-$165 billion. Moreover, the total market valuation of these deals could surpass $4 trillion. Assuming no other deals come onto the market, the four deals would be larger than the last four years’ worth of deals combined.  

Dilution vs. Capital Absorption

Some pundits are using the word “dilution” to describe the impact of the IPOs on the market. While not necessarily misused, the term is most often used to describe what happens when a publicly traded company issues new shares in the market, diluting the value of existing shares. Simply, existing shareholders who do not buy new shares see their ownership percentage decline.

Given that the expected stock offerings are IPOs rather than add-on offerings by a publicly traded company, the term “dilution” is not appropriate to describe the upcoming offerings. The more accurate term is capital absorption.

Capital absorption is the process by which large new stock offerings pull money out of existing financial markets, as investors sell existing holdings or redirect cash to purchase newly issued shares. While it is true that someone must buy the shares being sold to fund an IPO purchase, that buyer, in most cases, is simply recycling existing market capital rather than introducing new money. Thus, while an IPO is not dilutive to the stock being offered, it is dilutive to the financial markets, as the total investible dollars, in theory, remain unchanged; they just get spread out a little more thinly.

Where Does IPO Capital Come From?

IPO capital comes from three primary sources, each with consequences for existing market participants.

The first is institutional rebalancing. A large asset manager running an equity portfolio that wants meaningful exposure to a new IPO must trim existing positions and potentially use existing cash or raise new funds to create room for the new holding. While selling by any manager is unlikely to create a ripple in the market, because the stocks, bonds, and other assets they sell vary widely, simultaneous selling across thousands of institutional portfolios can have an impact.

The second is retail liquidation. Similarly, individual investors who want to participate in an IPO need cash to do so. Some of that cash may come from savings, but like most institutional accounts, they will raise cash by selling existing equity holdings. Keep in mind that every retail investor who liquidates an S&P 500 index fund to buy SpaceX or another IPO is, de facto, a seller of all of the stocks in the index.

The third source is capital from sovereign wealth funds, pension funds, and foreign institutional investors, who are expanding their equity holdings. Often, their funds represent new money entering the financial markets rather than a rotation within them. The participation of these funds might reduce the impact of IPOs on other stocks and financial assets.  

The net effect of all three sources is that existing holdings largely fund new ones. At the scale being contemplated in 2026, that rotation is large enough to create a meaningful headwind across financial markets.

Index Inclusion Impacts

The direct capital absorption from the IPOs themselves is significant, but it may not be the largest structural effect. The more consequential impact comes from index inclusion.

Passive index funds and other passive strategies do not choose their holdings. When a stock is added to the index they track, they must buy it in proportion to its weight in the index. Typically, this is a minor event, as most IPOs are small enough that inclusion is minimal. The 2026 IPOs are different.

Consider the top ten S&P 500 holdings shown in the table below. SpaceX at $1.75 trillion, combined with Anthropic and OpenAI at roughly $1 trillion each, represents approximately $3.75 trillion in total market weight. That is nearly equal to Apple’s entire market capitalization, the second-largest stock in the index. An S&P 500 index fund adding all three IPOs would need to proportionally reduce the weight of every other holding in the portfolio to make room for those additions.

Fortunately, the impact will happen in waves over time. SpaceX’s inclusion will trigger the first wave of forced rebalancing. Anthropic and OpenAI, expected to follow within months, each trigger their own.

Index Inclusion Timing

The impact of index inclusion, as discussed above, depends heavily on timing, and the timeline is accelerating in ways that are concerning for existing index investors.

Index providers have a financial incentive to include these large companies quickly. The more assets that track their indexes, the more licensing revenue they generate. An index that excludes the most valuable and talked-about companies in the market risks losing relevance and assets to competing benchmarks. That incentive is resulting in a significant rewriting of the rules by the indexing companies.

Nasdaq reacted first. In early May 2026, it revised its methodology to allow any newly listed company with a market cap in the top 40 to enter the Nasdaq 100 after just 15 trading days, eliminating the minimum float requirement entirely. Under those rules, SpaceX could be a Nasdaq 100 constituent before most investors have had time to assess its first earnings report.

The S&P 500 is moving more slowly but in the same direction. S&P Dow Jones Indices has proposed cutting the seasoning window from 12 months to 6 and waiving the four-quarter profitability requirement for companies above a certain market-cap threshold. Even under that accelerated timeline, a mid-June SpaceX IPO would not reach S&P 500 eligibility until around December 2026. Thus, the largest wave of forced passive buying may still be months away.

The market impacts begin at the IPO and may be felt for many months after.

Summary

Think of the stock market as a jar full of marbles. For the new SpaceX and other marbles to fit in the jar, either the jar must be enlarged, or some of the other marbles must shrink. 

Given the current monetary environment, the jar, or available capital, is unlikely to grow significantly. The Fed is no longer providing the flood of liquidity that enabled the easy digestion of the SPAC boom in 2020 and 2021. Rates are higher, savings rates are lower, and the equity market is already trading at elevated valuations. Simply put, there isn’t much extra liquidity.  Thus, the other option is for the collective market cap of everything else to decline.

In reality, there will be some shrinkage of marbles and an enlargement of the jar. The extent of both will help determine how the IPO boom is received and its impact on other stocks. 

Tyler Durden Wed, 06/10/2026 - 12:40

Brandon Aiyuk appears determined to keep pouring gasoline on his standoff with the San Francisco 49ers.

Weiss has reportedly been ensconced in a secured sixth-floor office suite at the CBS Broadcast Center in Manhattan's Hell's Kitchen neighborhood.

“Their sudden loss has left their families and friends in shock, struggling to find the words and strength to move forward."

Number Of US Home Sellers Hits Highest Level In 6 Years In May: Report

Authored by Rob Sabo via The Epoch Times,

Homebuyers held more leverage over sellers in May, with sellers outpacing prospective buyers in 35 of the nation’s 50 most populous metropolitan markets, according to a June 9 report from real estate brokerage Redfin.

The number of sellers reached its highest level since 2020.

Home sellers outnumbered buyers by nearly 47 percent for the month, up slightly from 46.4 percent in April, but retreating slightly from the peak of 49.5 percent in December 2025, Redfin researchers said.

The numbers are in stark contrast to 2021, when there were 36.4 percent fewer sellers than buyers as mortgage rates under 3 percent sparked a buying frenzy.

A typical buyer’s market has 10 percent more sellers than buyers, which gives prospective buyers greater negotiating power since there are an abundance of homes from which to choose. 

“While the gap between homebuyers and sellers has narrowed slightly since the end of last year, house hunters still have far more negotiating power and less pressure to make rushed decisions,” Redfin senior economist Asad Khan said.

“Buyers in most of the country can be selective and ask for concessions, while sellers still need to price competitively to stand out.”

There were more than 1.48 million sellers in May, up by 0.4 percent from the previous month and the highest number of home listings since 2020, Redfin noted. On the other side of the equation, just 1.01 million buyers were looking for new residences.

Sellers entered the market in greater numbers in April in part due to a slight easing in mortgage rates, but buying demand compressed in May as mortgage rates crept higher, Redfin noted. The average 30-year fixed-rate mortgage for the week ending June 4 was 6.48 percent, Freddie Mac reported. At the end of May, however, that rate hit a year-high at 6.53 percent. 

Existing home sales increased by 3.2 percent in May, while total for-sale inventory ticked up by 3.2 percent, the National Association of Realtors reported. Homebuying may be slightly slower through the final two quarters of the year, however, as interest rates are expected to remain unchanged until the summer of 2027, Goldman Sachs researchers said. Elevated mortgage rates reduce homeowner affordability.

Multiple Sun Belt metros lead the nation in seller imbalance. The strongest buyers’ market was Nashville, Tennessee, which had 17,494 hopeful sellers versus 7,614 prospective buyers, an imbalance of 129.8 percent.

Miami, Florida, had 122.3 percent more sellers than buyers (19,426 to 8,740), followed by three Texas cities: Austin at 116 percent (18,281 to 8,462), Houston at 110.8 percent (45,968 to 21,809), and San Antonio at 107.5 percent (19,552 to 9,423).

Buyers outnumbered sellers in a handful of markets, creating more favorable conditions for purchasers, Redfin stated. Nassau County, New York, had 38.3 percent more buyers than sellers, Milwaukee had 29.1 percent, and Montgomery County, Pennsylvania, had 24.9 percent. Sellers in those markets can benefit from higher sale prices, multiple bids, fewer concessions, and reduced time on market, according to Freddie Mac.

Tyler Durden Wed, 06/10/2026 - 12:00

Travis Kelce and Taylor Swift reportedly have paid about $3 million to rent out Madison Square Garden for their three-day wedding celebration.