Monday's Final Takeaways: SPCX Back Above IPO Price & Rare Earths Rally

Markets ended the session with mixed-to-risk-on pockets despite a broadly red day. Oil prices rose more than 5% as investors weighed escalating geopolitical risk around Iran and the Strait of Hormuz, while U.S. strategic petroleum reserves fell below 300 million barrels for the first time since 1983, underscoring a tighter emergency supply buffer. SpaceX (SPCX) was a standout, closing back above its $135 IPO price at $138.74, up more than 4%, after stronger-than-expected sales and upgraded Citi forecasts. Rare earth and critical mineral stocks also rallied on fresh U.S. government support and investment announcements. The market also watched Chinese ADR strength, easing inflation data in China, and a busy upcoming earnings calendar, with Super Micro and CoreWeave highlighted as key names to watch. Overall sentiment was constructive for energy, SpaceX, and rare earths, while broader markets remained cautious ahead of Wednesday’s inflation data.