Stocks closed mixed yesterday with the Dow, small-cap Russell 2000, and mid-cap S&P 400 finishing in the green, while the tech-heavy Nasdaq and S&P 500 ended in the red.

But they all rebounded sharply from their intraday lows.

After a solid open, stocks lost ground shortly thereafter. And hit their worst levels midday.

Continued profit taking on tech and AI-related names weighed on the indexes.

So did reports that an Iranian drone downed a U.S. Apache helicopter near the Strait of Hormuz. Gladly, the two pilots were rescued and uninjured.

But President Trump said that the U.S. "must...respond to this attack."

That sent stocks to their worst levels of the day for fear that it would upend the peace negotiations.

But both sides appear to be committed to reaching a diplomatic solution rather than resuming all-out war. And that lifted stocks off their lows.

Later in the day, it was reported that the U.S. launched "self-defense strikes" at about 5:00 PM ET. The mission was reported to be "a proportional response to unjustified Iranian aggression."

Interestingly, earlier on Tuesday morning, President Trump said "we are close to a strong and powerful deal" and that it could be reached "in two or three days."

Those comments underscore the desire to reach a negotiated settlement.

In other news, yesterday's NFIB Small Business Optimism Index came in at 95.3 vs. last month's 95.9 and views for 96.0.

And Existing Home Sales rose to 4.17 million units (annualized) vs. last month's 4.04M and estimates for 4.08M.

Today we'll get MBA Mortgage Applications, and the Consumer Price Index (CPI) retail inflation report.

And then on Thursday, we'll get the Producer Price Index (PPI) wholesale inflation report.

As important as those inflation reports are, the main event this week will be Friday's SpaceX IPO.

Investors have been waiting on this for months. And it's finally here. The IPO is expected to raise up to $75 billion (almost 3x times the record set by Saudi Aramco's 2019 IPO), with an expected valuation of $1.75 to $2 trillion.

The global space economy is heating up, and SpaceX is at the center of it.

But interest in the IPO goes beyond SpaceX. Investors are fascinated by the empire of companies Mr. Musk is building (Tesla, Neuralink, X, Boring Co., xAI, Starlink, etc.), and how they might all tie together one day.

Given the buzz around what is likely to be the largest and most anticipated IPO of all time, we are broadcasting a live event covering the SpaceX IPO on Friday, June 12, at 11:00 AM ET.

Join our Zacks experts Tracey Ryniec and David Bartosiak as they cover all things SpaceX, including how it compares to other high-growth tech and aerospace companies, and the interconnectedness of Elon Musk's companies and what it could mean for investors. And, they'll be answering questions from fellow Zacks members.

Don't miss this live event, and be a part of history in the making as SpaceX makes its debut.

The SpaceX IPO Live Coverage begins on Friday, June 12, at 11:00 AM ET.

Best,