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The Economic Times
The Economic Times
Business

Asian stocks rally on Gulf breakthrough hopes, oil hits two-month lows

Oil Elon Musk Gulf SpaceX Donald Trump United States Inflation Middle East IPO Iran

Asian stocks joined a global rally on Friday on hopes a Middle East peace deal may finally materialise, while the dollar and bond yields dropped and oil prices fell to two-month lows, tempering inflation fears.

All eyes are on the hotly-awaited market debut of Elon Musk's SpaceX, which has made history with the biggest-ever initial public offering. The IPO raised a record $75 billion, valuing the rocket and spacecraft manufacturer at $1.77 ‌trillion and making ⁠Musk the ⁠world's first trillionaire.

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