MEXICO CITY, MEXICO – JUNE 10: General view inside Mexico City Stadium on June 10, 2026 in Mexico City, Mexico City. (Photo by Karl Lesseen/Getty Images)
Carl Lecine | Getty Images Sports | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
US President Donald Trump has called for a “great reconciliation” to end the war with Iran. This is reportedly his 39th such promise.
This caused oil prices to still fall, but Wall Street rallied. Meanwhile, investors are keeping an eye on SpaceX’s historic market debut scheduled for Friday in the United States.
The soccer World Cup has begun, and so has the betting. May the strongest team win!
What you need to know today
With the 2026 World Cup underway, you might have watched the early morning game between Mexico and South Africa if your coworkers came to the office with more coffee than usual.
But while soccer’s biggest tournament gets underway, investors are unlikely to take their eyes off the more geopolitically and economically relevant story that is unfolding, namely the possibility of an eventual end to the Iran war.
On Thursday, President Trump announced that the United States had “just made a great settlement in the war with Iran” subject to “finalization of the document.”
Trump predicted the deal would be signed “in the next few days” from the Oval Office, repeating similar claims he has made many times during the war. In fact, this is reportedly the 39th time he has made the claim.
President Trump said the Strait of Hormuz, a critical oil shipping route that became a major choke point during the war, would reopen as soon as a deal was reached.
Frontline CEO Lars Barstad said if the two countries reach a “stable” agreement, oil tanker traffic through the Strait of Hormuz should significantly exceed the small volume of five to 10 vessels that currently pass through the strait each day.
Overnight, oil prices fell about 4% and the U.S. market rallied, with the Dow Jones Industrial Average rising more than 900 points.
Another ball the market is keeping an eye on is the historic debut of Elon Musk’s SpaceX, which is scheduled to go public on Friday. The company’s valuation is expected to be around $1.8 trillion.
But SpaceX is allocating a smaller portion of its blockbuster initial public offering to retail investors than expected, according to people familiar with the matter.
The company plans to offer a percentage in the low 20s to retail buyers, down from its initial expectations of about 30%. However, the official said the allocation decision was still subject to change.
Markets in Asia soared, with the Nikkei stock average rising 4% and South Korea’s Kospi soaring 7%.
Korea Exchange CEO Jeong Eun-bo told CNBC’s Lisa Kim that the recent drop in stocks by foreign investors is not due to a drop in confidence in South Korea, but simply a rebalancing of their portfolios due to the strong rise in the Korean market.
— Lim Huijie
And finally…
Wall Street sees one clear winner from World Cup gambling boom
The 2026 FIFA World Cup has begun and is expected to be the biggest betting event in history. Wall Street thinks there is one big winner.
Bernstein said in a report released Thursday that DraftKings appears to be the most obvious gambling beneficiary from the tournament.
“The company’s strength lies in its marketing rails. A multi-year partnership with NBCUniversal and exclusive rights to Telemundo’s Spanish language version make the DraftKings Spanish app a privileged funnel to the nation’s most engaged and soccer-obsessed bettors,” analyst Ian Moore wrote.
— Davis Giangiulio
Correction: This newsletter has been updated to reflect the Mexico vs. South Africa game played on Friday morning.
