Investors watch SpaceX IPO and AI offerings as US stocks poised for higher open

U.S. stocks are projected to open higher on Tuesday as lower oil prices and falling bond yields provide support, according to market commentary. The S&P 500 and Nasdaq are expected to regain ground after Friday's sharp decline.

Bloomberg reports that the SpaceX initial public offering is receiving strong institutional interest, with orders totaling about $10 billion. Institutional orders are slated to close after Wednesday, while retail investors may continue to place orders until the offering ends. SpaceX is scheduled to begin trading on Friday.

OpenAI has confidentially filed for an IPO, citing a post-money valuation of $852 million from its March funding round, suggesting a potential valuation in the trillion-dollar range. Anthropic, which filed its own IPO paperwork last week, secured a $35 billion debt facility from Apollo Global Management and Blackstone to fund AI growth and the purchase of Google-developed chips.

TD Cowen raised its price target for Alphabet to $475, noting expectations for higher margins in Google Cloud, though the company plans to sell $85 billion of stock. Amazon completed a $10 billion Canadian-dollar high-grade bond issuance, the largest corporate debt offering in that currency to date.

China is planning to invest $295 billion over five years to build AI data centers and interconnected digital hubs, aiming to enhance its computing capacity. UBS analysts expect Micron to exceed earnings and revenue guidance, maintaining a buy rating and a $1,625 price target ahead of its June 24 results.

Apple shares slipped after the company announced AI enhancements for Siri at its developers conference. Morgan Stanley increased its price target for Apple to $360. GSK disclosed a $10.6 billion acquisition of U.S. drugmaker Nuvalent, sending Nuvalent shares up nearly 39 %.