Good Tuesday morning. Welcome to Spock on the Street. I'm Sarah Eisen with Carl Kintania and David Faber.

We are live as always from post nine of the New York Stock Exchange. Coming up this hour,

SpaceX is higher again, now rocketing past Amazon's market cap as the company makes deal news.

And as SpaceX options officially begin trading, we've got the latest for you in a moment.

Plus, Kevin Warsh's first Fed meeting as chairman gets underway today.

Former Fed Governor Stephen Myron just off the Fed joins us with some expectations

and how this meeting will differ from those during Jay Powell's tenure.

And do not miss an exclusive interview with Coinbase CEO Brian Armstrong around some new product news coming out today.

But first, guys, we're glued to this SpaceX chart, and I think it speaks to broadly what is uniquely the American market story right now, which is innovation, especially as President

Trump is there at G7 with some other European leaders, there's nothing like this going on

around the world.

And market strategists are writing about it. There's nothing like this going on around the world. And market strategists

are writing about it. There it is. There we go. It just happened as we speak. Cross Microsoft's

market cap. Two days and 31 minutes of trading. Not even because really day one, it barely

traded actually. Well, it didn't barely. It opened earlier than we thought it has a it's more highly valued than microsoft more highly valued than microsoft

Microsoft for its part is down a percent and you know it's been hit around fears i think around

AI and where it stands in the AI race itself and whether's a software company, so that has been, that is without a doubt. I mean, it's a stock that's down 17 and a half percent over the last 12 months. Yes. Yes. And now they're approximate market caps. But that is staggering to think of. Now, the company itself, of course, has been around for 25 years, but it's been a public company for a couple of days.

It also speaks to just what I'm highlighting here.

So this Tony Pascarello at Goldman Sachs, he puts out a trading note at the beginning of every week.

And this was the quote that really spoke to me, having just covered the SpaceX IPO.

He says, when I look back at the core story of the capital markets in the first

half of 2026, so much of what we're talking about these days is the residue of unbridled American

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