The ASX is set to fall after Wall Street pulled back from record highs as renewed fears over the Iran war hit risk appetite.Oil prices also climbed on fresh Middle East tensions.Meanwhile, all eyes are on SpaceX after it set a $US135-a-share IPO price for what could be the biggest float in history.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.PinnedKey EventThu 4 Jun 2026 at 7:38amThu 4 Jun 2026 at 7:38amMarket SnapshotBy Lin LinASX 200 futures: -0.9% to 8,734 pointsAustralian dollar: steady at 71.29 US centsWall Street: Dow Jones (-1.2%), S&P 500 (-0.7%), Nasdaq (-0.9%)Europe: FTSE (-0.4%)Gold: -1.2% to $US4,431/ounceSilver: -3.21% to $US72.70/ounceOil (Brent crude): +1% at $US97/barrelIron ore: -1.5% to $US103.65/tonneBitcoin: -2.2% to $US65,471 Prices current around 7.30 am AESTCollapse all postsFilter PostsAll4Key Events2Market snapshot1Economy2Thu 4 Jun 2026 at 8:15amThu 4 Jun 2026 at 8:15amAustralia’s slowdown may only just be startingBy Lin LinAustralia’s economy is still growing, but economists are warning the slowdown may have further to run.GDP rose just 0.3 per cent in the March quarter, while GDP per person went backwards for the first time since early 2025. The concern is that higher interest rates, cost-of-living pressure and the oil shock from the Iran war are still flowing through the economy.You can read more on this story by ABC's David Taylor, below.Key EventThu 4 Jun 2026 at 8:02amThu 4 Jun 2026 at 8:02amSpaceX eyes biggest IPO in historyBy Lin LinElon Musk's SpaceX is preparing for what could be the biggest share market float in history, after publicly setting a $US135-a-share price ahead of its planned Nasdaq listing.The rocket and satellite company is aiming to raise $US75 billion, which would be the most ever for an IPO according to Reuters.The deal would value SpaceX at about $US1.75 trillion, which would instantly put it among the 10 most valuable listed companies in the US.What is unusual is how SpaceX is doing it. Normally, companies and their bankers spend the roadshow testing demand from big investors before settling on a price. But SpaceX has named its price early, breaking with the usual Wall Street playbook.There are questions though about whether that valuation is too high. SpaceX's revenue rose 33 per cent last year to $US18.67 billion, but the company still posted a net loss of almost $US5 billion. Many analysts say it is hard to compare with other listed companies because it's a business which cuts across many areas: rockets, satellites, defence, telecoms and Starlink internet and so on.Here's a chart that shows how SpaceX's IPO is set to compare with others.How SpaceX compares with other US IPOsThu 4 Jun 2026 at 7:46amThu 4 Jun 2026 at 7:46amASX set to fall, RBA governor to front Senate estimatesBy Lin LinGood morning, and welcome to the ABC's finance blog.I'll be taking you through the latest market action this morning.The ASX is set for a weaker start this morning, after global markets lost ground.Wall Street pulled back from recent highs, with tech and financial stocks among the main drags, as renewed hostilities in the Middle East hit investor confidence. Oil prices also climbed, as hopes for a swift end to the Iran war faded again.Locally, there’ll certainly be a few things to watch. RBA governor Michele Bullock is due to appear before Senate estimates this afternoon, alongside two assistant governors Christopher Kent and Sarah Hunter.We will hear from deputy governor Andrew Hauser tomorrow as well.And we'll get fresh trade data at 11:30am AEST, which will give markets another read on demand for Australia's key exports.Anyway, sit back, grab a coffee or tea, and I'll be back with more updates shortly!