Jamie Dimon Pitches SpaceX IPO To 2,500 Wealthy JPMorgan Clients Thursday - Bank of America (NYSE:BAC), R

The SEC has eliminated the 25-year-old “pattern day trader” (PDT) designation and updated margin guidance, according to the article. FINRA’s prior $25,000 account-size and four-in-five-days PDT tracking requirements are removed; brokers must instead apply existing margin rules with a $2,000 minimum equity balance. The change could increase day-trading activity and benefit discount brokers such as Robinhood, Schwab, E*TRADE, and Interactive Brokers.

Robinhood posted a crypto teaser on X pointing to a “new era of crypto” presentation dated 7.1.26. The linked page, “The World is Flat,” features Robinhood CEO Vlad Tenev and references “products reshaping the map of finance.” The article ties the theme to Robinhood’s WonderFi acquisition, which the company said closed for about C$250 million (fully diluted) and gives it over 1 million customers outside the U.S.

After a stronger-than-expected U.S. payrolls report (172,000 vs 80,000 consensus) pushed the 10-year yield above 4.5% and shifted Fed expectations toward possible year-end hikes, several high-multiple digital stocks fell. Angi, Robinhood, and Sea each dropped about 3.8%–4.3%. For Robinhood, the article cites monthly platform assets up 12% to $345B and funded customers up to 27.6M, while Deutsche Bank kept a $86 “Buy” target.

S&P Global said SpaceX’s IPO must meet existing S&P index inclusion rules, including at least 12 months of trading on an eligible exchange and GAAP profitability in the latest quarter and prior four quarters. The IPO is oversubscribed, prompting Schwab to set margin and anti-“flipping” rules. Micron shares are expected to open down over 4% to $953.20 after a $1,089.29 peak.

Australia’s S&P/ASX 200 fell 0.7% to 8,625.10 on Friday, its lowest close since May 28, and logged its worst week in nearly a month. The index was down 1.2% for the week. The slide followed U.S.-Iran peace talks stalling amid U.S./Israel and Hezbollah ceasefire disputes, while resources and financials declined.

Bank of America shares rose 3.16% to about $54.05 on June 4, after closing Thursday at $54.17, as investors reacted to plans to launch cross-border real-time payments next quarter. The company said the service will use Swift and CashPro to speed international transfers, supporting transaction banking growth. Major bank peers also gained.