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Trump Iran Threat Boosts Oil, SpaceX IPO Filed, Sam's Club Hikes Fees

President Trump's threat to attack Iran's oil infrastructure if no deal is reached in weeks caused oil prices to surge 8% and stock futures to fall. SpaceX confidentially filed for an IPO with a potential $1.75 trillion valuation, eyeing a June listing. Republican leaders in Congress backed a two-track plan to fund the Department of Homeland Security. Eli Lilly received FDA approval for its weight loss pill Foundayo, with prices from $25 to $349 monthly, and its CEO criticized White House drug pricing plans. Sam's Club increased annual membership fees to $60 and $120. U.S. markets are closed Friday for Good Friday.

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Trump Iran Threat Boosts Oil, SpaceX IPO Filed, Sam's Club Hikes Fees

President Trump's warning of military action against Iran has sent oil prices soaring and stock futures tumbling, while SpaceX's confidential IPO filing and other corporate developments headline Thursday's market news.

Trump's Address Rattles Investors

  • In a prime-time speech, President Donald Trump threatened to strike Iran's oil infrastructure if no deal is reached within two to three weeks.
  • Oil prices surged approximately 8% following the address, while U.S. stock futures declined.
  • The president blamed Iranian "terror attacks" for high energy prices but did not mention ground troops or negotiations.
  • Markets will be closed Friday for Good Friday, with CNBC airing a special "Squawk Box" for the March jobs report.

SpaceX Confidentially Files for IPO

  • SpaceX has submitted a confidential filing for an initial public offering, sources told CNBC.
  • The company, led by Elon Musk, is targeting a valuation up to $1.75 trillion with a potential listing in June.
  • If successful, Musk would helm two separate publicly traded trillion-dollar companies.
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Congress Supports DHS Funding Bypass

  • Republican congressional leaders endorsed a two-track plan to fund the Department of Homeland Security.
  • The approach revives a Senate proposal, providing funds for most agencies but delaying immigration enforcement debates.
  • TSA funding will be secured, possibly via executive order as previously indicated by Trump.

Eli Lilly's GLP-1 Pill Approved

  • The FDA approved Eli Lilly's once-daily GLP-1 weight loss pill, Foundayo.
  • Pricing ranges from $25 monthly with insurance coupons to $349 without coverage.
  • CEO Dave Ricks opposed the White House's "most favored nation" drug pricing policy, citing concerns over future medication development.

Sam's Club Increases Membership Costs

  • Sam's Club raised its annual membership fees to $60 for basic and $120 for premium tiers, up $10 each.
  • The hike, first since 2022, still keeps it cheaper than Costco.
  • The company cited enhanced perks like extended hours and better delivery options.
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