[DigitalToday intern reporter Kyunmin Hong (홍경민)] Jim Cramer said the successful stock market debut of SpaceX could spur new listings by artificial intelligence (AI)-related companies and act as a catalyst for positive investor sentiment across the New York stock market.

On June 12, CNBC said Cramer assessed market trends by broadly analyzing major financial events including key macroeconomic data due this week, a regular Federal Reserve meeting and a Nasdaq 100 index rebalancing, with SpaceX’s IPO success at the center. He said the events could increase short-term volatility while strengthening risk-asset preference over the medium to long term.

SpaceX closed its first trading day on June 12 at $161 a share, giving it a market value of about $2.1 trillion. Based on that, the market is again highlighting the possibility that other big technology companies could raise funds.

Cramer said the likelihood has increased that AI startup Anthropic, which secretly filed an IPO application earlier this month, as well as Microsoft, Meta and Amazon could move to issue additional shares like Alphabet.

He also said a possible easing of geopolitical risks could be another upside factor for the market. If a peace agreement materialises in the Middle East, oil prices could fall and inflation pressures could ease, creating a more favourable environment for risk assets, he said.

Major economic indicators due this week are also seen as variables that could affect the Fed’s monetary policy direction. Housing starts on June 16 and retail sales on June 17 could strengthen signals of an economic slowdown. Cramer said that could support the case for rate cuts.

The Fed meeting set for June 17 and the first news conference by new Chair Kevin Warsh are expected to be the biggest turning point of the week. He said Warsh could formalise a rate-cut stance as underlying economic anxiety persists. Earnings released the same day were also seen as indicators, with Kroger pointing to pressure from cost burdens and Accenture offering a gauge of a slowdown in the traditional consulting business due to the spread of generative AI.

June 18 is the last trading day before the Nasdaq 100 rebalancing, and volatility is expected to increase due to portfolio adjustments. The adjustment adds Rocket Lab, Astera Labs, Teradyne, Nebius and CoreWeave, and removes Verisk, Cognizant, Insmed, Zscaler and Charter Communications. Analysts said large rebalancing trades by index-tracking funds could concentrate, increasing stock-specific volatility.

Overall, the period is seen as a test of both short-term volatility and the medium- to long-term direction as improving investor sentiment centred on the SpaceX listing, expectations of AI-focused capital shifts, Fed policy events and the Nasdaq rebalancing converge at the same time.