
IPO surge, record oil output and earnings lift markets

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The IPO market is experiencing a resurgence, with filings up 10.7% year-over-year and proceeds increasing by 86%, highlighted by major listings from companies like SpaceX. Additionally, Petrobras achieved a record oil output of 2.73 million barrels per day in April, a 30% rise from its 2024 average. Furthermore, 84% of S&P 500 companies exceeded Q1 earnings estimates, with profits surpassing forecasts by 18.2%, marking the highest surprise rate in five years.

