The Trump administration released a sweeping cache of government records and videos today that include colorful UFO-like orbs flying across the sky in seemingly impossible ways, Axios' Alex Isenstadt reports.

• The disclosure is part of a wave of releases aimed at shedding light on the government's probes into such sightings.

🕵️‍♂️ The documents indicate that government agents have spent years monitoring, investigating and documenting suspected unidentified anomalous phenomena (UAP) incidents — the modern term for UFOs.

Among the items:

• Videos showing orbs emitting red and yellow light, some of which appear to split apart and reattach as they fly across the sky.
• Memos from government agents describing their UAP sightings.
• An illustration of a grayish-white, balloon-like object hovering near Colorado Springs, Colorado.
• Another illustration depicting incidents that took place in the "western United States" where government officials reported UAP sightings in 2023.

👽 The new records don't indicate whether the government believes the UAPs represent the existence of alien life.

• Nor do they indicate conclusions regarding any national security threat.

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SpaceX shares were up over 25% in initial trading by midafternoon, launching it into the pantheon of the largest U.S. companies, Axios' Madison Mills reports.

• Shares were trading at about $170 this afternoon, indicating a $2.22 trillion market cap.

💰 The offering made CEO Elon Musk the world's first trillionaire, Forbes declared.

SpaceX went into its IPO trading at 90 times its sales (not profits — sales).

• Adam Johnson, portfolio manager of the Bullseye American Ingenuity Fund, says that suggests the company's valuation is divorced from its underlying fundamentals.

👀 What we're watching: What happens after the lock-up period ends.

• Once the company's next earnings report drops, early investors can sell up to 20% of their initial holdings to realize some gains.

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1. 🎨 David Hockney, a treasured British artist whose paintings of shimmering pools and colorful iPad drawings became icons of contemporary art, has died at 88. N.Y. Times obit (gift link).
2. 👩‍⚖️ A federal judge extended a block on the Trump administration's proposed $1.776 billion fund for people claiming they were victims of government weaponization. DOJ officials have said they're scrapping that plan, but President Trump hasn't confirmed that. Go deeper.
3. 🎸 Taylor Swift last night became the youngest woman ever inducted into the Songwriters Hall of Fame, at age 36. Go deeper.

🏗️ Workers were seen removing President Trump's name from the Kennedy Center this afternoon.

• A judge denied Trump's request to pause a ruling requiring his name to be pulled from the iconic venue.

The U.S. men's soccer team starts World Cup play tonight, facing Paraguay in Los Angeles (9 p.m. ET, Fox).

😰 These are nervy days for U.S. fans, Axios' Bob Gee writes.

• On paper, the American squad should have its best chance ever for a deep run.
• But fans worry the team hasn't lived up to its potential — and could flame out.

🙏 Fans are pinning their hopes on the return of center back Chris Richards, who was just cleared to resume training after an ankle injury.

• Strikers Folarin Balogun and Ricardo Pepi, new to the World Cup roster, could bring some much-needed firepower.
• Star forward Christian Pulisic is coming off a rough club season. He must play great for the U.S. team to advance.

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