Stocks finished higher last week despite plenty of volatility. The VIX, often called the “Fear Gauge”, spiked higher back on June 5th, as the S&P 500 broke its consecutive weekly winning streak.

Last week, the S&P 500, Nasdaq, and Dow all gained about 0.7%, while small- and mid-cap stocks outperformed sharply, with the Russell 2000 up nearly 4%. The big headlines last week were inflation, geopolitics, and the highly anticipated SpaceX IPO. Inflation reports were mixed. The Consumer Price Index came in at expectations.

But it was the Producer Price Index, a leading indicator of potential inflation for consumers, which came in higher than expectation with a monthly increase of 1.1%. The combination of the inflation readings sustained the probabilities of a potential Fed Funds rate increase at the end of the year.

Friday’s SpaceX debut was the headline event last week. Initial shares were priced at $135, opened at $150, and closed nearly 20% above the IPO price . This marked the largest company to IPO in history. By the end of the day, the market cap of the company would place it as the 6th largest company in the S&P 500, if it were included in the list.

Finally, early-week tensions involving the U.S. and Iran pushed oil prices higher, but optimism about a potential agreement later in the week sent crude down roughly 7%. More positive news came out over the weekend as reports of a deal that included the reopening of the Strait of Hurmuz were announced Sunday.