June 5 (Reuters) - The public listing of SpaceX will

take centre stage as it looks likely to become one of the top 10

most valuable U.S. listed firms after it goes public, while a

rate hike from the European Central Bank on Thursday seems

nailed on.

Elsewhere, China releases a bunch of data and the OPEC+

group meets to decide its oil output quotas against the backdrop

of the Iran war. And the World Cup kicks off in Mexico on

Thursday.

Here's what you need to know about the coming week in

financial markets by Lewis Krauskopf in New York, Yoruk Bahceli,

Karin Strohecker and Ahmad Ghaddar in London and Gregor Stuart

Hunter in Singapore.

IP-OH!

Wall Street is bracing for the initial public offering of

Elon Musk's rocket and satellite company SpaceX - a seismic

market event that will likely be the first of several mega IPOs

in the coming months.

SpaceX's Nasdaq debut - expected on June 12 - is looming as

high-flying tech stocks have led a stunning rally for major U.S.

equity indexes. The company plans to raise a record-setting $75

billion and aim for a valuation of $1.75 trillion.

The listing is expected to be followed by debuts from AI

giants OpenAI and Anthropic, which on June 1 said it had

confidentially filed for a U.S. IPO.

The monthly U.S. consumer price index will also be in focus,

as investors grapple with inflation worries sparked by higher

energy prices. Oracle's earnings report will keep the

tech stock surge and the red-hot AI trade in the spotlight.

NIP IT IN THE BUD

The ECB is set to become the first among the biggest central

banks to hike rates since the Iran war.

With the memory of 2022's energy crisis still fresh,

Frankfurt is keen to not miss the boat this time.

Thursday's expected 25-basis-point rate hike is viewed as

"insurance" - signalling the ECB won't let inflation get

entrenched - rather than the start of a big hiking cycle.

It's not a post-pandemic economic boom like in 2022, so

policymakers have a tightrope to walk as they try to hike

without exacerbating the growth hit already underway from the

crisis.

That's why markets reckon the ECB will only hike rates two

or three times this year, with the next move most likely in

September.

THE MOST IMPORTANT OF THE LEAST IMPORTANT THINGS

The 2026 FIFA World Cup kicks off on Thursday. The world's

biggest sporting event will be co-hosted in Mexico, Canada and

the United States. Roughly 5 billion people tuned in last time -

with more teams and venues, expect an even bigger global binge.

It's a big revenue spinner for beverage companies such as

Molson Coors ( TAP/A ) or Heineken, European sports

apparel producers like Adidas, or U.S. tourism

and airline operators as fans travel, stock up

on beer and snap up merchandise.

The macro boost? Less dazzling - growth tends to be

short-lived and spending often just reshuffled, especially when

split across three large economies.

And for the office sweepstake: Goldman Sachs' prediction

model - based on Elo ratings devised for chess players - gives

Spain the edge at 26%, followed by France, Argentina and Brazil.

BUSINESS AS USUAL

OPEC+ ministers are expected to agree a July output target

hike on Sunday, sources said, as the group signals business as

usual despite the Iran war.

Oil prices have been volatile as investors await progress in

peace talks that could unlock the Strait of Hormuz. In May,

prices fell more than 19%, mainly on hopes of a deal.

Seven core OPEC+ members have lifted quotas by nearly

600,000 barrels per day (bpd) from April to June. Yet actual

output has slumped to 33.19 million bpd in April from 42.77

million in February.

July's quota is set to rise by about 188,000 bpd, in line

with June. The International Energy Agency has warned global

inventories could hit critical levels ahead of peak summer

demand.

CHINA HEALTH CHECK

China's economy has its monthly health check in the coming week,

with trade data for May due on Tuesday set to provide the latest

update on how Asia's biggest economy coped with the third month

of the Iran war.

On Wednesday, investors will get another read on price

trends, including whether consumer price inflation will remain

on the upward trajectory it has been in since October. A gauge

of producer prices will also draw attention, after turning

positive in March for the first time in almost four years.

Lending data for May is also due for release during the

week. April saw the weakest growth for two years in total social

financing, the broadest gauge of credit to the Chinese economy.

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(Graphics by Sumanta Sen, compiled by Samuel Indyk; Editing by

Amanda Cooper and Ros Russell)