Starship hit orbit for the first time and deployed satellites, but an engine failure cut the flight short and the landing ended in a fireball — a mixed result that left investors unimpressed.

• Starship reached orbit and released 26 of the new, bigger Starlink satellites, a genuine first.
• An engine problem forced a return after one orbit instead of the six planned, and the vehicle blew apart on the water landing.
• That undercuts the whole reusability pitch — the same landing has to work on the moon.
• Tesla fell on the day, though stocks broadly were under pressure as bond yields rose.
• Golden Dome, Trump's missile-defense plan, is pulling Lockheed and the tech industry deeper into government money and closer to the politics that shields them from scrutiny.

Outlook: Expect more test flights and more government contracts, with pressure building over debris, missed timelines, and whether the landing system can ever be trusted with people.