{"id":1783,"date":"2026-06-12T18:09:08","date_gmt":"2026-06-12T18:09:08","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1783"},"modified":"2026-06-12T18:09:08","modified_gmt":"2026-06-12T18:09:08","slug":"sp-500-dow-rise-on-mideast-deal-hopes-spacexs-historic-debut","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1783","title":{"rendered":"S&#038;P 500, Dow rise on Mideast deal hopes, SpaceX&#8217;s historic debut"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 12 (Reuters) &#8211; The benchmark S&amp;P 500 and the blue-chip Dow rose in choppy trading on Friday, aided by expectations for \u200can imminent end to the Middle East conflict, while SpaceX shares surged in their debut, making it Wall Street&#8217;s biggest public listing in history.<\/div>\n<div>Iran said that an &#8220;Islamabad Memorandum of Understanding&#8221; for addressing the conflict had &#8220;never been closer&#8221;, which aided risk sentiment broadly, a day after U.S. President Donald Trump said a deal was close.<\/div>\n<div>The spotlight was on SpaceX (SPCX.O)<svg><\/svg><span>, opens new tab<\/span>. Its shares rose 22% to $163, well above the IPO \u200bprice of $135 apiece, valuing the company at more than $2 trillion.<\/div>\n<div>SpaceX is now ranked among the biggest publicly listed U.S. companies.<\/div>\n<div>On the other hand, shares of \u200bTesla (TSLA.O)<svg><\/svg><span>, opens new tab<\/span>, Musk&#8217;s other company that also trades at a premium to its earnings, fell 2%.<\/div>\n<div>Only about 3% to 4% of SpaceX&#8217;s shares are \u2060expected to be available for trading, with a large allocation to retail investors.<\/div>\n<div>&#8220;The fact that the IPO opened and traded smoothly is important because the market was \u200bwatching this less as a pure SpaceX event and more as a test of whether investors could absorb very large AI\/space-linked supply without creating stress elsewhere,&#8221; said Chris Murphy, \u200bco-head of derivatives strategy at Susquehanna.<\/div>\n<div>IPOs of AI companies OpenAI and Anthropic are also highly anticipated later in the year.<\/div>\n<div>Shares of other space stocks, which have soared in the lead-up to the debut, eased on Friday. Rocket Lab (RKLB.O)<svg><\/svg><span>, opens new tab<\/span> fell 9.1%, Intuitive Machines (LUNR.O)<svg><\/svg><span>, opens new tab<\/span> and Planet Labs (PL.N)<svg><\/svg><span>, opens new tab<\/span> shed 13.4% and 10.2%, respectively, while funds holding shares of SpaceX such as Fundrise Innovation Fund (VCX.N)<svg><\/svg><span>, opens new tab<\/span> rose 3.3%.<\/div>\n<div>Nine of 11 \u200bmajor S&amp;P 500 sectors moved higher, with energy (.SPNY)<svg><\/svg><span>, opens new tab<\/span> leading gains. It rose 1.7%.<\/div>\n<div>Chip stocks were volatile, with Nvidia (NVDA.O)<svg><\/svg><span>, opens new tab<\/span> flat, while Advanced Micro Devices (AMD.O)<svg><\/svg><span>, opens new tab<\/span> added 5% after Citigroup raised \u200bits rating to &#8220;buy&#8221; from &#8220;neutral&#8221;. Megacaps such as Amazon.com (AMZN.O)<svg><\/svg><span>, opens new tab<\/span> and Apple (AAPL.O)<svg><\/svg><span>, opens new tab<\/span> slipped 2% and 1.4%, respectively.<\/div>\n<div>U.S. equity funds saw their first weekly outflow in three, and earlier this week the technology index (.SPRLCT)<svg><\/svg><span>, opens new tab<\/span> confirmed \u200ca correction. \u2060Analysts believe some of the weakness in U.S. stocks and bitcoin&#8217;s 16% fall last week could be due to traders trimming holdings ahead of SpaceX&#8217;s debut.<\/div>\n<div>At 12:15 p.m. ET, the Dow Jones Industrial Average (.DJI)<svg><\/svg><span>, opens new tab<\/span> rose 385.41 points, or 0.76%, to 51,234.16, the S&amp;P 500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> gained 37.70 points, or 0.51%, to 7,432.00 and the Nasdaq Composite (.IXIC)<svg><\/svg><span>, opens new tab<\/span> gained 71.59 points, or 0.27%, to 25,881.25.<\/div>\n<div>The three main U.S. stock indexes are set for small weekly gains, amid uncertainty surrounding the Iran conflict and concerns that a rally in AI stocks \u200bhas gone too far.<\/div>\n<div>SpaceX, which also includes \u200bStarlink and xAI, has already defied some \u2060Wall Street conventions. Index providers such as Nasdaq and FTSE Russell have tweaked their entry requirements for its inclusion, while the company also set its stock price at $135, even before the roadshow began, reflecting Musk&#8217;s sway over the IPO.<\/div>\n<div>Some analysts have, however, voiced \u200bcaution over the fundamentals of the company, which posted more than $4 billion in annual losses last year.<\/div>\n<div>On the macro front, \u200ba survey showed that consumer \u2060sentiment fared better than expected this month, while data earlier this week showed inflation pressures were mounting.<\/div>\n<div>However, following Trump&#8217;s remarks on Thursday, traders pushed their expectations for an interest rate hike by the Federal Reserve to December from October earlier this week, the CME Group&#8217;s FedWatch tool showed.<\/div>\n<div>Adobe (ADBE.O)<svg><\/svg><span>, opens new tab<\/span> slid 6.8% after the exit of CFO Dan Durn.<\/div>\n<div>Advancing issues outnumbered decliners by a \u20602.18-to-1 ratio \u200bon the NYSE, and by a 1.48-to-1 ratio on the Nasdaq.<\/div>\n<div>The S&amp;P 500 posted 35 new 52-week \u200bhighs and 10 new lows, while the Nasdaq Composite recorded 166 new highs and 73 new lows.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1782\">Iranian-American fans face uneasy World Cup as war rages<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1780\">Sam Bankman-Fried loses bid to overturn crypto fraud conviction<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1778\">Defence resignation exposes spending bind for Starmer \u2013 and any challengers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The benchmark S&#038;P 500 and the blue-chip Dow rose in choppy trading on Friday, aided by expectations for \u200can imminent end to the Middle East conflict, while SpaceX shares surged in their debut, making it Wall Street&#8217;s biggest public listing in history.<\/p>\n","protected":false},"author":1,"featured_media":1480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[112,41,54],"class_list":["post-1783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-capital-markets","tag-securities-enforcement","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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