The U.S. stocks moved modestly higher on Friday as investors weighed reports of a possible peace agreement between the United States and Iran while preparing for SpaceX's highly anticipated market debut.
The S&P 500 rose 0.2%, the Dow Jones Industrial Average gained nearly 200 points, and the Nasdaq Composite slipped slightly.
Trading sentiment was supported by reports that a draft U.S.-Iran agreement could include the lifting of American oil sanctions and the reopening of the Strait of Hormuz, according to Iranian state media. Bloomberg reported that a deal could be signed as early as Sunday.
However, markets remained cautious after President Donald Trump warned that Iran "better get their act together," raising uncertainty about negotiations. Oil prices eased but remained elevated.
Investors were also focused on SpaceX's Nasdaq debut. The company priced its shares at $135, valuing the firm at roughly $1.77 trillion and raising an estimated $75 billion. According to the report, it would become the largest IPO in history.
Analysts warned that the massive offering could increase market volatility, even as optimism surrounding artificial intelligence and technology stocks continues to support broader market sentiment.
Related Tweet:
#DowJones opens with slight gains as investors await #SpaceX debut and #Iran talks@AjjayVaishnav https://t.co/V6Subw7JJk
— CNBC-TV18 (@CNBCTV18Live) June 12, 2026
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