U.S. futures rise as Wall Street weighs SpaceX debut

Highlights

Dow futures rose 0.1%, S&P 500 futures gained 0.2%, and Nasdaq 100 futures added 0.3%.
SpaceX began trading after pricing its IPO at $135 a share.
The company raised about $75 billion at a valuation near $1.77 trillion.

Futures tied to the Dow Jones Industrial Average rose 0.1%, S&P 500 futures advanced 0.2% and Nasdaq 100 futures gained 0.3%, according to Yahoo Finance. The move followed a stronger session on Thursday, when investors welcomed President Donald Trump’s decision to step back from a third round of strikes on Iran and his signal that a peace deal could be near.

SpaceX begins trading after record IPO

SpaceX began trading on Nasdaq under the ticker SPCX after pricing its initial public offering at $135 a share. The company raised about $75 billion by selling 555.6 million shares, giving it a valuation of roughly $1.75 trillion to $1.77 trillion and making it the largest IPO ever completed.

The debut immediately became a test of investor appetite for mega-cap technology and space-related assets. SpaceX entered the market with expectations already high, after strong demand from institutional and retail investors and weeks of speculation across pre-IPO and synthetic markets. A strong first session could support broader sentiment around high-growth names, while any disappointment would raise questions about whether investors have become too willing to pay steep prices for companies tied to artificial intelligence, satellites and Elon Musk’s wider business empire.

Iran relief helps steady risk appetite

The listing came as markets were also reassessing geopolitical risk. Earlier in the week, U.S. strikes on Iran and fears over the Strait of Hormuz had pushed investors toward a more defensive posture. By Thursday, sentiment improved after Trump backed away from planned additional strikes, helping fuel a market rally.

Oil prices eased from recent highs, reducing immediate inflation concerns. Still, the Middle East conflict remains a live risk for markets because any renewed threat to energy flows through Hormuz could quickly push fuel costs and bond yields higher.

Sentiment data adds another test

Investors are also watching the University of Michigan’s consumer sentiment reading. The index fell to 44.8 in May, its lowest level in the survey’s modern history, while inflation expectations remained elevated.

That data matters because the market rally depends on more than SpaceX’s first day as a public company. If households remain under pressure from energy prices and inflation, the Federal Reserve may have less room to ease policy. For now, futures suggest cautious optimism, but SpaceX’s trading debut and sentiment data will test whether that optimism can hold.

It was earlier reported that SpaceX raised a record $75 billion in IPO.

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