SpaceX IPO Live Updates: Elon Musk’s Company Surges in Market Debut as Dow, S&P 500 and Nasdaq Rise

SpaceX (SPCX) made a dramatic market debut on Friday, with shares jumping 19% to $160 on their first day of trading after opening at $150. The company priced its shares at $135, raising about $75 billion and implying a market value of $1.77 trillion. The launch marked a major milestone for the private aerospace and technology company, which has said it aims to place artificial intelligence data centers in space. Based on the paper valuation from the offering, CEO Elon Musk briefly became the world’s first trillionaire.

Broader U.S. markets also advanced as investors reacted to reports that the United States and Iran are moving closer to an interim peace agreement. The Dow Jones Industrial Average rose 0.7%, the S&P 500 gained 0.5%, and the Nasdaq Composite added 0.3%. The modest gains followed a stronger rally on Thursday, when Wall Street rose after President Trump withdrew threatened strikes on Iranian targets.

Geopolitical developments remained a key market focus as traders monitored signals that Washington and Tehran are nearing an arrangement that could reopen the Strait of Hormuz. The prospect of easing tensions helped pressure energy markets, with Brent crude futures falling more than 3% as oil prices extended recent losses.

At the same time, new U.S. consumer data suggested sentiment improved early in June. The University of Michigan said its consumer sentiment index rose to 48.9 at the start of the month, up from an all-time low of 44.8 in May. The report also showed one-year inflation expectations at 4.6%, below economists’ forecasts. The rebound in sentiment offered a modest sign of stabilization for households after months of weak confidence, though the reading remained historically depressed.

Overall, the session reflected a mix of enthusiasm for SpaceX’s landmark listing, optimism that Middle East tensions may be easing, and fresh economic data that pointed to improving consumer mood. Investors continued to balance gains in equities against falling oil prices and uncertainty over the pace and durability of any U.S.-Iran agreement.