US Stocks Swing Higher Ahead of SpaceX IPO

US stocks were mostly higher on a volatile Friday session on hopes of a deal between the US and Iran, as SpaceX IPO-ed at the largest offering on record. The S&P 500, Dow, and Nasdaq 100 were all higher following heavy swings during the session. AI infrastructure companies wavered following the SpaceX IPO, raising $75 billion for fresh expenditure on data centers and compute capacity. The AI-to-space company was over 15% higher than its listing of $135 per share moments after trading began. Chips producers gained with AMD, Qualcomm, and Sandisk up 5%. Hyperscalers were lower, with Microsoft, Amazon, Apple, and Oracle edging down. Meanwhile, the Iranian foreign ministry signaled a deal with the US has never been closer, driving energy prices to pull back following a series of mixed statements by President Trump. Financial companies gained as yields eased off session peaks, with Goldman Sachs and Blackstone adding over 3.5%.

US stocks swung higher on a choppy Friday, extending the rebound from yesterday on lingering hopes of a deal between the US and Iran, while markets awaited the SpaceX IPO. The S&P 500 and the Nasdaq 100 gained over 0.5% and the Dow jumped nearly 1%. The Iranian foreign ministry signaled a deal with the US has never been closer, driving energy prices to pull back following a series of mixed statements by President Trump. Financial companies gained as yields eased off session peaks, with Goldman Sachs and Blackstone adding over 3.5%. AI infrastructure companies wavered ahead of the SpaceX IPO, raising $75 billion for fresh expenditure on data centers and compute capacity. Reports indicated the stock was over four-fold oversubscribed, set to open around 20% over the IPO listing of $135 per share. Chips producers gained with AMD, Qualcomm, and Sandisk up 5%. Hyperscalers were lower, with Microsoft, Amazon, Apple, and Oracle down.

US stocks whipsawed before on Friday, loosely holding the rebound from yesterday on lingering hopes of a deal between the US and Iran, while markets awaited the SpaceX IPO. The S&P 500 and the Nasdaq 100 traded gains and blows, while the Dow edged higher. President Trump condemned reports of an Iran attack in Indian vessels near the Strait of Hormuz, but energy prices were still lower amid earlier signals that an agreement may be signed next week, paving the way for restored energy supply from the region and softer inflationary pressures. JPMorgan and Goldman Sachs were higher to support the financial sector. AI infrastructure companies wavered ahead of the SpaceX IPO, raising $75 billion for fresh expenditure on data centers and compute capacity. Reports indicated the stock was over four-fold oversubscribed. Chips producers gained with AMD, Qualcomm, and Sandisk up 5%. Hyperscalers were lower, with Microsoft, Amazon, Apple, and Oracle down around 2%.