U.S. stock futures traded slightly higher early Friday as investors turned their attention to SpaceX’s highly anticipated Nasdaq debut.
Futures linked to the S&P 500 gained around 0.2%, while Nasdaq 100 futures also rose 0.2%. Dow Jones Industrial Average futures added approximately 43 points, or 0.1%.
The positive sentiment followed a strong rally on Wall Street Thursday, driven by a rebound in semiconductor stocks and easing geopolitical concerns after President Donald Trump indicated that a peace agreement between the United States and Iran could be finalized soon. The S&P 500 advanced 1.75%, the Nasdaq Composite surged 2.54%, and the Dow Jones Industrial Average jumped nearly 930 points, or 1.86%.
Asian markets also posted strong gains on Friday. South Korea’s Kospi soared 7.01%, Japan’s Nikkei 225 climbed 3.4%, and Australia’s S&P/ASX 200 rose 1.54%.
Speaking from the Oval Office, Trump stated that negotiations with Iran were nearing completion, adding that the agreement should be finalized quickly and would ensure that Iran never obtains a nuclear weapon. Markets had already responded positively earlier in the session after Trump announced on Truth Social that planned U.S. strikes on Iran had been called off.
Investor attention now shifts to SpaceX, Elon Musk’s aerospace company, which is set to begin trading on the Nasdaq under the ticker symbol SPCX. The company has priced its IPO at $135 per share, giving it an estimated valuation of $1.77 trillion.
SpaceX plans to offer 555.6 million shares, raising approximately $75 billion in what would become the largest IPO in history. The offering would surpass Alibaba’s $22 billion IPO in 2014 by a wide margin.
Market participants are divided on the potential impact of the listing. While a successful debut could provide a fresh boost to equities, some investors worry that the enormous size of the offering could absorb market liquidity and create short-term pressure on stocks. Additionally, IPOs are often volatile, and SpaceX’s market debut could trigger shifts in investor positioning across the technology sector.
Thursday’s rally pushed both the S&P 500 and Nasdaq Composite back into positive territory for the week. The S&P 500 is currently on track for a weekly gain of 0.14%, while the Nasdaq is up 0.39%. The Dow remains slightly negative, down 0.04% for the week.
Investors will also monitor the preliminary June reading of the Michigan Consumer Sentiment Index, scheduled for release later Friday, for further clues on consumer confidence and the economic outlook.
