U.S. stock markets jumped Friday,lifted by hope for U.S.-Iran peace deal and SpaceX's big splash on Nasdaq. Investors cheered better consumer sentiment and easing inflation views,pushing major indexes higher for week.
The S&P 500 edged up 0.5% to 7,430.86. Dow Jones climbed 0.7% to 51,202.29. Nasdaq Composite added 0.3%,closing at 25,888.84. These gains erased earlier losses,with S&P 500 up 0.6% overall,Nasdaq and Dow both rising 0.7%.
Driving this market buzz was SpaceX's splashy IPO,pricing shares at $135. aerospace giant raised $75 billion,largest IPO ever. Shares opened at $150,closed at $160.95 — up 19.2% from offer price. Valuation hit $2.11 trillion,putting SpaceX among most valuable global companies,boosting tech sector confidence.
Analysts believe SpaceX's IPO success could spur future public offerings from AI leaders like OpenAI and Anthropic. Could draw big investments into AI.
Investor mood also lifted by talk of a U.S.-Iran peace deal. President Trump hinted agreement might be near,possibly reopening Strait of Hormuz,key energy route. Despite mixed signals,comments from Iran and Pakistan,mediator,suggest talks progressing.
Prospect of easing tensions sent oil prices down,with Brent crude dropping nearly 4% to lowest since March. Lower energy prices eased inflation worries in markets.
Friday's economic data added to upbeat tone . University of Michigan said consumer sentiment index rose to 48.9 in June from 44.8 in May. One-year inflation expectations fell to 4.6% from 4.8%. Long-term ones slipped to 3.4% from 3.9%.
Traders eyeing Federal Reserve's policy moves. Though inflation above Fed target,softer forecasts and stable energy prices raise hopes Fed may pause rate hikes soon.
Meanwhile,Adobe shares dropped nearly 7% after CFO Dan Durn announced exit,with Steve Day stepping in as interim CFO . Follows news that CEO Shantanu Narayen plans to leave.
With tech stocks in demand,easing inflation worries,and hope on geopolitical front,Wall Street heads into new week with fresh momentum. But how long can it last…
