U.S. equities rise on geopolitical easing while SpaceX shares are set to begin trading after a strong pre-market indication.
The Dow Jones Industrial Average rose 0.5% and the S&P 500 climbed 0.2% in early trading Friday, driven by renewed hopes for a U.S.-Iran peace agreement. Investors shifted focus to geopolitical developments after a volatile week in global markets.
Prior to the session, futures indicated a modest rebound following two consecutive days of losses. The tech-heavy Nasdaq 100 also edged higher, though gains were tempered by mixed performance in semiconductor stocks. SpaceX’s highly anticipated IPO debut added to market sentiment, with shares indicated to open sharply above their offering price.
SpaceX, trading under the ticker SPCX, was indicated up nearly 27% ahead of its market debut. Meanwhile, other space-related equities retreated, with Rocket Lab announcing plans for Nasdaq 100 inclusion later this year.