U.S. stocks opened higher Friday, June 12, 2026, as the largest stock offering in history and rising hopes for peace in the Middle East drew buyers into the market. President Donald Trump told reporters that a deal to end the war with Iran could be signed within days, one that would reopen the Strait of Hormuz and restore energy shipping through the Gulf. At the same time, SpaceX began its first day as a public company on the Nasdaq under the ticker SPCX, completing the biggest initial public offering ever recorded, according to the company’s S-1/A registration statement filed with the Securities and Exchange Commission.

In early trading, the Dow Jones Industrial Average rose 298 points, or 0.6%, while the S&P 500 added 0.1% and the Nasdaq Composite slipped 0.1%, held back by a steep drop in Adobe.

The move extended Thursday’s rally, when the Dow gained 1.86% to close at 50,848.75, the S&P 500 rose 1.75% to 7,394.30, and the Nasdaq Composite climbed 2.54% to 25,809.66.

SpaceX Takes Center Stage

The day’s centerpiece is SpaceX.

In its SEC filing, the company founded by Elon Musk set its price at $135 a share and offered about 555.5 million shares to raise roughly $75 billion, valuing SpaceX at $1.77 trillion and making it the seventh-most valuable U.S. company, ahead of Tesla.

Musk and SpaceX President and Chief Operating Officer Gwynne Shotwell rang the opening bell Friday, Musk from Texas and Shotwell from the Nasdaq MarketSite in New York.

The first public trade did not print at the opening bell as the stock cleared a Nasdaq auction to establish its opening price.

Goldman Sachs and Morgan Stanley led the offering as part of a syndicate of 23 banks listed in the prospectus.

Market Movers

SpaceX-related companies led early gains.

EchoStar, which owns an estimated 3% stake in SpaceX, rose about 4.8% before the open to roughly $134.28.

AST SpaceMobile advanced for a second straight session, while Rocket Lab gained about 4.5% after announcing it will join the Nasdaq-100 later this month.

Intel jumped about 5% after Bank of America analyst Vivek Arya upgraded the stock to Buy from Underperform and raised his price target to $135 from $96. Arya cited stronger demand for artificial-intelligence server chips and improved visibility into Intel’s contract manufacturing business, including a reported order from Google for more than three million custom AI processors.

Nvidia added about 1%. The company told Chinese customers its new Vera AI data-center processor could be available as early as August and is now open for orders.

Amazon also moved higher as investors returned to artificial-intelligence infrastructure names.

The biggest drag was Adobe, which fell about 7% despite reporting stronger-than-expected results.

Adobe reported quarterly revenue of $6.62 billion, above analyst expectations of $6.46 billion, but news of the planned departure of its chief financial officer triggered a series of analyst downgrades.

Goldman Sachs analyst Gabriela Borges lowered her price target to $190 from $220 while maintaining a Sell rating. Morgan Stanley analyst Keith Weiss said Adobe’s results reflected strong AI demand but expects the stock to remain range-bound.

Financial stocks also firmed, with JPMorgan Chase and Goldman Sachs trading higher.

Fifth Third Bancorp began trading on the New York Stock Exchange.

Among other notable movers, Playtika rose more than 5%, Virgin Galactic fell about 10%, DoubleVerify dropped roughly 4.2%, and Ollie’s Bargain Outlet declined about 3.3%.

Oil Falls as Diplomacy Gains Momentum

Oil prices declined on hopes that diplomatic progress could ease tensions in the Middle East.

West Texas Intermediate crude for July delivery fell 2.8% to $85.26 a barrel, while Brent crude dropped 2.5% to $88.13 a barrel.

The decline followed comments from President Trump indicating that an agreement could be reached as soon as this weekend in Europe.

A 14-point draft reported by Iranian state media would commit Iran to reopening the Strait of Hormuz within 30 days in exchange for the lifting of U.S. oil sanctions, although Tehran has not formally approved the proposal.

Lower oil prices typically translate into lower gasoline costs for consumers and businesses.

Meanwhile, gold traded near $4,180 an ounce after briefly dipping toward $4,000 before rebounding above $4,200.

The Cboe Volatility Index (VIX) eased toward 19.

Investors Focus on Historic Debut

Despite Friday’s gains, investors remained focused on the historic SpaceX debut.

Some traders reportedly sold existing holdings during the week to raise cash for SpaceX shares, contributing to choppy trading in parts of the technology sector even as the broader market advanced.

With the largest public offering in history still establishing its opening price, volatility is likely to remain elevated throughout the session.

JBizNews Desk — Markets

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