S&P 500, Dow rise as SpaceX debut nears and deal hopes lift mood
What's new: SpaceX was set to open near a $1.75 trillion valuation, with only 3% to 4% of shares available for trading.
US stocks traded unevenly Friday, with the S&P 500 and Dow edging higher as hopes for a Middle East deal supported sentiment and investors prepared for SpaceX’s Nasdaq debut. President Donald Trump said a deal to end the conflict and reopen the Strait of Hormuz could come as soon as this weekend, though Tehran had not made a final decision. SpaceX was expected to begin trading later in the day at a valuation near $1.75 trillion, which would make it one of the largest US-listed companies. At 9:32 a.m. ET, the Dow rose 303.74 points, or 0.6%, while the S&P 500 gained 0.18% and the Nasdaq slipped 0.1%. Other space stocks fell, while some investors braced for capital to rotate into SpaceX.