Stock futures tick higher as Wall Street gears up for SpaceX’s historic IPO: Live updates – CNBC

The three major averages finished higher on Friday.

The S&P 500 rose 0.5% to end the day at 7,431.46, while the Nasdaq Composite moved up 0.31% to settle at 25,888.84. The Dow Jones Industrial Average climbed 353.51 points, or 0.7%, to 51,202.26.

— Sean Conlon

UBS Analyst Michel Lerner believes it’s too soon to know whether recent market volatility is another chance to “buy the dip” in momentum stocks or if the market volatility is hinting that it’s going back to “historical norms.”

Momentum stocks, U.S. tech, and global tech have generated very strong returns, but market leadership has become narrow. Only about one in three stocks has outperformed over the past three months in the U.S. market. That’s the lowest share in more than 30 years.

With central banks becoming more hawkish, higher interest rates can hurt tech stocks.

“Given the higher inflation print, there is a renewed risk of replaying the 1999-2000 script when the Fed raised rates aggressively into the peak of the dotcom bubble,” Lerner said.

— Ananya Chetia

SpaceX signage at the Morgan Stanley headquarters in Times Square during the company’s initial public offering (IPO) in New York, US, on Friday, June 12, 2026.

Michael Nagle | Bloomberg | Getty Images

Very few companies can replicate SpaceX’s blockbuster IPO, said Taha Ahmed, a managing director at Post Oak Group. With the company’s valuation topping $2 trillion, Ahmed called SpaceX a “one-of-one asset.” 

“The market is rewarding scarcity as much as growth,” Ahmed wrote. 

Ahmed suspects that 2026 could be a pivotal moment for markets, noting OpenAI and Anthropic’s public listings could add to the fuel. 

“A successful run of high-profile offerings would likely increase confidence among boards, founders, and investors that public markets are once again a viable avenue for liquidity and growth capital,” he wrote. “While SpaceX itself may not be repeatable, its success could help reopen the IPO window for a select group of category leaders and fundamentally reshape expectations for the years ahead.”

— Ananya Chetia

A screen displays the company logo and trading information for Goldman Sachs on the floor at the New York Stock Exchange’s NYSE American (AMEX) in New York City, U.S., March 9, 2026.

Brendan McDermid | Reuters

Goldman Sachs led bank stocks higher on Friday as investors cheered its role in SpaceX’s public market debut.

Shares of Goldman, which was the lead-left bookrunner on the SpaceX transaction, climbed nearly 3% in midday trading. That made it the best performer in the Invesco KBW Bank ETF (KBWB), which rose around 1.5%.

Goldman vs. the KBWB, 1-day

With SpaceX IPO down, there’s two other major ones still on the way: OpenAI and Anthropic.

Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, reiterated a concern other investors have had about all the mega-IPOs set to come online this year: does the market have the liquidity to manage all of it?

“There is an impact from a supply/demand perspective when combined with the upcoming Anthropic and OpenAI IPOs, along with the dramatic reduction in the pace of stock buybacks by the hyperscalers,” Boockvar said. “So, a lot more equity supply and a reduction in stock buyback demand could be a lid to the market until everything gets digested.”

— Davis Giangiulio

SpaceX displayed outside the Nasdaq as the company launches their IPO on June 12, 2026.

Adam Jeffery | CNBC

SpaceX’s soaring market debut shouldn’t be considered indicative of its longer-term prospects, according to one analyst.

Instead, Matt Britzman, senior equity analyst at Hargreaves Lansdown, said investors should expect a bumpy path both up and down. He cautioned that “early share price moves should not be mistaken for a clean verdict on the long-term investment case.”

“Over the next few months, trading could be driven as much by market mechanics as by views on the business itself. Index buying, a limited free float, lock-up periods ending, and simple fear of missing out could all have a big say in where the shares go next.” Britzman said. “That means the share price may move sharply in either direction before investors get a clearer sense of where the market is genuinely willing to value SpaceX once the dust settles.”

— Jeff Cox

One investor said he wished he’d bought more shares of SpaceX, just a couple minutes into the rocket and satellite maker’s debut on the Nasdaq. The aerospace stock rallied more than 20%.

“I’m pleased to see the way that SpaceX has opened up. It was revealed to us overnight that this was more oversubscribed than I think even it was broadcast, at 4 times oversubscription,” said Jeff Kilburg, CEO of KKM Financial. “So we did not get the full allocations that we were hoping, for clients as well as for personal allocations. But we were happy to get some shares and participate.”

“I think liftoff, if you will, of this IPO has been positive,” he continued. “It’s only in the first couple minutes of trading, so to be determined, but I think this has been very successful. I think it really speaks to how many people globally really wanted to participate in this IPO.”

— Sarah Min

Pakistan’s Prime Minister Shehbaz Sharif attends a meeting with Chinese President Xi Jinping (not pictured) at the Great Hall of the People on May 25, 2026 in Beijing, China.

Tingshu Wang | Getty Images

Pakistani Prime Minister Shehbaz Sharif on Friday said that a “final, agreed upon text” of a deal between the U.S. and Iran “has been reached.”

Pakistan, which has acted as a mediator between the two countries throughout their war, “is now working closely with both sides to finalize the next steps,” Sharif said in an X post.

“Peace has never been this close as it is now,” he wrote. Read more.

— Kevin Breuninger

SpaceX at its debut entered the $2 trillion market cap club, joining five other U.S. companies.

At 12:30 p.m., the stock was trading at around $165 per share, and thus was at a market cap north of $2.1 trillion.

It joins Nvidia, Alphabet, Apple, Microsoft and Amazon with a valuation above that threshold.

— Davis Giangiulio

Shares of Elon Musk’s space company soared as SpaceX made its debut on the Nasdaq late Friday morning.

The stock was last up about 22%, trading at roughly $162 per share. SpaceX is already valued at more than $2 trillion.

SpaceX shares on Friday

There was some drama heading into the open as indications of interest showed the expected open price slipping before company’s debut. The stock opened at $150 per share.

— Darla Mercado

SpaceX begins trading at the Nasdaq MarketSite on June 12, 2026.

Adam Jeffery | CNBC

SpaceX opened Friday at $150 per share, officially marking an approximately 11% gain over its $135 IPO price.

But that price is lower than where indications of interest showed the rocket startup could begin trading. The price was initially indicated to trading desks at $175, a price that’s more than 16% higher than where the stock ended up opening.

— Alex Harring

City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom.

Mike Kemp | In Pictures | Getty Images

The pan-European Stoxx 600 closed Friday’s session up 1.8%.

Major regional bourses traded higher, with Italy’s FTSE MIB advancing 1.97% on the day. In Paris, the CAC 40 added 1.83%, while Germany’s DAX closed 1.66% up. In London, the U.K. FTSE 100 gained 1.63%.

All sectors except for oil and gas finished in positive territory, with European bank stocks gaining 4.11%, travel and leisure names adding 4.14%, and mining stocks rising 3.7%.

— Hugh Leask

Shares of companies in the space industry turned negative in mid-morning trading as investors awaited the market debut of SpaceX.

Rocket Lab was last off about 7%, and Redwire slid more than 6%. AST SpaceMobile was last lower by 10%. Satellite communications provider EchoStar Corp, which has an ownership stake in SpaceX, tumbled more than 6%.

Shares of EchoStar in the past day

All four stocks were higher in premarket trading.

On a related note, SpaceX is on track to open at roughly $165 per share, based on indications of interest that are used by trading desks to set the first trade. That’s down from an earlier reading of $175 per share, but still at a significant premium to the $135 per share IPO price.

— Darla Mercado and John Melloy

Gwynne Shotwell, SpaceX President and Chief Operating Officer, is joined by SpaceX executives and employees as they ring the Opening Bell at the Nasdaq MarketSite to celebrate the launch of SpaceX’s initial public offering (IPO) in New York on June 12, 2026.

Adam Jeffery | CNBC

Indications show that SpaceX is poised to open at $175 per share on Friday. That’s a 30% jump from its IPO pricing of$135.

SpaceX plans to sell 555.6 million shares in what is expected to be the largest initial public offering ever.

— Michelle Fox

The small-cap Russell 2000 index rose 1% on Friday to hit a new all-time intraday high.

The move higher in the index puts its year-to-date gains at nearly 19%.

Russell 2000, year-to-date

A shopper carries a bag in San Francisco, California, US, on Wednesday, June 10, 2026.

David Paul Morris | Bloomberg | Getty Images

Consumer sentiment improved in early June as gasoline prices ticked lower and the inflation outlook eased a bit, according to a University of Michigan survey Friday.

The Survey of Consumers posted a headline reading of 48.9, up 9.2% from May and better than the Dow Jones consensus view for 46.0. The gauge rose 4.1 points from the prior month but was still off 19.4% from a year ago. The sentiment gauge had posted record lows in the prior two months, and June’s reading is still below anything seen prior to April.

Current conditions and consumer expectations indexes also posted strong monthly gains — up 5.7% and 11.8% respectively — but also were still well below their levels at the same time in 2025.

On inflation, the one-year outlook dipped to 4.6%, down 0.2 percentage point from May, while the five-year view eased half a percentage point to 3.4%.

“This measured improvement in sentiment was widespread, seen across age, education, and political party,” said survey director Joanne Hsu. “Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets.”

Gasoline prices are down 40 cents a gallon for regular unleaded from a month ago, according to AAA.

— Jeff Cox

A pedestrian wears a “Fly to Space” SpaceX shirt during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, June 12, 2026.

Michael Nagle | Bloomberg | Getty Images

SpaceX is set to debut on the Nasdaq on Friday, and more mega-IPOs in the pipeline could boost the exchange’s outlook, according to Bank of America.

“Monthly US IPO proceeds of $15B (+15% m/m) was a post-pandemic high, and the upcoming large-cap IPOs could clear the way for further activity,” wrote analyst Eli Abboud. “Listings tend to build on momentum, so successful debuts from highly visible aerospace/AI companies could prompt more issuers to follow.”

More IPOs could also increase trading volumes and the Nasdaq’s coporate services revenue, Abboud added.

— Davis Giangiulio

The S&P 500 rose on Friday morning.

The broad market index gained 0.2% shortly after the opening bell, while the Nasdaq Composite moved just below the flatline. The Dow Jones Industrial Average climbed 310 points, or 0.6%.

— Sean Conlon

Nurphoto | Nurphoto | Getty Images

Advanced Micro Devices may be emerging as the second source for graphic processing units, GPUs, behind Nvidia, according to Citi.

The bank upgraded the chipmaker to buy from neutral. It also raised its price target to $575, which represents a more than 17% gain from Thursday’s close. 

Citi thinks AMD will likely surpass its goal of earnings greater than $20 per share by 2028. That’s due to increasing demand for its GPUs, coming in particular from one key hyperscaler. 

“We believe Meta will be a significantly larger customer of AMD’s AI products, especially GPUs, than the street is expecting,” wrote analyst Atif Malik in a Friday note. “We believe the use of custom MI450 GPUs is likely to provide Meta lower TCO vs merchant GPU products.”

CNBC Pro subscribers can read more here.

— Davis Giangiulio

Elon Musk’s SpaceX will need to achieve at least two of its three “moonshots” to justify its huge valuation, a former Tesla board member told CNBC. 

Venture capitalist and former Tesla board member Steve Westly told CNBC’s “Squawk Box Europe” that pricing SpaceX’s imminent IPO is going to be hard to predict, as its three core companies are “completely disparate.” 

In addition to its space business, Musk’s company owns the Starlink satellite internet service, which accounts for the bulk of its revenue and is the only profitable unit. It also includes xAI, which Musk merged with SpaceX in February.

— Joseph Wilkins

A general view of a SpaceX building ahead of the SpaceX initial public offering (IPO), in Starbase, Texas, U.S., June 11, 2026.

Gabriel V. Cardenas | Reuters

Crypto traders in SpaceX-linked perpetual futures continue to price in a strong public-market debut for Elon Musk’s space company.

The SPCX-USDC perpetual contract was trading around $176 on Hyperliquid on Friday, about 30% higher than the IPO price of $135 per share, though still down sharply from the peak levels exceeding $220 in May.

More than $233 million worth of the perp changed hands over the past 24 hours, while open interest climbed above $263 million, indicating sustained speculative demand.

The contracts, which do not expire and are primarily traded by leverage-seeking crypto investors, are one of the market’s most active proxies for pre-IPO sentiment toward SpaceX.

— Tanaya Macheel

Space-related stocks got a boost Friday ahead of the long-awaited SpaceX IPO set for later in the day.

Rocket Lab shares were up more than 4% in the premarket, while AST SpaceMobile advanced 2%. Redwire climbed 1%. EchoStar, which owns a stake in SpaceX, gained nearly 6%.

RKLB 5-day chart

A peace deal could be signed in Switzerland as soon as Sunday, Bloomberg reported Friday, citing people familiar with the plans.

IRNA, Iran’s official news agency, said the details including the time and place of the meeting are “media speculations” and an official announcement will be made as soon as the state reaches a final conclusion, citing a foreign ministry spokesperson.

The G7 summit runs from June 15 to June 17 and is taking place in Evian, in the French Alps.

— Joseph Wilkins

A Boeing 787 ‘Dreamliner’ plane with the logo of tourism giant TUI at Hanover airport in Langenhagen, central Germany.

JULIAN STRATENSCHULTE | AFP | Getty Images

Travel and leisure stocks led the surge in European markets on Friday morning.

Travel and leisure names were last seen more than 4.9% higher, followed by European banking stocks, which rose 3.7%, as the Stoxx 600 index rose about 1.7% in morning trade.

German travel and tourism mainstay Tui surged 8.5%, topping the pan-European benchmark. Budget airline Ryanair jumped 7.5%, while shares in German airline Lufthansa advanced 6.9%. International Consolidated Airlines Group, which owns British Airways, Iberia, Vueling and Aer Lingus, gained 6.4%. Low-cost carrier EasyJet was up 3.7%.

Tui AG.

Positive sentiment also spread to the banking sector, with Societe Generale leading the way with a 6.1% gain. Deutsche Bank added 5.5%.

— Hugh Leask

Global stocks rose sharply on Friday morning, as investors reacted to new details about a potential peace deal between the U.S. and Iran.

In Europe’s morning trading session, the pan-European Stoxx 600 was 1.9% higher, while Germany’s DAX, France’s CAC 40 and Italy’s FTSE MIB were all up more than 2%. London’s FTSE 100 was up by around 1.5%.

Asian stocks also saw sharp rises, with the South Korean Kospi jumping 4.6%, Japan’s Nikkei 225 up 2.8% and the Indian Nifty 50 up by 1.5%.

— Chloe Taylor

Vessels in the Strait of Hormuz near the beach of Bandar Abbas, Iran, June 8, 2026.

Amirhosein Khorgooi | ISNA | WANA | Reuters

The draft version of the Iran-U.S. memorandum of understanding includes a commitment from the U.S. to lift oil sanctions and a commitment from Iran to reopen the Strait of Hormuz, Iranian state media reported Friday.

The 14-point document dictates that final negotiations will not begin until the release of half of Iran’s frozen funds, the suspension of Iran’s oil sanctions, and the lifting of the naval blockade, the Mehr News Agency reported.

President Donald Trump on Thursday had claimed that the U.S. “just made a great settlement of the war with Iran,” subject to the “finalization of documents.”

Read more here.

— April Roach

Asia markets closed in the green as traders looked ahead to SpaceX’s historic initial public offering on Friday.

South Korea’s Kospi advanced 4.6% to close at 8,123.62 on Friday, while Japan’s Nikkei 225 rose 2.81% to 66,020.04. Mainland China’s CSI 300 closed 1.2% higher at 4,777.32, while Hong Kong’s Hang Seng was up 1.6% as of its last hour of trading.

Australia’s benchmark S&P/ASX 200 was up 1.98%, ending the trading day at 8,804.

— Lee Ying Shan

European stocks surged on Friday, following Asian peers higher as investors hope a peace deal between Washington and Tehran is nearing its conclusion.

Shortly after the opening bell, the pan-European Stoxx 600 index was seen up 1.1%, with all regional bourses and sectors, oil and gas exempted, trading in the green.

London’s FTSE 100 opened 0.8% higher, while France’s Cac 40 added 1.4% and Germany’s Dax rose 1.3%.

Travel and leisure stocks were the standout performers in early trade, rising 3.5%, while autos and banks also added 2.5% and 2.4%, respectively.

Meanwhile, the U.K. economy shrank by 0.1% in the month to April, figures published on Friday showed, as the impacts of the war continue to hamper growth.

April’s print followed growth of 0.3% in March, 0.4% in February and no growth in January.

— Joseph Wilkins

A drone view shows the Valero Houston Refinery in Pasadena outside of Houston, Texas, U.S., May 12, 2026. REUTERS/Shahrzad Rasekh

Shahrzad Rasekh | Reuters

Oil prices fell Friday after U.S. President Donald Trump said Washington had reached a framework agreement with Iran, raising hopes the Middle East conflict could be nearing its end.

U.S. crude oil futures for July delivery fell 1.61% to $86.30 per barrel, while August futures for international benchmark Brent lost 1.75% to $88.8 per barrel.

Speaking at the Oval Office, Trump said he expects an agreement to be signed “over the next few days,” assertions he has made several time during the conflict. He also said the Strait of Hormuz would reopen once a deal is finalized.

Brent oil

Tehran pushed back on Trump’s claim, with Iranian state-affiliated outlet Fars reporting on Telegram that Tehran had not approved any draft text for an initial memorandum of understanding with Washington.

— Lee Ying Shan

Alibaba is offering to acquire Chinese grocery delivery firm Pupu for $1.5 billion, sparking a bidding war as it seeks to grab more market share in e-commerce from Meituan, China’s largest food delivery services provider, according to Bloomberg.

Alibaba’s proposed price is more than double that of a bid from former affiliate Sun Art Retail, Bloomberg said, citing people familiar with the matter. Sun Art, which is backed by private equity firm DCP Capital, had proposed a takeover at $600 million, the people said.

News of Alibaba’s proposal comes mere months following the announcement of Meituan’s $717 million acquisition of Dingdong Fresh in February.

Alibaba and Meituan continue to engage in a fierce fight for market share in China’s highly competitive food delivery and quick commerce sectors.

— Justina Lee

Signage for Woodside Energy Group Ltd. atop the Mia Yellagonga building, which houses the company’s headquarters, in Perth, Australia, on Tuesday, Dec. 22, 2025.

Philip Gostelow | Bloomberg | Getty Images

Shares of Woodside Energy fell over 2% following its move to acquire ​PetroChina’s stake in ⁠the Browse ​Joint Venture, off the west coast of Australia.

The Australian energy company exercised its pre-emptive right ​to acquire ​the 10.67% stake and will pay $225 million to ​PetroChina. This payment will be made ​alongside ⁠with the reimbursement of ​cash call ​contributions ⁠made since June 30, 2025.

The Browse ​Joint Venture is a consortium of energy companies that will help develop Australia’s biggest undeveloped offshore gas resource. Woodside’s stake in the venture if it completes the acquisition will rise to 41.27%.

The project could contribute to energy security in the Asia Pacific region, with liquefied natural gas, liquefied petroleum gas and domestic gas production capacity estimated at 11.4 million ton per annum, according to Woodside Energy.

— Justina Lee

South Korea’s bourse operator activated a buy-side sidecar, or a brief halt in stock purchases, for benchmark Kospi index, Yonhap reported, following a sharp spike as rising hopes of an end to the Middle East conflict sent Asia markets broadly higher.

Program trading for shares listed on the Kospi was suspended for five minutes shortly after the market opened.

When the Kospi 200 Futures index rises 5% or more for at least a minute, a buy-side sidecar is triggered.

The Kospi was last at 8.37% higher at 8,414.13.

— Justina Lee

Asia-Pacific markets traded higher early Friday, with South Korea’s Kospi leading the gains.

The Kospi advanced 7.01% at open, while the small-cap Kosdaq added 3.25%.

Japan’s Nikkei 225 rose 3.4% while the Topix was 1.8% higher.

Australia’s benchmark S&P/ASX 200 was up 1.54%.

Hong Kong Hang Seng index futures were last at 24,376, higher than the index’s last close of 24,249.29.

— Justina Lee

Two men look at an electronic quotation board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on June 12, 2026.

Andrew Caballero-Reynolds | AFP | Getty Images

Asia-Pacific markets were set to open higher Friday, amid investor optimism that the Middle East conflict might end in the near future after President Donald Trump signaled that Iran and the U.S. could soon sign a peace deal.

Japan’s Nikkei 225 was poised to rise, with the Chicago futures contract at 66,665 and its Osaka counterpart last trading at 66,540, compared with the index’s previous close of 64,217.27.

Hong Kong Hang Seng index futures were last at 24,376, higher than the index’s last close of 24,249.29.

Futures for Australia’s S&P/ASX 200 last traded at 8,794, while the index closed at 8,633.20.

Trump told reporters in the Oval Office on Thursday that the U.S. “just made a great settlement of the war with Iran,” subject to the “finalization of documents.” He expects a signing to occur between Iran and the U.S. over the next few days. “The documents are in pretty final shape. It should be done and it should be done pretty quickly,” he said.  

— Justina Lee

Eight of the 11 GICS sectors finished higher on Thursday.

The materials sector was the session’s leader, rising 3.26% and was followed closely by the industrials sector, up 3.25%. A rally in chip stocks also sent the information technology sector up 2.94% to be the day’s third-best performer.

On the other hand, the energy sector shed 2.06% and was the session’s laggard. Consumer staples and real estate stocks also fell, respectively slipping 0.47% and 0.12%.

— Lisa Kailai Han

Traders will soon have all-day access to West Texas Intermediate crude oil futures and gold futures, according to CME Group.

The derivatives marketplace will offer 24-hour trading seven days a week for smaller gold and crude oil contracts, pending regulatory review, according to a press release.

CME Group said its existing 1-ounce gold futures contract will start trading 24/7 on July 26. The company has set a launch date of Aug. 30 for its new oil contract that will be a tenth the sizes of its existing Micro WTI futures.

— Darla Mercado

A sign is posted on the exterior of an Adobe office in San Francisco, Dec. 10, 2025.

Justin Sullivan | Getty Images

These are the stocks moving the most in after-hours trading:

• Adobe — The software giant slipped almost 6% after reporting that its fiscal second-quarter non-GAAP operating margin came in at 44%, below the 44.5% estimate, per LSEG. The company also announced that CFO Dan Dunn would depart on June 15 to pursue a new opportunity. However, Adobe did post an overall beat on both the top and bottom lines in its last quarter.
• RH — Shares slipped 1% after the home furnishings company guided for current-quarter revenue growth of between 0.5% to 2.5%, less than the 4.3% analysts polled by LSEG had penciled in. For its last quarter, RH posted a narrower-than-expected adjusted loss and a revenue beat.
• Lennar — The home construction stock shed more than 2% after its second-quarter revenue of $7.94 billion missed the $8.02 billion analysts had forecast, according to LSEG. Deliveries for the quarter also came in at 20,519, below the 20,541 estimate. Lennar’s earnings of $1.24 per share were in line with estimates.

— Lisa Kailai Han

Thu, Jun 11 20266:01 PM EDT

Stock futures traded little changed on Thursday evening.

Shortly after 6 p.m. ET, futures tied to all three major averages were trading slightly above the flatline.

— Lisa Kailai Han

The three major averages finished higher on Friday.

The S&P 500 rose 0.5% to end the day at 7,431.46, while the Nasdaq Composite moved up 0.31% to settle at 25,888.84. The Dow Jones Industrial Average climbed 353.51 points, or 0.7%, to 51,202.26.

— Sean Conlon

UBS Analyst Michel Lerner believes it’s too soon to know whether recent market volatility is another chance to “buy the dip” in momentum stocks or if the market volatility is hinting that it’s going back to “historical norms.”

Momentum stocks, U.S. tech, and global tech have generated very strong returns, but market leadership has become narrow. Only about one in three stocks has outperformed over the past three months in the U.S. market. That’s the lowest share in more than 30 years.

With central banks becoming more hawkish, higher interest rates can hurt tech stocks.

“Given the higher inflation print, there is a renewed risk of replaying the 1999-2000 script when the Fed raised rates aggressively into the peak of the dotcom bubble,” Lerner said.

— Ananya Chetia

SpaceX signage at the Morgan Stanley headquarters in Times Square during the company’s initial public offering (IPO) in New York, US, on Friday, June 12, 2026.

Michael Nagle | Bloomberg | Getty Images

Very few companies can replicate SpaceX’s blockbuster IPO, said Taha Ahmed, a managing director at Post Oak Group. With the company’s valuation topping $2 trillion, Ahmed called SpaceX a “one-of-one asset.” 

“The market is rewarding scarcity as much as growth,” Ahmed wrote. 

Ahmed suspects that 2026 could be a pivotal moment for markets, noting OpenAI and Anthropic’s public listings could add to the fuel. 

“A successful run of high-profile offerings would likely increase confidence among boards, founders, and investors that public markets are once again a viable avenue for liquidity and growth capital,” he wrote. “While SpaceX itself may not be repeatable, its success could help reopen the IPO window for a select group of category leaders and fundamentally reshape expectations for the years ahead.”

— Ananya Chetia

A screen displays the company logo and trading information for Goldman Sachs on the floor at the New York Stock Exchange’s NYSE American (AMEX) in New York City, U.S., March 9, 2026.

Brendan McDermid | Reuters

Goldman Sachs led bank stocks higher on Friday as investors cheered its role in SpaceX’s public market debut.

Shares of Goldman, which was the lead-left bookrunner on the SpaceX transaction, climbed nearly 3% in midday trading. That made it the best performer in the Invesco KBW Bank ETF (KBWB), which rose around 1.5%.

Goldman vs. the KBWB, 1-day

With SpaceX IPO down, there’s two other major ones still on the way: OpenAI and Anthropic.

Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, reiterated a concern other investors have had about all the mega-IPOs set to come online this year: does the market have the liquidity to manage all of it?

“There is an impact from a supply/demand perspective when combined with the upcoming Anthropic and OpenAI IPOs, along with the dramatic reduction in the pace of stock buybacks by the hyperscalers,” Boockvar said. “So, a lot more equity supply and a reduction in stock buyback demand could be a lid to the market until everything gets digested.”

— Davis Giangiulio

SpaceX displayed outside the Nasdaq as the company launches their IPO on June 12, 2026.

Adam Jeffery | CNBC

SpaceX’s soaring market debut shouldn’t be considered indicative of its longer-term prospects, according to one analyst.

Instead, Matt Britzman, senior equity analyst at Hargreaves Lansdown, said investors should expect a bumpy path both up and down. He cautioned that “early share price moves should not be mistaken for a clean verdict on the long-term investment case.”

“Over the next few months, trading could be driven as much by market mechanics as by views on the business itself. Index buying, a limited free float, lock-up periods ending, and simple fear of missing out could all have a big say in where the shares go next.” Britzman said. “That means the share price may move sharply in either direction before investors get a clearer sense of where the market is genuinely willing to value SpaceX once the dust settles.”

— Jeff Cox

One investor said he wished he’d bought more shares of SpaceX, just a couple minutes into the rocket and satellite maker’s debut on the Nasdaq. The aerospace stock rallied more than 20%.

“I’m pleased to see the way that SpaceX has opened up. It was revealed to us overnight that this was more oversubscribed than I think even it was broadcast, at 4 times oversubscription,” said Jeff Kilburg, CEO of KKM Financial. “So we did not get the full allocations that we were hoping, for clients as well as for personal allocations. But we were happy to get some shares and participate.”

“I think liftoff, if you will, of this IPO has been positive,” he continued. “It’s only in the first couple minutes of trading, so to be determined, but I think this has been very successful. I think it really speaks to how many people globally really wanted to participate in this IPO.”

— Sarah Min

Pakistan’s Prime Minister Shehbaz Sharif attends a meeting with Chinese President Xi Jinping (not pictured) at the Great Hall of the People on May 25, 2026 in Beijing, China.

Tingshu Wang | Getty Images

Pakistani Prime Minister Shehbaz Sharif on Friday said that a “final, agreed upon text” of a deal between the U.S. and Iran “has been reached.”

Pakistan, which has acted as a mediator between the two countries throughout their war, “is now working closely with both sides to finalize the next steps,” Sharif said in an X post.

“Peace has never been this close as it is now,” he wrote. Read more.

— Kevin Breuninger

SpaceX at its debut entered the $2 trillion market cap club, joining five other U.S. companies.

At 12:30 p.m., the stock was trading at around $165 per share, and thus was at a market cap north of $2.1 trillion.

It joins Nvidia, Alphabet, Apple, Microsoft and Amazon with a valuation above that threshold.

— Davis Giangiulio

Shares of Elon Musk’s space company soared as SpaceX made its debut on the Nasdaq late Friday morning.

The stock was last up about 22%, trading at roughly $162 per share. SpaceX is already valued at more than $2 trillion.

SpaceX shares on Friday

There was some drama heading into the open as indications of interest showed the expected open price slipping before company’s debut. The stock opened at $150 per share.

— Darla Mercado

SpaceX begins trading at the Nasdaq MarketSite on June 12, 2026.

Adam Jeffery | CNBC

SpaceX opened Friday at $150 per share, officially marking an approximately 11% gain over its $135 IPO price.

But that price is lower than where indications of interest showed the rocket startup could begin trading. The price was initially indicated to trading desks at $175, a price that’s more than 16% higher than where the stock ended up opening.

— Alex Harring

City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom.

Mike Kemp | In Pictures | Getty Images

The pan-European Stoxx 600 closed Friday’s session up 1.8%.

Major regional bourses traded higher, with Italy’s FTSE MIB advancing 1.97% on the day. In Paris, the CAC 40 added 1.83%, while Germany’s DAX closed 1.66% up. In London, the U.K. FTSE 100 gained 1.63%.

All sectors except for oil and gas finished in positive territory, with European bank stocks gaining 4.11%, travel and leisure names adding 4.14%, and mining stocks rising 3.7%.

— Hugh Leask

Shares of companies in the space industry turned negative in mid-morning trading as investors awaited the market debut of SpaceX.

Rocket Lab was last off about 7%, and Redwire slid more than 6%. AST SpaceMobile was last lower by 10%. Satellite communications provider EchoStar Corp, which has an ownership stake in SpaceX, tumbled more than 6%.

Shares of EchoStar in the past day

All four stocks were higher in premarket trading.

On a related note, SpaceX is on track to open at roughly $165 per share, based on indications of interest that are used by trading desks to set the first trade. That’s down from an earlier reading of $175 per share, but still at a significant premium to the $135 per share IPO price.

— Darla Mercado and John Melloy

Gwynne Shotwell, SpaceX President and Chief Operating Officer, is joined by SpaceX executives and employees as they ring the Opening Bell at the Nasdaq MarketSite to celebrate the launch of SpaceX’s initial public offering (IPO) in New York on June 12, 2026.

Adam Jeffery | CNBC

Indications show that SpaceX is poised to open at $175 per share on Friday. That’s a 30% jump from its IPO pricing of$135.

SpaceX plans to sell 555.6 million shares in what is expected to be the largest initial public offering ever.

— Michelle Fox

The small-cap Russell 2000 index rose 1% on Friday to hit a new all-time intraday high.

The move higher in the index puts its year-to-date gains at nearly 19%.

Russell 2000, year-to-date

A shopper carries a bag in San Francisco, California, US, on Wednesday, June 10, 2026.

David Paul Morris | Bloomberg | Getty Images

Consumer sentiment improved in early June as gasoline prices ticked lower and the inflation outlook eased a bit, according to a University of Michigan survey Friday.

The Survey of Consumers posted a headline reading of 48.9, up 9.2% from May and better than the Dow Jones consensus view for 46.0. The gauge rose 4.1 points from the prior month but was still off 19.4% from a year ago. The sentiment gauge had posted record lows in the prior two months, and June’s reading is still below anything seen prior to April.

Current conditions and consumer expectations indexes also posted strong monthly gains — up 5.7% and 11.8% respectively — but also were still well below their levels at the same time in 2025.

On inflation, the one-year outlook dipped to 4.6%, down 0.2 percentage point from May, while the five-year view eased half a percentage point to 3.4%.

“This measured improvement in sentiment was widespread, seen across age, education, and political party,” said survey director Joanne Hsu. “Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets.”

Gasoline prices are down 40 cents a gallon for regular unleaded from a month ago, according to AAA.

— Jeff Cox

A pedestrian wears a “Fly to Space” SpaceX shirt during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, June 12, 2026.

Michael Nagle | Bloomberg | Getty Images

SpaceX is set to debut on the Nasdaq on Friday, and more mega-IPOs in the pipeline could boost the exchange’s outlook, according to Bank of America.

“Monthly US IPO proceeds of $15B (+15% m/m) was a post-pandemic high, and the upcoming large-cap IPOs could clear the way for further activity,” wrote analyst Eli Abboud. “Listings tend to build on momentum, so successful debuts from highly visible aerospace/AI companies could prompt more issuers to follow.”

More IPOs could also increase trading volumes and the Nasdaq’s coporate services revenue, Abboud added.

— Davis Giangiulio

The S&P 500 rose on Friday morning.

The broad market index gained 0.2% shortly after the opening bell, while the Nasdaq Composite moved just below the flatline. The Dow Jones Industrial Average climbed 310 points, or 0.6%.

— Sean Conlon

Nurphoto | Nurphoto | Getty Images

Advanced Micro Devices may be emerging as the second source for graphic processing units, GPUs, behind Nvidia, according to Citi.

The bank upgraded the chipmaker to buy from neutral. It also raised its price target to $575, which represents a more than 17% gain from Thursday’s close. 

Citi thinks AMD will likely surpass its goal of earnings greater than $20 per share by 2028. That’s due to increasing demand for its GPUs, coming in particular from one key hyperscaler. 

“We believe Meta will be a significantly larger customer of AMD’s AI products, especially GPUs, than the street is expecting,” wrote analyst Atif Malik in a Friday note. “We believe the use of custom MI450 GPUs is likely to provide Meta lower TCO vs merchant GPU products.”

CNBC Pro subscribers can read more here.

— Davis Giangiulio

Elon Musk’s SpaceX will need to achieve at least two of its three “moonshots” to justify its huge valuation, a former Tesla board member told CNBC. 

Venture capitalist and former Tesla board member Steve Westly told CNBC’s “Squawk Box Europe” that pricing SpaceX’s imminent IPO is going to be hard to predict, as its three core companies are “completely disparate.” 

In addition to its space business, Musk’s company owns the Starlink satellite internet service, which accounts for the bulk of its revenue and is the only profitable unit. It also includes xAI, which Musk merged with SpaceX in February.

— Joseph Wilkins

A general view of a SpaceX building ahead of the SpaceX initial public offering (IPO), in Starbase, Texas, U.S., June 11, 2026.

Gabriel V. Cardenas | Reuters

Crypto traders in SpaceX-linked perpetual futures continue to price in a strong public-market debut for Elon Musk’s space company.

The SPCX-USDC perpetual contract was trading around $176 on Hyperliquid on Friday, about 30% higher than the IPO price of $135 per share, though still down sharply from the peak levels exceeding $220 in May.

More than $233 million worth of the perp changed hands over the past 24 hours, while open interest climbed above $263 million, indicating sustained speculative demand.

The contracts, which do not expire and are primarily traded by leverage-seeking crypto investors, are one of the market’s most active proxies for pre-IPO sentiment toward SpaceX.

— Tanaya Macheel

Space-related stocks got a boost Friday ahead of the long-awaited SpaceX IPO set for later in the day.

Rocket Lab shares were up more than 4% in the premarket, while AST SpaceMobile advanced 2%. Redwire climbed 1%. EchoStar, which owns a stake in SpaceX, gained nearly 6%.

RKLB 5-day chart

A peace deal could be signed in Switzerland as soon as Sunday, Bloomberg reported Friday, citing people familiar with the plans.

IRNA, Iran’s official news agency, said the details including the time and place of the meeting are “media speculations” and an official announcement will be made as soon as the state reaches a final conclusion, citing a foreign ministry spokesperson.

The G7 summit runs from June 15 to June 17 and is taking place in Evian, in the French Alps.

— Joseph Wilkins

A Boeing 787 ‘Dreamliner’ plane with the logo of tourism giant TUI at Hanover airport in Langenhagen, central Germany.

JULIAN STRATENSCHULTE | AFP | Getty Images

Travel and leisure stocks led the surge in European markets on Friday morning.

Travel and leisure names were last seen more than 4.9% higher, followed by European banking stocks, which rose 3.7%, as the Stoxx 600 index rose about 1.7% in morning trade.

German travel and tourism mainstay Tui surged 8.5%, topping the pan-European benchmark. Budget airline Ryanair jumped 7.5%, while shares in German airline Lufthansa advanced 6.9%. International Consolidated Airlines Group, which owns British Airways, Iberia, Vueling and Aer Lingus, gained 6.4%. Low-cost carrier EasyJet was up 3.7%.

Tui AG.

Positive sentiment also spread to the banking sector, with Societe Generale leading the way with a 6.1% gain. Deutsche Bank added 5.5%.

— Hugh Leask

Global stocks rose sharply on Friday morning, as investors reacted to new details about a potential peace deal between the U.S. and Iran.

In Europe’s morning trading session, the pan-European Stoxx 600 was 1.9% higher, while Germany’s DAX, France’s CAC 40 and Italy’s FTSE MIB were all up more than 2%. London’s FTSE 100 was up by around 1.5%.

Asian stocks also saw sharp rises, with the South Korean Kospi jumping 4.6%, Japan’s Nikkei 225 up 2.8% and the Indian Nifty 50 up by 1.5%.

— Chloe Taylor

Vessels in the Strait of Hormuz near the beach of Bandar Abbas, Iran, June 8, 2026.

Amirhosein Khorgooi | ISNA | WANA | Reuters

The draft version of the Iran-U.S. memorandum of understanding includes a commitment from the U.S. to lift oil sanctions and a commitment from Iran to reopen the Strait of Hormuz, Iranian state media reported Friday.

The 14-point document dictates that final negotiations will not begin until the release of half of Iran’s frozen funds, the suspension of Iran’s oil sanctions, and the lifting of the naval blockade, the Mehr News Agency reported.

President Donald Trump on Thursday had claimed that the U.S. “just made a great settlement of the war with Iran,” subject to the “finalization of documents.”

Read more here.

— April Roach

Asia markets closed in the green as traders looked ahead to SpaceX’s historic initial public offering on Friday.

South Korea’s Kospi advanced 4.6% to close at 8,123.62 on Friday, while Japan’s Nikkei 225 rose 2.81% to 66,020.04. Mainland China’s CSI 300 closed 1.2% higher at 4,777.32, while Hong Kong’s Hang Seng was up 1.6% as of its last hour of trading.

Australia’s benchmark S&P/ASX 200 was up 1.98%, ending the trading day at 8,804.

— Lee Ying Shan

European stocks surged on Friday, following Asian peers higher as investors hope a peace deal between Washington and Tehran is nearing its conclusion.

Shortly after the opening bell, the pan-European Stoxx 600 index was seen up 1.1%, with all regional bourses and sectors, oil and gas exempted, trading in the green.

London’s FTSE 100 opened 0.8% higher, while France’s Cac 40 added 1.4% and Germany’s Dax rose 1.3%.

Travel and leisure stocks were the standout performers in early trade, rising 3.5%, while autos and banks also added 2.5% and 2.4%, respectively.

Meanwhile, the U.K. economy shrank by 0.1% in the month to April, figures published on Friday showed, as the impacts of the war continue to hamper growth.

April’s print followed growth of 0.3% in March, 0.4% in February and no growth in January.

— Joseph Wilkins

A drone view shows the Valero Houston Refinery in Pasadena outside of Houston, Texas, U.S., May 12, 2026. REUTERS/Shahrzad Rasekh

Shahrzad Rasekh | Reuters

Oil prices fell Friday after U.S. President Donald Trump said Washington had reached a framework agreement with Iran, raising hopes the Middle East conflict could be nearing its end.

U.S. crude oil futures for July delivery fell 1.61% to $86.30 per barrel, while August futures for international benchmark Brent lost 1.75% to $88.8 per barrel.

Speaking at the Oval Office, Trump said he expects an agreement to be signed “over the next few days,” assertions he has made several time during the conflict. He also said the Strait of Hormuz would reopen once a deal is finalized.

Brent oil

Tehran pushed back on Trump’s claim, with Iranian state-affiliated outlet Fars reporting on Telegram that Tehran had not approved any draft text for an initial memorandum of understanding with Washington.

— Lee Ying Shan

Alibaba is offering to acquire Chinese grocery delivery firm Pupu for $1.5 billion, sparking a bidding war as it seeks to grab more market share in e-commerce from Meituan, China’s largest food delivery services provider, according to Bloomberg.

Alibaba’s proposed price is more than double that of a bid from former affiliate Sun Art Retail, Bloomberg said, citing people familiar with the matter. Sun Art, which is backed by private equity firm DCP Capital, had proposed a takeover at $600 million, the people said.

News of Alibaba’s proposal comes mere months following the announcement of Meituan’s $717 million acquisition of Dingdong Fresh in February.

Alibaba and Meituan continue to engage in a fierce fight for market share in China’s highly competitive food delivery and quick commerce sectors.

— Justina Lee

Signage for Woodside Energy Group Ltd. atop the Mia Yellagonga building, which houses the company’s headquarters, in Perth, Australia, on Tuesday, Dec. 22, 2025.

Philip Gostelow | Bloomberg | Getty Images

Shares of Woodside Energy fell over 2% following its move to acquire ​PetroChina’s stake in ⁠the Browse ​Joint Venture, off the west coast of Australia.

The Australian energy company exercised its pre-emptive right ​to acquire ​the 10.67% stake and will pay $225 million to ​PetroChina. This payment will be made ​alongside ⁠with the reimbursement of ​cash call ​contributions ⁠made since June 30, 2025.

The Browse ​Joint Venture is a consortium of energy companies that will help develop Australia’s biggest undeveloped offshore gas resource. Woodside’s stake in the venture if it completes the acquisition will rise to 41.27%.

The project could contribute to energy security in the Asia Pacific region, with liquefied natural gas, liquefied petroleum gas and domestic gas production capacity estimated at 11.4 million ton per annum, according to Woodside Energy.

— Justina Lee

South Korea’s bourse operator activated a buy-side sidecar, or a brief halt in stock purchases, for benchmark Kospi index, Yonhap reported, following a sharp spike as rising hopes of an end to the Middle East conflict sent Asia markets broadly higher.

Program trading for shares listed on the Kospi was suspended for five minutes shortly after the market opened.

When the Kospi 200 Futures index rises 5% or more for at least a minute, a buy-side sidecar is triggered.

The Kospi was last at 8.37% higher at 8,414.13.

— Justina Lee

Asia-Pacific markets traded higher early Friday, with South Korea’s Kospi leading the gains.

The Kospi advanced 7.01% at open, while the small-cap Kosdaq added 3.25%.

Japan’s Nikkei 225 rose 3.4% while the Topix was 1.8% higher.

Australia’s benchmark S&P/ASX 200 was up 1.54%.

Hong Kong Hang Seng index futures were last at 24,376, higher than the index’s last close of 24,249.29.

— Justina Lee

Two men look at an electronic quotation board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on June 12, 2026.

Andrew Caballero-Reynolds | AFP | Getty Images

Asia-Pacific markets were set to open higher Friday, amid investor optimism that the Middle East conflict might end in the near future after President Donald Trump signaled that Iran and the U.S. could soon sign a peace deal.

Japan’s Nikkei 225 was poised to rise, with the Chicago futures contract at 66,665 and its Osaka counterpart last trading at 66,540, compared with the index’s previous close of 64,217.27.

Hong Kong Hang Seng index futures were last at 24,376, higher than the index’s last close of 24,249.29.

Futures for Australia’s S&P/ASX 200 last traded at 8,794, while the index closed at 8,633.20.

Trump told reporters in the Oval Office on Thursday that the U.S. “just made a great settlement of the war with Iran,” subject to the “finalization of documents.” He expects a signing to occur between Iran and the U.S. over the next few days. “The documents are in pretty final shape. It should be done and it should be done pretty quickly,” he said.  

— Justina Lee

Eight of the 11 GICS sectors finished higher on Thursday.

The materials sector was the session’s leader, rising 3.26% and was followed closely by the industrials sector, up 3.25%. A rally in chip stocks also sent the information technology sector up 2.94% to be the day’s third-best performer.

On the other hand, the energy sector shed 2.06% and was the session’s laggard. Consumer staples and real estate stocks also fell, respectively slipping 0.47% and 0.12%.

— Lisa Kailai Han

Traders will soon have all-day access to West Texas Intermediate crude oil futures and gold futures, according to CME Group.

The derivatives marketplace will offer 24-hour trading seven days a week for smaller gold and crude oil contracts, pending regulatory review, according to a press release.

CME Group said its existing 1-ounce gold futures contract will start trading 24/7 on July 26. The company has set a launch date of Aug. 30 for its new oil contract that will be a tenth the sizes of its existing Micro WTI futures.

— Darla Mercado

A sign is posted on the exterior of an Adobe office in San Francisco, Dec. 10, 2025.

Justin Sullivan | Getty Images

These are the stocks moving the most in after-hours trading:

• Adobe — The software giant slipped almost 6% after reporting that its fiscal second-quarter non-GAAP operating margin came in at 44%, below the 44.5% estimate, per LSEG. The company also announced that CFO Dan Dunn would depart on June 15 to pursue a new opportunity. However, Adobe did post an overall beat on both the top and bottom lines in its last quarter.
• RH — Shares slipped 1% after the home furnishings company guided for current-quarter revenue growth of between 0.5% to 2.5%, less than the 4.3% analysts polled by LSEG had penciled in. For its last quarter, RH posted a narrower-than-expected adjusted loss and a revenue beat.
• Lennar — The home construction stock shed more than 2% after its second-quarter revenue of $7.94 billion missed the $8.02 billion analysts had forecast, according to LSEG. Deliveries for the quarter also came in at 20,519, below the 20,541 estimate. Lennar’s earnings of $1.24 per share were in line with estimates.

— Lisa Kailai Han

Thu, Jun 11 20266:01 PM EDT

Stock futures traded little changed on Thursday evening.

Shortly after 6 p.m. ET, futures tied to all three major averages were trading slightly above the flatline.

— Lisa Kailai Han