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SpaceX (SPCX) madeits historic debuton Friday, opening at $150 per share.
Investors'expectationsfor the stock were sky-high going into the start of trading.
The company, which aims to put AI data centers in space,pricedits shares at $135 each, raising about $75 billion and giving it an anticipated market capitalization of $1.77 trillion.
On paper, CEO Elon Musk became theworld's first trillionaire.
Meanwhile, US stocks rose modestly as investors assessed reports that the US and Iran are closing in on an interim peace deal.
The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) gained 0.3%.
The tech-heavy Nasdaq Composite (^IXIC) added nearly 0.2% following asurge in Wall Street stockson Thursday as President Trump called off threatened strikes on Iranian targets.
Markets weighed signs that theUS and Iran are edging closerto sealing an agreement to reopen the Strait of Hormuz when G7 leaders meet next week.
Oil pricesextended losses, with Brent crude futures (BZ=F) tumbling as much as 5% in early Friday trading to their lowest since March before recovering somewhat.
Also on Friday, the University of Michigan reported that US consumer sentiment rebounded from anall-time lowreading of 44.8 in May to 48.9 at the start of June.
One-year inflation expectations of 4.6% also came in below estimates.
SpaceX's (SPCX) stock extended gains more than an hour after the opening trade.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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