US markets rise on Iran peace hopes and SpaceX IPO

Financial markets rallied on Friday, June 12, 2026, propelled by optimism over a potential interim peace agreement between the United States and Iran and the historic public debut of SpaceX. U.S. stock futures advanced, while oil prices fell sharply on hopes for a deal to reopen the critical Strait of Hormuz.

The positive sentiment followed a volatile week marked by military escalations. Earlier in the week, U.S. forces conducted strikes on Iranian targets, described as retaliation for the downing of an American Apache helicopter. Those actions had initially spurred a sell-off in equities and a spike in oil prices, with investors fearing a prolonged conflict and the closure of the vital waterway. President Donald Trump had warned of severe consequences for Iran, but by Thursday, he indicated the U.S. was close to a peace deal and canceled additional planned airstrikes.

Market participants interpreted subsequent diplomatic signals as progress. Reports indicated the two nations were nearing a provisional agreement, with a framework text nearly finalized. While Iranian state media reported the country had not yet ceded control of the Strait and was seeking war-related compensation,...