US stocks rise as SpaceX debut boosts market

U.S. stock indexes closed higher on Friday, June 12, 2026, as optimism over a potential U.S.-Iran peace deal and the historic market debut of SpaceX lifted investor sentiment. The major averages also posted weekly gains.

The Dow Jones Industrial Average rose 353.51 points, or 0.7 percent, to 51,202.26. The S&P 500 gained 37.16 points, or 0.5 percent, to 7,431.46, and the Nasdaq Composite added 79.18 points, or 0.3 percent, to 25,888.84. The small-cap Russell 2000 index reached a record closing high.

Market participants were focused on shares of Elon Musk's SpaceX, which began trading on the Nasdaq. In its debut, the stock surged 19.2 percent to close at $160.95, well above its initial public offering price of $135 per share. The closing gave the company a market capitalization of $2.1 trillion, making it the largest public listing in Wall Street history and ranking it among the biggest U.S. publicly traded companies. Shares of other space-related companies, which had rallied in anticipation of the listing, retreated. Rocket Lab stock fell 10.8 percent, Intuitive Machines dropped 13.1 percent, and Planet Labs declined 8.8 percent.

Investor sentiment also received a boost from...