US Stocks Rise as SpaceX Jumps 19.2% and Brent Crude Falls to $87.33

3 articles · Updated · The Associated Press · Jun 12

The S&P 500 gained 0.5% Friday for its 10th winning week in 11, while the Dow added 353 points and the Nasdaq rose 0.3%.
Brent crude dropped 3.4% to $87.33 a barrel after Donald Trump withdrew a strike threat against Iran and said a deal could be near, easing inflation and supply fears tied to the Strait of Hormuz.
SpaceX surged 19.2% in its Wall Street debut, valuing Elon Musk’s rocket company at $2.1 trillion and signaling investor appetite for AI-linked names despite recent volatility.
AI stocks were otherwise mixed: CoreWeave rose 5% on plans to join the Nasdaq 100, while Micron fell 1.4% and Adobe slid 6.8% despite beating quarterly estimates.
Treasury yields rebounded, with the 10-year rising to 4.48% from 4.45%, after a University of Michigan survey showed consumer sentiment improved more than expected as gasoline prices eased.

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The Associated Press37d ago

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The Wall Street Journal38d ago

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The Guardian38d ago

SpaceX makes $1.77tn stock market debut with Elon Musk likely to become world's first trillionaire today – business live

17 Sources

With its focus now on AI, can SpaceX's speculative new business justify its record-breaking $1.77 trillion valuation?

Is the massive SpaceX IPO the peak of the AI stock market bubble or the start of a new technological era?

Will the potential U.S.-Iran deal permanently stabilize oil prices, or is it another temporary fix for the global economy?

SpaceX’s $75B IPO Shatters Records: AI, Starlink, and the New Tech Market Bellwether

Overview

On June 12, 2026, SpaceX made history with its record-breaking IPO on the Nasdaq, raising $75 billion and instantly becoming one of the world’s most valuable public companies. This offering more than doubled the previous global IPO record and pushed SpaceX ahead of Tesla in market value, placing Elon Musk on the verge of becoming the world’s first trillionaire. The company’s strong revenue growth, driven by its expanding Starlink satellite internet business and dominance in commercial space launches, highlights SpaceX’s transformation into a leader at the intersection of space, technology, and artificial intelligence.

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