Stock market today: Dow, S&P 500, Nasdaq futures rise in wait for historic SpaceX debut amid hopes for Iran-US peace

US stock futures climbed Friday as investors anticipated SpaceX’s (SPCX) market debut, set to be the largest initial public offering in history. Dow Jones futures rose 0.6%, S&P 500 futures advanced 0.5%, and Nasdaq 100 futures gained 0.4%, following a surge in Wall Street stocks Thursday after President Trump canceled planned strikes on Iranian targets. SpaceX priced its shares at $135 each, valuing the company at $1.78 trillion and raising approximately $75 billion. The listing positions CEO Elon Musk to become the world’s first trillionaire, pending performance. Pre-IPO trading in derivatives suggests a potential 30% to 50% gain, with some valuations reaching $2.4 trillion. Adobe’s stock fell 8% after announcing CFO Dan Durn’s departure on June 15, 2026, to join Marvell as CFO. Despite the drop, Adobe reported record Q2 revenue of $6.62 billion and earnings of $5.96 per share, exceeding Wall Street estimates. CEO Shantanu Narayen highlighted strong AI-driven demand and raised full-year fiscal 2026 revenue and earnings targets. Tesla shares traded cautiously higher by less than 1% before the market open, influenced by SpaceX’s upcoming IPO. Though Tesla and SpaceX operate separately—focusing on EVs/robotics and rocketry/AI, respectively—they share ties through Tesla’s $2 billion SpaceX stake and integrated Starlink services. Markets also reacted to reports of US-Iran progress toward an interim peace deal, easing tensions over the Strait of Hormuz. Oil prices initially dropped 5% before recovering, while the University of Michigan’s consumer sentiment index hit an all-time low of 44.8 in May, reflecting economic concerns.