In the early morning of June 13, Beijing time, U.S. stocks rose in late trading on Friday. It is rumored that the United States and Iran are close to reaching a peace agreement. Iranian state media reported that the peace deal would reopen the Strait of Hormuz. SpaceX landed on Nasdaq, with a market capitalization of over US$2 trillion at the opening, exceeding the previous valuation of US$1.77 trillion, and currently ranks seventh in the US stock market.
The Dow rose 416.51 points, or 0.82%, to 51265.26 points; the Nasdaq rose 91.53 points, or 0.35%, to 25901.19 points; the S&P 500 rose 36.82 points, or 0.50%, to 7431.12 points.
Global stock markets were higher on Friday. Japan's Nikkei 225 surged 2.8%, India's Nifty 50 rose 1.3%, South Korea's Kospi rose 4.6%, and the Shanghai Composite rose more than 1%. In Europe, the Stoxx 600 index rose 1.7%.
The U.S.-Iran peace agreement could be signed as early as Sunday in Switzerland, media reported on Friday, citing people familiar with the matter.
Iranian state media reported on Friday that a draft memorandum of understanding between Iran and the United States includes a U.S. commitment to lift oil sanctions and Iran's commitment to reopen the Strait of Hormuz.
Iranian Foreign Minister Abbas Araghchi posted on X that the Islamabad Memorandum of Understanding has "never been so close." He said details would be released "in due course" and said: "The media should avoid speculation on its content until it is finalized".
Stocks had already risen on Thursday, helped by a rebound in chip stocks and U.S. President Donald Trump's hints that a peace deal with Iran was imminent.
On Friday, Elon Musk's SpaceX successfully landed on Nasdaq under the trading code SPCX. Its opening market value exceeded US$2 trillion, exceeding the previous valuation of US$1.77 trillion, and currently ranks seventh in the US stock market.
The company plans to issue 555.6 million shares and raise $75 billion, making it the largest initial public offering in history. This size is more than three times the size of Alibaba’s $22 billion IPO in 2014, which is currently the largest IPO in the United States.
As of press time, SpaceX's share price has risen by US$34.86, or 25.82%, to US$169.86, with its market value exceeding US$2.2 trillion.
However, some investors are worried that the large scale of SpaceX's issuance may put pressure on the market.
Analysts said that even if the market can digest these new SpaceX shares, the IPO itself is highly volatile, and Friday's issuance may trigger another rotation in the leadership of technology stocks, as investors need to raise funds to subscribe for new shares.
Douglas Beath, global equity strategist at Wells Fargo Investment Institute, said: "History shows that large-scale IPO issuances occur during periods of strong market sentiment, but the new stock supply can cause indigestion. U.S. household equity allocations are close to historical highs, which means they may sell existing positions to finance these new positions."
"Coupled with ongoing geopolitical tensions and the upcoming midterm elections, this could be yet another reason for markets to exhibit greater volatility in the second half of the year."
"We remain bullish on the artificial intelligence theme and the information technology sector, but will not chase this rally," he added, noting that as of May 29, the sector had gained 37% since April, compared with the S&P 500's 17% gain over the same period.
Thursday's gains pushed the S&P 500 and Nasdaq Composite back into positive territory this week, with weekly gains of 0.14% and 0.39% respectively. The blue-chip Dow Jones Industrial Average lagged behind, with a cumulative loss of 0.04% expected this week.