New York, June 12, 2026, 16:03 (ET)
- The S&P 500 was up 0.46% at 7,428.51, with the Dow finishing 0.73% higher at 51,217.63. The Nasdaq ended the session up 0.29% to 25,884.99, Reuters’ LSEG market data showed.
- Brent crude fell 3.37% to close at $87.33 a barrel, cutting back a major inflation concern for equities.
- SpaceX made a splash in its first day on Nasdaq. The stock traded up 28% at about $172, after it was priced at $135, Reuters said.
U.S. stocks closed up Friday, boosted by a drop in oil prices and rising optimism about U.S.-Iran peace talks. LSEG data from Reuters after the bell showed the S&P 500 rose 34.21 points, the Dow gained 368.88 points, and the Nasdaq added 75.33 points. All three main indexes finished in the green.
Oil prices dropped, pulling down Brent crude to $87.33 and U.S. West Texas Intermediate settling at $84.88. The slide comes as traders bet on a deal that would open up the Strait of Hormuz. That could ease supply worries and hit energy prices, which feed straight into inflation, consumer spending, and company profits. “Headlines are driving the market once again as confidence grows that an eventual deal will be struck and the Strait (of Hormuz) reopens,” PVM Oil Associates analyst Tamas Varga told Reuters. Reuters
SpaceX grabbed the spotlight among single-stock moves. Its IPO brought in $75 billion at $135 a share. Shares started trading at $150 and moved up to about $172, Reuters said. With that, SpaceX’s market cap topped $2.25 trillion, showing investors still want big growth plays hooked to space, communications and AI.
Space stocks didn’t move together. Reuters said Rocket Lab, Intuitive Machines, and Planet Labs dropped as investors moved out of smaller names that had climbed before SpaceX’s debut. The split is notable. Friday’s trade looks like a liquidity and attention event centered on the big listing, not a sector-wide upgrade.
U.S. stocks have a bull story this week with falling oil, a modest pickup in consumer sentiment, and high bar for earnings growth. The University of Michigan said on Friday that consumer sentiment improved by about four points, or 9%, after gasoline prices dropped. FactSet put S&P 500 second-quarter earnings growth at 21.9%. UMich ISR
Valuation and policy risk are the main bear arguments. FactSet said the S&P 500’s forward P/E is now at 20.1, above its five- and 10-year averages. Reuters noted earlier this week that the S&P 500 tech sector dropped 11% from its June 2 closing high, putting it in correction territory, while rate hike bets for later this year are in the market. FactSet
Fed Meeting, SpaceX Options in Focus as Volatility Catalysts
The big event ahead is the Federal Reserve’s June 16-17 policy meeting. Investors are eyeing whether Fed officials lean more toward inflation fears or concerns over growth. Reuters said traders are betting the Fed keeps rates unchanged at 3.5% to 3.75%, but see odds above 50% for a hike before year-end. SpaceX is also in play as a short-term driver. Options, which give the right but not the obligation to buy or sell shares at a set price, are expected to start trading as early as Tuesday. Federal Reserve Reuters
U.S. stocks are trading at levels that look fair to risky, not cheap, on today’s data. Earnings are strong, but valuations are running above long-term trends, and the market is still swinging on oil, Fed news and crowded growth names. SpaceX is a tougher buy after its debut jump. The current price already bakes in high expectations, and there’s not much free float. Options are likely expensive, and volatility could rise around earnings or index news. FactSet
