U.S. equity futures moved higher early Friday, lifted by anticipation surrounding SpaceX’s debut on public markets, while investors watched developments in the Middle East as reports pointed to the forthcoming reopening of the Strait of Hormuz.
At 4:12 p.m. (Bangkok Time), Dow Jones Industrial Average futures advanced 0.56% prior to the opening bell. S&P 500 futures also saw gains of 0.32%, while Nasdaq 100 contracts edged up 0.14%. The upward momentum reflects optimism ahead of SpaceX’s entrance to public markets, a move set to mark the largest initial public offering on record.
SpaceX, which planned to deploy artificial intelligence data centers in orbit, finalized its IPO share price at $135, bringing in approximately $75 billion and targeting a starting market value estimated at $1.78 trillion. Elon Musk, the company’s chief executive, stands to become the first individual to attain trillionaire status if valuations hold.
Investor attention remains fixed on the size and impact of the offering, as market participants gauge whether demand for SpaceX shares could trigger volatility, draw capital away from other technology stocks, or prompt leadership shifts within the sector.
Meanwhile, Iranian state outlets signaled progress in talks with the U.S. The reported draft agreement includes American commitments to ease sanctions on Iran’s oil sector, alongside a pledge from Iran to reopen the Strait of Hormuz, a vital corridor for global energy shipments.
On the economic data front, traders await the University of Michigan’s preliminary consumer sentiment reading for June, which is scheduled for release Friday morning.
