BREAKING: Stocks Rise In Wild Week
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Research 6:58 PM ET
The Big Picture 5:40 PM ET
Stock Market Climbs As U.S.-Iran Peace Hopes Rise; First Warsh-Led Fed Meeting Looms
Stock Market Today 5:12 PM ET
Bounce Continues But Magnificent 7 Sit Out; Comfort Systems, Intel, Nebius In Focus
The Dow Jones Industrial Average and other major indexes marked a winning session Friday, with SpaceX ( SPCX) popping in its trading debut in the largest initial public offering ever. Wall Street ended the week with hopes that a U.S.-Iran peace deal will be solidified soon.
On the major indexes, the Dow progressed 0.7%, as Goldman Sachs ( GS), Verizon ( VZ) and JPMorgan Chase ( JPM) shined with gains of more than 2%. The S&P 500 climbed 0.5%, and the Nasdaq composite advanced 0.3%. Small caps finished strong, with the Russell 2000 rising 0.8%.
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How The Iran War Is Taking Global Oil Inventories To The Brink
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Meanwhile, West Texas intermediate crude oil futures dropped nearly 4% to around $84.30 a barrel as Pakistani Prime Minister Shehbaz Sharif said a "final, agreed-upon text of the peace deal" has been reached between the U.S. and Iran.
The 10-year Treasury yield rose two basis points to 4.48%, but logged its third weekly drop in the past four weeks, according to Dow Jones Market Data. Bitcoin eased to just over $63,500.
Advancing stocks beat decliners on the Nasdaq exchange by around 4-to-3. The ratio was 2-to-1 positive on the New York Stock Exchange.
Stock Market Today: SpaceX Bolts Higher
SpaceX stock ended Friday's session at 161.11 after opening at 150 in its public market debut.
universal chart
Shares of the Elon Musk-led spacecraft designer hit a high of 176.52 on the stock market today. The shares gained 19.3% from the offer price of 135.
Meanwhile, Musk-led Tesla ( TSLA) closed 1.8% higher.
In other stock moves, Sandisk ( SNDK) bolted higher and topped the 2,000 price level earlier in the session, before trimming its gain to 5.2%.
Dow name Nvidia ( NVDA) eked out a 0.1% gain on the stock market today. Shares tested their 50-day moving average, finding resistance.
Market Rises In Wild Week, 5 Stocks In Buy Areas; SpaceX's Next Test
3:28 p.m. ET
Satellite Name Dives
Satellite communications name EchoStar ( SATS) was another SpaceX casualty, cratering nearly 12% in huge volume on Friday. EchoStar knifed below its 50-day moving average after reclaiming it Thursday. Shares broke out of a consolidation pattern with a 132.25 buy point in early April, but the breakout quickly faded.
EchoStar's relative strength line has been trending lower since peaking in April. FactSet forecasts call for the company's full-year 2026 and 2027 sales to each drop 3%, following declines of 7% in 2024 and 5% in 2025.
Leading the IBD 50 Friday was Travere Therapeutics ( TVTX) with its 7% spike. Shares got a lift after Wells Fargo raised its price target to 65 from 50 and maintained its overweight rating on the biopharmaceutical stock.
Travere hit a 20-year high on the stock market today. Shares reached the 20% profit zone of a cup base with a 42.13 buy point.
1:30 p.m. ET
SpaceX Soars, Rocket Lab Dives
SpaceX stock was around 173 in recent trades.
The satellite internet and spacecraft company's market capitalization topped the $2 trillion level in the biggest initial public offering on record. The company's valuation also made founder Elon Musk the world's first trillionaire.
universal chart
IBD 50 name Rocket Lab ( RKLB) skidded around 7% and tested its 50-day moving average. ViaSat ( VSAT) fell more than 3% and tested its 21-day exponential moving average
Space focused exchange traded funds tanked as SpaceX started trading on the stock market today. The Procure Space ETF ( UFO) slid more than 6% and undercut its 50-day moving average. Shares of the Tema Space Innovators ETF ( NASA) plunged around 8% in heavy trading and also fell below their 50-day line.
Elon Musk's other company Tesla ( TSLA) trimmed around 0.3% on the stock market today.
12:34 p.m. ET
Stocks Making Big Moves
Arm Holdings ( ARM) jumped nearly 10% in the Nasdaq-100, while Intel ( INTC) advanced about 5%. The VanEck Semiconductor ETF ( SMH) strengthened to a gain of 1.3%.
In other moves, Advanced Micro Devices ( AMD) rallied 5% and climbed above its 10-day moving average, helped by an upgrade to buy from neutral at Citi.
IBD 50 Movers
Several growth stocks outperformed again in the IBD 50 index, helping lift the CapForce IBD 50 ETF ( FFTY) to a gain of around 1%.
In the chip-equipment group, Teradyne ( TER) jumped 5% and rose to the top of a six-week consolidation. The stock has recovered well after an earnings sell-off in late April.
Astera Labs ( ALAB) fell off session highs, but still rallied 1.5% to an all-time high.
11:20 a.m. ET
Viavi, Bloom Energy Jump
In the Telecom-Equipment group, Viavi Solutions ( VIAV) broke out of a downtrend as it found support at its 50-day moving average. Shares bounced more than 6%.
Stock market leader Bloom Energy ( BE) also made a stand at its 50-day moving average. Shares bounced around 4%.
Several mining stocks outperformed, including copper stocks. Freeport-McMoRan ( FCX) rallied more than 1% and is back above all of its moving averages. Southern Copper ( SCCO) jumped more than 2% and is also above all of its moving averages.
Solar stocks also outperformed. One of the fundamental standouts in the group is SolarEdge Technologies ( SEDG), which recently came down and retested a 53.75 buy point. Shares rallied more than 3%.
First Solar ( FSLR), another high-quality name in the group, added less than 1%. It recently tried to break out from a shallow cup base, but got pulled down with the broad market and is still below a 285.99 buy point.
10:23 a.m. ET
Stock Market Action
Caterpillar ( CAT) continued its rally in the Dow Jones index. Shares rose another 1% after a gain of nearly 5% Thursday. Caterpillar is back above all of its moving averages.
Specialty chemicals maker Albemarle ( ALB) outperformed in the S&P 500. So did fertilizer maker Mosaic ( MOS) on hopes the Strait of Hormuz will be opening soon.
Albemarle rose more than 6%, but the stock is still more than 20% off its high and below its 50-day moving average. That means it still has a lot of overhead supply to get through. Mosaic jumped 5% and is in a similar position.
The Procure Space ETF ( UFO) slumped 5% as it battles for support at its 50-day moving average, while the Tema Space Innovators ETF ( NASA) lost 6%.
Other space stocks got attention, like Rocket Lab ( RKLB). Shares rose early on news the stock is joining the Nasdaq-100. But Rocket Lab reversed lower for a loss of 8%.
AST SpaceMobile ( ASTS) crashed more than 10%. EchoStar ( SATS), which has a stake in SpaceX, slumped more than 8%
9:46 a.m. ET
SpaceX IPO To Start Trading
Elon Musk-led SpaceX priced its IPO Thursday, with the space company officially planning to sell 555.6 million shares at $135 apiece and raise $75 billion for a $1.77 trillion valuation.
The stock is expected to begin trading on the Nasdaq exchange on Friday under the ticker SPCX.
Crypto trading site Hyperliquid showed perpetual futures for SpaceX shares trading around 171 early Friday, indicating a 27% premium vs. the IPO price. If the stock moves to reflect that premium, it would give SpaceX a valuation above $2 trillion.
Nasdaq-100 Winners, Losers: Arm, Marvell, Micron
Among the Nasdaq-100 stocks, Arm Holdings ( ARM) and Constellation Energy ( CEG) rallied 4% and 2%, respectively, making them some of the best performers just after the market open.
Meanwhile, Marvell Technology ( MRVL) and Micron Technology ( MU) sold off roughly 3% each in morning trade.
8:56 a.m. ET
Dow Jones Movers: Amazon, Caterpillar, Salesforce
Inside the Dow Jones industrials, Amazon ( AMZN) and Caterpillar ( CAT) climbed 0.7% and 0.5%, respectively, before the opening bell.
On the downside, Salesforce ( CRM) and Boeing ( BA) posted modest losses ahead of the market open.
8:11 a.m. ET
U.S.-Iran Peace Deal Hopes
The U.S. and Iran reportedly could sign an agreement next week in Geneva around the Group of Seven meeting, Bloomberg reported. The agreement may be a memorandum of understanding rather than a final deal. The deal terms are unclear, but the Strait of Hormuz apparently would open.
Midday Thursday, President Donald Trump canceled scheduled strikes against. Iran for that evening, saying a peace deal could happen as soon as this weekend.
Adobe Dives On Earnings
Adobe ( ADBE) stock dived more than 7% premarket Friday despite the company easily beating Wall Street's targets for its fiscal second quarter and its guidance. But Adobe's chief financial officer announced his departure.
Late Thursday, Adobe earned an adjusted $5.96 a share on sales of $6.62 billion in the fiscal quarter. FactSet estimates called for EPS of $5.82 and sales of $6.45 billion.
Other earnings movers include Lennar ( LEN) and RH ( RH). Lennar shares were little changed, while RH stock fell a fraction.
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Truly Unique AI Powerhouse Etches Buy Zone. Now Comes This Test.
Stock Market Today: Consumer Sentiment, Inflation Survey
The University of Michigan's consumer sentiment reading is set for 10 a.m. ET.
The consensus is for a small rebound to 46 in June from May's 44.8 reading, while one-year inflation expectations are expected to remain unchanged in June from May's 4.8%.
Apple, Nvidia, Broadcom And This Dow Retail Behemoth Fire Up Breakout Watch
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jone s Industrial Average and the stock market today.
Follow Ken Shreve on X @IBD_KShreve for more stock market analysis and insight.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig
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