By US stock-index futures rose on Friday as traders moved back into risk assets, encouraged by hopes that a Middle East deal may ease the oil shock and by anticipation around SpaceX’s market debut.
The mood was still fragile, with Iran yet to give final approval to any agreement and investors alert to whether a record listing from Elon Musk’s space, satellite and AI group will absorb liquidity from other parts of the market.
Lower crude prices also helped push Federal Reserve rate-hike expectations further out, giving equities some relief after a volatile week shaped by geopolitics and stretched technology valuations.
5 things to know before Wall Street opens
1. Futures point to a stronger open
S&P 500 and Nasdaq-100 futures rose about 0.6% each, while Dow futures climbed 300 points, or 0.6%, pointing to a stronger open on Wall Street.
The move extended a global rebound after investors took Trump’s latest comments as a sign that the Middle East conflict may be close to a diplomatic turning point.
2. Oil retreat eases the inflation scare
Brent crude fell back below $90 a barrel after Trump said the US and Iran could sign a peace agreement as soon as this weekend, potentially reopening the Strait of Hormuz to shipping.
Tehran has said a final decision has not been made, leaving markets exposed to another reversal if talks stall.
Still, the drop in oil was enough to cool some inflation anxiety. Traders pushed expectations for the next Fed rate increase towards December, after earlier pricing had pointed to October.
That shift matters for equities because higher energy costs had threatened to keep price pressures elevated for longer.
3. SpaceX debut dominates the session
SpaceX is expected to begin trading on Nasdaq under the ticker SPCX after pricing shares at $135 each and raising $75 billion, the largest IPO on record.
The deal values the company at roughly $1.75 trillion to $1.77 trillion, putting it immediately among the most valuable listed US companies.
Investor demand has been intense, but the structure also raises questions.
4. Space trade gets a premarket lift
The listing has already pushed money into listed space names. Rocket Lab and Intuitive Machines each rose about 7% in premarket trading, while Planet Labs gained nearly 4%.
Funds with exposure to SpaceX also advanced. The enthusiasm reflects investor appetite for anything linked to rockets, satellites, defence technology and orbital data infrastructure.
5. Adobe slips after CFO exit
Adobe was the main large-cap drag in premarket trading, falling more than 5% after Chief Financial Officer Dan Durn’s planned departure overshadowed an improved annual forecast.
The reaction underlined how sensitive software investors remain to leadership changes and AI-related strategy questions.
Airlines moved the other way, with Alaska Air and Delta gaining as lower fuel prices improved the margin outlook.
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