Wall Street shares rose on Friday as oil prices fell following claims from U.S. President Donald Trump of a breakthrough in talks to end the war with Iran. The S&P 500 added 0.5% to close its 10th winning week in the last 11, while the Dow Jones Industrial Average climbed 353 points (0.7%) and the Nasdaq composite gained 0.3%. Oil prices saw significant declines, with Brent crude falling between 3% and 4% to levels between $87.33 and $87.44 per barrel. The price drop followed Trump’s Thursday announcement that he called off threats of military strikes against Iran and asserted that a “great settlement” was made. Reports suggest a deal could reopen the Strait of Hormuz, a key waterway for oil and gas transit that has been largely closed since the war began in late February. While some analysts noted that previous claims of a deal have not always resulted in a lasting peace, others observed more positive sentiment regarding the current situation. SpaceX made its highly anticipated Wall Street debut, with the company’s stock leaping 19.2% on its first day of trading. The debut raised approximately $75 billion, making it the largest IPO on record. According to The Durango Herald, if shares hold at their offering price, the company’s market value would be $1.77 trillion; however, The Killeen Daily Herald reported the stock’s leap gave the company a total value of $2.1 trillion. In other market activity, Adobe shares fell between 6.8% and 7.3% despite the company beating sales and profit targets and raising full-year guidance. Adobe also announced that its chief financial officer is stepping down on Monday. Global markets also saw gains, with South Korea’s Kospi jumping 4.6% and Tokyo’s Nikkei 225 rising 2.8%. In the bond market, the yield on the 10-year Treasury climbed to 4.48%.