U.S. Stocks rose on Friday as oil prices eased and SpaceX made a high-profile debut on Wall Street. The S&P 500 gained 0.5%, marking its 10th winning week in the last 11, while the Dow Jones Industrial Average rose 353 points (0.7%) and the Nasdaq composite gained 0.3%. The market received a lift from a 3.4% drop in Brent crude oil prices, which fell to between $87.29 and $87.33 per barrel. According to the Lufkin Daily News and the Yakima Herald-Republic, prices fell following President Donald Trump’s Thursday announcement that he called off threats of strikes on Iran and suggested a potential deal may be imminent. The reports noted that a deal could reopen the Strait of Hormuz, which has been nearly closed since the war began, potentially allowing oil tankers to deliver crude from the Persian Gulf. SpaceX saw a significant surge in its first day of trading under the ticker SPCX. The Northeast Mississippi Daily Journal reported the stock opened at $150, an 11% premium over its $135 IPO price, and reached as high as $168.75. The company raised approximately $75 billion by selling more than 555 million shares, making it the largest IPO in history. While the Lufkin Daily News reported the debut gave the company a total value of $1.9 trillion, the Yakima Herald-Republic stated the value reached $2.1 trillion, and the Northeast Mississippi Daily Journal placed the value north of $1.75 trillion. The debut highlighted continued investor demand for artificial intelligence. SpaceX plans to expand its satellite communications and pivot toward AI, including developing microchips and “orbital AI compute infrastructure.” However, the company reported a net loss of $4.3 billion in the first quarter of this year. Critics and analysts have expressed concerns regarding the company’s valuation and the “frothy” nature of AI hype, noting that the company is not yet profitable. In other market activity, Adobe shares dropped between 6.8% and 7.5% despite beating profit and revenue expectations. CoreWeave shares rose between 5% and 8.1% following news of its upcoming inclusion in the Nasdaq 100. In the bond market, the 10-year Treasury yield rose to between 4.47% and 4.48%. Overseas, the Kospi jumped 4.6%, the Nikkei 225 rose 2.8%, and the CAC 40 climbed 1.8%.