SpaceX IPO live updates: Elon Musk's SpaceX stock soars in market debut as Dow, S&P 500, Nasdaq rise

SpaceX ( SPCX ) made its historic debut on Friday, as shares soared 19% to $160 on their first day of trading. Investors' expectations for the stock were sky-high going into the start of trading. Shares opened at $150 each.

The company, which aims to put AI data centers in space, priced its shares at $135 each, raising about $75 billion and giving it an anticipated market capitalization of $1.77 trillion. On paper, CEO Elon Musk became the world's first trillionaire.

Meanwhile, US stocks rose modestly as investors assessed reports that the US and Iran are closing in on an interim peace deal.

The Dow Jones Industrial Average ( ^DJI ) rose 0.7%, while the S&P 500 ( ^GSPC ) gained 0.5%. The tech-heavy Nasdaq Composite ( ^IXIC ) added 0.3% following a surge in Wall Street stocks on Thursday as President Trump called off threatened strikes on Iranian targets.

Markets weighed signs that the US and Iran are edging closer to sealing an agreement to reopen the Strait of Hormuz ahead of next week's G7 leaders' meeting. Oil prices extended losses , with Brent crude futures ( BZ=F ) tumbling more than 3%.

Also on Friday, the University of Michigan reported that US consumer sentiment rebounded from an all-time low reading of 44.8 in May to 48.9 at the start of June. One-year inflation expectations of 4.6% also came in below estimates.