--- title: "Stock Market Today: SpaceX Jumps To $175, Rocks Space Rivals" type: "News" locale: "en" url: "https://longbridge.com/en/news/289626801.md" description: "SpaceX shares surged to $175 upon its record-breaking IPO, triggering a sharp sell-off among space and satellite peers like AST SpaceMobile and Rocket Lab. Meanwhile, oil prices slid on US-Iran deal hopes, boosting the energy sector. The broader market saw mixed results: the Dow and S&P 500 rose slightly, while the Nasdaq dipped. Adobe and RH fell due to earnings disappointments, whereas Intel rallied on an upgrade." datetime: "2026-06-12T17:12:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289626801.md) - [en](https://longbridge.com/en/news/289626801.md) - [zh-HK](https://longbridge.com/zh-HK/news/289626801.md) --- # Stock Market Today: SpaceX Jumps To $175, Rocks Space Rivals Shares of **Space Exploration Technologies Corp. (NASDAQ:SPCX)** rallied to $175 by midday trading Friday, as the stock debuted on the Nasdaq as the world’s biggest IPO ever. The roughly $75 billion offering at a $1.75 trillion valuation priced at $135 per share, and the **Elon Musk**\-led company wasted no time leaving that mark behind, swinging between roughly $150 and $168 before pushing higher to $175 by midday a gain of about 30% from its listing price. **Chart: SPCX Price Action After IPO** The record listing rocked the rest of the space complex, as investors rotated capital toward the sector’s new heavyweight and reassessed the competitive landscape. **AST SpaceMobile Inc. (NASDAQ:ASTS)** plunged 14.6% – the worst showing in the Russell 1000 – while **Rocket Lab Corporation (NASDAQ:RKLB)** tumbled 10.1% as traders booked profits on a name that had run up sharply ahead of the listing. The pain ran deeper among the smaller players. **Firefly Aerospace Inc. (NASDAQ:FLY)** sank 17%, **Velo3D Inc. (NYSE:VELO)** – a SpaceX parts supplier often traded as a proxy – fell 16%, **EchoStar Corporation (NASDAQ:SATS)** dropped 15%, and **Voyager Technologies Inc. (NYSE:VOYG)** slid 13%.  **Read Also: Space ETFs Plunge As SpaceX Debuts In Record IPO: Expert Explains The Sell-Off** Away from the space frenzy, the broader market traded on geopolitics. President **Donald Trump** cast fresh doubt on a U.S.-Iran agreement Friday morning, writing on Truth Social that “the terms that Iran leaked out have nothing to do with the terms that were agreed to, in writing.” Despite this, markets continue to believe a deal will be soon reached. WTI crude fell 3.4% to around $84.71 a barrel, extending a brutal stretch that has knocked roughly 16% off the contract this month as the war premium drains out of oil.  The S&P 500 added 0.2% to 7,408, while the Dow Jones Industrial Average outperformed with a 0.5% gain, advancing 249 points to 51,097. The Nasdaq 100 was the laggard, slipping a fraction to 29,432. The small-cap Russell 2000 was the day’s standout, rising 0.8% to 2,942. ## Friday’s Performance In Major US Indices Index Last % Change S&P 500 7,408.22 +0.2% Dow Jones 51,097 +0.5% Nasdaq 100 29,432 \-0.1% Russell 2000 2,942.12 +0.8% _Updated by 1:15 PM ET_ According to the Benzinga Pro platform: - The **Vanguard S&P 500 ETF (NYSE:VOO)** gained 0.5%. - The **SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)** rose 0.5%. - The **Invesco QQQ Trust (NASDAQ:QQQ)** edged down 0.1%. - The **iShares Russell 2000 ETF (NYSE:IWM)** rallied 0.8%. ## Chips And Materials Lead As Earnings Losers Pile Up The **Materials Select Sector SPDR Fund** (NYSE:XLB) led all sectors with a 1.8% gain, followed by the **Energy Select Sector SPDR Fund** (NYSE:XLE) and the **Financial Select Sector SPDR Fund** (NYSE:XLF), each up more than 1.3%. The **Consumer Discretionary Select Sector SPDR Fund** (NYSE:XLY) was the weakest, down 1.0% as megacap retail and autos lagged. Lower crude lifted travel, sending the **U.S. Global Jets ETF** (NYSE:JETS) up 1.7%, while the **VanEck Gold Miners ETF** (NYSE:GDX) rose 2.8%. Materials names rounded out the gainers. **Albemarle Corporation (NYSE:ALB)** surged 7.3% as lithium prices rebounded and Citi reiterated a bullish view on the sector, arguing the worst of the lithium-price selloff is over. **Intel Corporation (NASDAQ:INTC)** jumped 6.2%, rallying for the second session after Bank of America double-upgraded the stock to Buy from Underperform. Earnings disappointments dominated the downside. **Adobe Inc. (NASDAQ:ADBE)** fell 6.7% even after posting fiscal Q2 revenue of $6.62 billion and EPS of $5.96 that topped the $5.81 consensus and raising full-year guidance; investors keyed instead on the abrupt exit of CFO Dan Durn, a second top-level vacancy alongside the ongoing CEO search.  **RH (NYSE:RH)** dropped 6.9% in the wake of its first-quarter report released after Thursday’s close, with the print and tariff commentary disappointing the Street. Housing stayed heavy, with **Lennar Corporation (NYSE:LEN)** down 4.8%. **Reddit Inc. (NYSE:RDDT)** slid 6.8%, extending a months-long downtrend amid a steady drumbeat of analyst price-target cuts – including a recent Phillip Securities downgrade to Accumulate with a $200 target – and persistent worries over valuation and competition. ## Friday’s Russell 1000 Top Gainers Name % change **Albemarle Corporation** +7.28% **Coherent Corp. (NYSE:COHR)**  +7.24% **The Mosaic Company** +7.13% **Amkor Technology Inc. (NASDAQ:AMKR)** +6.37% **Intel Corporation** +6.20% ## Friday’s Russell 1000 Top Losers Name % change **AST SpaceMobile, Inc.** \-14.57% **Rocket Lab Corporation** \-10.05% **RH** \-6.91% **Reddit, Inc.** \-6.77% **Adobe Inc.** \-6.67% **Read Also: Oracle Stock Suffers Worst Week Since 2002: Should You Buy This Dip?**  _Image: Shutterstock_ ### Related Stocks - [RH.US](https://longbridge.com/en/quote/RH.US.md) - [04335.HK](https://longbridge.com/en/quote/04335.HK.md) - [ADBE.US](https://longbridge.com/en/quote/ADBE.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [PL.US](https://longbridge.com/en/quote/PL.US.md) - [ASTS.US](https://longbridge.com/en/quote/ASTS.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [RKLB.US](https://longbridge.com/en/quote/RKLB.US.md) - [DXYZ.US](https://longbridge.com/en/quote/DXYZ.US.md) - [VCX.US](https://longbridge.com/en/quote/VCX.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [SATS.US](https://longbridge.com/en/quote/SATS.US.md) - [ASTX.US](https://longbridge.com/en/quote/ASTX.US.md) - [ADBG.US](https://longbridge.com/en/quote/ADBG.US.md) - [INTW.US](https://longbridge.com/en/quote/INTW.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [RKLX.US](https://longbridge.com/en/quote/RKLX.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [XAR.US](https://longbridge.com/en/quote/XAR.US.md) - [159227.CN](https://longbridge.com/en/quote/159227.CN.md) - [PPA.US](https://longbridge.com/en/quote/PPA.US.md) - [ITA.US](https://longbridge.com/en/quote/ITA.US.md) - [563380.CN](https://longbridge.com/en/quote/563380.CN.md) - [ONEQ.US](https://longbridge.com/en/quote/ONEQ.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [QQQE.US](https://longbridge.com/en/quote/QQQE.US.md) - [ADBU.US](https://longbridge.com/en/quote/ADBU.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [512810.CN](https://longbridge.com/en/quote/512810.CN.md) - [ARKX.US](https://longbridge.com/en/quote/ARKX.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [DIA.US](https://longbridge.com/en/quote/DIA.US.md) - [DDM.US](https://longbridge.com/en/quote/DDM.US.md) - [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md) - [DOG.US](https://longbridge.com/en/quote/DOG.US.md) - [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) ## Related News & Research - [EXPLAINER-Why SpaceX faces a longer wait to join S&P 500](https://longbridge.com/en/news/289043986.md) - [Why Rocket Lab stock plummeted today](https://longbridge.com/en/news/289645302.md) - [SpaceX IPO is said to be over two times oversubscribed already](https://longbridge.com/en/news/288937244.md) - [SpaceX opens at $150, an 11% pop for the most anticipated debut in history](https://longbridge.com/en/news/289620017.md) - [SpaceX opens at $150 per share.](https://longbridge.com/en/news/289619238.md)