US pre-open: Futures higher as traders eye Middle East tensions, SpaceX IPO

12th Jun 2026 10:34

(Sharecast News) - Wall Street future were in the green ahead of the open on Friday as traders turned their attention to Middle East developments and SpaceX's landmark initial public offering.

As of 1245 BST, Dow Jones futures were up 0.52%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.38% and 0.30% firmer, respectively.

The Dow closed 929.97 points higher on Thursday as chipmakers staged a rebound and oil prices eased, even after the US carried out further strikes against Iran overnight.

Equities rallied on Thursday after chip stocks bounced back and Donald Trump suggested the US and Iran were close to finalising a peace agreement, telling reporters the two sides were "pretty close" to a signing and that the documents were in "final shape", adding that any deal would ensure Iran "will never have a nuclear weapon". Markets had already been buoyed earlier in the day after Trump said he had called off planned strikes on Iran.

Trump repeated his view that an agreement could be reached "over the next few days" and said the Strait of Hormuz would reopen once a deal was sealed. However, Tehran pushed back, with state‑affiliated outlet Fars reporting that Iran had not approved any draft text for an initial memorandum of understanding.

Despite Iran's denial, oil prices slipped on the news, with West Texas Intermediate down 2.06% at $85.90 a barell, while international benchmark Brent crude was 2.22% lower at $88.37 a barell.

Going into the session, Friday's primary focus was set to be news that SpaceX had raised $75bn in a record‑setting IPO, catapulting Elon Musk's rocket, satellite and artificial intelligence group into the upper tier of US‑listed companies amid surging investor demand.

SpaceX priced 555.6m shares at $135 ahead of trading on Friday, with the deal potentially climb to $86bn if banks exercise an additional greenshoe allocation, implying a valuation of $1.78trn. It also sets the tone for potential listings from Anthropic and OpenAI later this year.

No major corporate earnings were scheduled for publication on Friday.

On the macro front, a preliminary reading of the University of Michigan's consumer sentiment index was slated for release at 1500 BST.

Reporting by Iain Gilbert at Sharecast.com