Stock Market Today, June 12: SpaceX Mega IPO Soars, Testing Tech Stocks at Midday

CAs of midday, the S&P 500 (SNPINDEX:^GSPC) rose 0.12% to 7,403.38, the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 0.36% to 25,716.64 as SpaceX’s (NASDAQ: SPCX) IPO kept risk appetite elevated in a volatile morning of trading. The IPO kept risk appetite elevated in a volatile morning of trading. The Dow Jones Industrial Average (DJINDICES:^DJI) climbed 0.38% to 51,040.07 as oil slid amid growing Iran peace deal hopes. Artificial intelligence (AI) infrastructure and cloud names had a volatile morning as the SpaceX IPO rocked the Nasdaq. At midday, the stock had surged almost 20% to $161.33 just hours after listing. Tech giants, Nvidia, Apple, Microsoft, and Broadcom all slipped as the mega-IPO pressured the market. The SpaceX IPO took center stage as the $75 billion offering entered the history books. Initial trading in the space-AI-communications firm showed strong demand, though some investors are skeptical that a loss-making company warrants such a high valuation. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool