STOCKS | US Stocks Drift as Oil Falls; SpaceX Set for Nasdaq Debut

US stocks were mixed on Friday as oil prices fell again and investors awaited SpaceX’s highly anticipated market debut later in the day. According to RTHK, the S&P 500 rose 0.1%, the Dow Jones Industrial Average gained 270 points, or 0.5%, and the Nasdaq Composite slipped 0.1% as of 9:35 a.m. Eastern time. Brent crude fell 2.2% to $88.36 a barrel, extending weekly losses after U.S. President Donald Trump called off a threat to launch strikes on Iran and said a potential deal with Iran may be imminent. AI-related stocks were volatile, with Micron Technology down 2% and Broadcom off 0.8%, amid expectations some investors may be reallocating ahead of SpaceX and other large AI-related IPOs. SpaceX is set to begin trading on the Nasdaq for the first time later in the day, though the exact start time was not known. The report said Elon Musk’s rocket company had built up $29.1 billion in debt as of the end of March, partly tied to investments in AI, and that if shares hold at the offering price, SpaceX would have a market value of $1.77 trillion.