Dow, S&P 500, Nasdaq futures slip ahead of landmark SpaceX IPO
US stock futures edged lower as Wall Street prepared for SpaceX’s market debut and weighed easing geopolitical tensions between the United States and Iran.
Futures linked to the Dow Jones Industrial Average (YM=F) held steady. Contracts on the S&P 500 (ES=F) slipped 0.1%, while Nasdaq 100 futures (NQ=F) fell 0.3%, News.Az reports, citing Yahoo Finance.
SpaceX (SPCX) is set to begin trading on Friday, with expectations that it will become the largest initial public offering (IPO) in history.
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The company priced its shares at $135, raising approximately $75 billion and valuing it at an estimated $1.78 trillion. Investor expectations for the stock remain extremely high, and any result short of a strong first-day gain is expected to draw scrutiny.
Later on Friday, investors will also receive the University of Michigan’s report on US consumer sentiment and inflation expectations. The headline consumer sentiment index dropped to an all-time low of 44.8 in May.
Meanwhile, a sharp easing of tensions between the United States and Iran supported markets on Thursday. President Donald Trump reportedly stepped back from plans to carry out a third strike on Iran this week and later indicated that a peace deal could be imminent.
By Nijat Babayev
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