Market Rebounds Amid Geopolitical Tensions and SpaceX IPO Launch

U.S. stocks surged on Thursday following President Trump's decision to cancel planned strikes against Iran and ahead of SpaceX's market debut. The cessation provided relief from recent inflationary tensions, making way for major gains in indexes and marking SpaceX's IPO as the largest in history.

On Thursday, U.S. stocks rose sharply, buoyed by news that President Donald Trump had canceled planned military strikes against Iran, easing tensions that had roiled markets. The announcement came on the eve of the much-anticipated market debut of Elon Musk's SpaceX.

The major indexes recorded their largest single-day percentage increases since April, with significant rebounds seen especially in chipmaker stocks, lifting the S&P 500. Trump's remarks suggested a possible peace deal with Iran could be reached as soon as the weekend, potentially reopening shipping lanes through the Strait of Hormuz.

Meanwhile, SpaceX's initial public offering set records, pricing shares at $135 each and raising $75 billion in the largest-ever U.S. IPO. Despite these advances, some stocks like Oracle saw declines, and inflation concerns persisted with May seeing larger-than-expected producer price increases. The Federal Reserve is expected to maintain interest rates for now.