Asian Markets Surge Amid Hopes for Middle East Peace Deal; All Eyes on SpaceX's Historic IPO

Asian stocks continued to rise on hopes of a Middle East peace deal, while U.S. markets anticipate Elon Musk's SpaceX IPO, which raised a record $75 billion. Meanwhile, oil prices dropped amid peace deal prospects and potential inflation impacts. European and Wall Street futures also saw significant gains.

Asian stocks extended a global rally on Friday as hopes grew for a potential Middle East peace deal, causing the dollar and bond yields to dip, while oil prices hit two-month lows, easing inflation concerns.

European markets are set to open sharply higher, with futures across the pan-region climbing 1.8%. Wall Street futures edged up by about 0.2%, continuing a robust rally from the previous night. Attention is focused on the highly anticipated debut of Elon Musk's SpaceX, which has set records with the largest-ever initial public offering, raising $75 billion and valuing the company at $1.77 trillion.

U.S. President Donald Trump announced a peace deal could be imminent, signaling advanced negotiations with Iran, despite Iran's insistence that no final agreement has been reached. Nonetheless, the perceived progress in talks has helped drive global market optimism, as investors watch for further developments.