SPCX Surges 55% Post-IPO as Futures Stay Muted on Iran Deal

On Tuesday, stock futures remained muted while oil prices drifted lower as investors awaited further details on the U.S.-Iran preliminary peace agreement. The prior day, futures had risen sharply and crude fell after news of the deal aimed at reopening the Strait of Hormuz. SPCX shares extended gains, trading 55% above their offering price amid continued enthusiasm for SpaceX’s long-term revenue outlook. Selective movers included Qualcomm advancing on its pipeline of over 40 AI-powered consumer devices, while Dave & Buster’s and Adaptive Biotechnologies declined after weak earnings and restructuring news.