US stocks made a positive start to trading on Friday, although enthusiasm was more muted within the technology sector as investors focused on the highly anticipated debut of SpaceX.
The Dow Jones Industrial Average gained 300 points, or 0.59%, at the opening bell to reach 51,148.73, while the broader S&P 500 edged 0.22% higher.
In contrast, the tech-heavy Nasdaq Composite slipped 0.1%, suggesting some caution among investors despite the recent rally that has lifted major US indices to record territory.
However, market attention remains firmly fixed on SpaceX, whose historic $75 billion IPO has become the largest public offering ever completed.
Investors are now waiting for the first trade in the Elon Musk-led aerospace giant, which enters the market with a valuation of $1.77 trillion, making it one of the most valuable companies in the world.
Given the extraordinary demand seen during the IPO process, the opening price and initial trading activity are expected to provide an important indication of investor appetite for one of the most closely watched stock market debuts in modern history.
While broader market moves remain relatively modest, SpaceX’s first day of trading has the potential to dominate sentiment across both the technology sector and the wider US market.
