CNBC Business News Update - Market Close: Stocks Soar As Trump Touts Iran Deal Is Close, Dow Up 900 Points, Nasdaq Up 600 Points, All Eyes On SpaceX IPO Friday 6/11/26

Episode Date: June 11, 2026

CNBC Business News Update with Jessica Ettinger - market numbers and news featuring CNBC expert analysis and sound from top business names. Visit https://www.cnbc.com/ for more. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Ettinger. CNBC, Wall Street opens Friday morning. After a Thursday rally that saw the Dow shoot up a thousand points as President Trump said a U.S. Iran deal is near. Oil made a big move lower. Investors can focus on SpaceX, which will be the biggest initial public offering ever. The Dow was up 929 points at the close. 1.8 percent. Honeywell shares led it higher. They were up almost 6.5 percent. The S&P 500 index up 127 points. That was 1 and 3 quarters percent. The NASDAQ soared up 640 points, 2.5 percent. Shears of micron technology up almost 12 percent chipmakers all higher. President Trump said this on Thursday afternoon.

We just made a great settlement of the war with the rent. And we're going to be subject to finalization of documents. We should get done over the next few days. We probably have a signing maybe in Europe. And it's a great thing. Stock markets up 1,000 points. But CNBC's Megan Casella in Washington said the deal may not really be done. Markets have been celebrating President Trump's announcement

that he'd be postponing strikes against Iran. He was saying because we were moving towards a final agreement with Iran. But now both Israel and Iran, there are reports coming out of both places that they are not recognizing that any agreement has been reached. Investors' attention turning to SpaceX, set to become the biggest IPO, initial public offering in Wall Street history on Friday. Buckle up for possible extreme moves and high volatility.

This all depends on who receives allocation and whether or not they plan to hold on to it in the next few weeks. Either way, we're likely in for a pretty volatile ride. At the index level of those that have taken it in, yes? Yeah, both. I mean, if SpaceX is volatile, because it will be in these various indexes, you could see that volatility in the indexes as well. I have seen reporting that brings up Facebook's first day, which we all remember was difficult.

The hope is that we don't go there. I mean, this is a really, really big deal. You know, for example, Alibaba, the largest IPO ever listed in the U.S. is just a third of the size of this debut tomorrow. So we've never seen anything like this at scale. CNBC's Leslie Picker and Carl Keentennaia, CNBC's exclusive interview with the SpaceX, C.O. and president, Gwyn Schottwell, starts at 5. 5 a.m. Eastern from the company's Texas headquarters on CNBC television, coverage also at

CNBC.com. This is 8VC founder and Palantir co-founder Joe Lonsdale on CNBC. I think it's really smart that they're giving it to a bunch of retail as well. I think this is a industrial revolution that everyone in our country is a part of. This is going to be strong IPO. Other investors aren't interested in SpaceX yet. Most ask question, what should I do? Should I buy it? It is priced like Buzz Lightyear. It's in 100 times earnings. And I think this is more of the time in this situation and in this universe to think more like the character Woody than Buzz Lightyear. And be patient and wait for the hype to come out.

Mariner Welts, Jeff Crumpleman on CNBC. And here's Smead investors, Cole Smead on CNBC. IPOs in general are kind of like playing a lottery ticket. Many will play. Few will win. On Friday's watch list, aside from the IPO of Space. sex, we get a fresh read on consumer sentiment. Jessica Eddinger, CNBC.