CNBC Business News Update - Market Midday: Stocks Higher, SpaceX Debuts On Wall Street, Iran War Deal May Be Close 6/12/26

Episode Date: June 12, 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 Eddinger, CNBC. Wall Street now all in the green this afternoon. Investors parsing out whether the Iran war might really be close to being over, but SpaceX taking everyone's attention, debuting on Wall Street at $150 a share. Starting with the major averages, the Dow up 430 points, building on the 900. It added yesterday. It's being led higher by shares of Goldman Sachs now. They're up 3% this afternoon. The S&P 500 index up 44, the NASDAQ, up 126 points. Both the S&P and the NASDAQ up about a half percent. Cheers on the Morgan Stanley trading floor as SpaceX has become the world's biggest initial public offering for stock. CNBC's Sima Modi is there.

Getting ready close. Let's listen in. Let's listen in. It says 150. This is an IPO that raised $75 billion. Again, the price that it priced out. was 135. It's open for trade at 150. A lot of energy in the room. You can tell that there is applause, excitement, hugs, smiles. I mean, there are a lot of employees who started here day one in 2002. And so they've been waiting for this moment. I spoke to two engineers here who said their compensation package was 100% equity. They didn't even have any salary. So for them,

this is the moment. They actually get to make it big. SpaceX, ticker symbol SPCX, open for trading at 1146 a.m. Eastern time today. After about 90 minutes, it was up 25% trading at $171 a share. Elon Musk becoming the first human trillionaire. His total net worth as we have it right now is over $1.1 trillion. So Elon Musk is worth more than the next five richest billionaires in the world combined. His personal fortune is larger than the GDPs of Sweden, Ireland or Taiwan. CNBC's wealth reporter Robert Frank. SpaceX president and CEO, Gwen Shotwell spoke with CNBC. Just before the debut today, she sees a long-term plan. We are builders. We build our own launch vehicles. We build our launch sites. And we're building

data centers both on the ground as well as in orbit soon. So I look at ourselves as an infrastructure company. Keep it locked to CNBC TV and CNBC.com for the latest on the SpaceX initial public offering. On the war with Iran, CNBC's Amen Javriss has the latest there. We've got a new statement now on social media from the Iranian foreign minister Saeed Aragachi who says the Islamabad memorandum of understanding has never been closer pending its finalization. The media should refrain

from entering speculation about its content. What is in this deal? And what does that mean for global oil markets? Obviously watching this very closely. We have a statement from Vice President J.D. on social media, and he is also urging people to hold off. Clearly something is happening behind the scenes. What's in this deal? We don't know. How soon that means the straight of four moves might reopen?

We don't know. CNBC's Aymn Javers in Washington. Jessica Eddinger, CNBC.