CNBC Business News Update - Market Open: Stocks Mixed, SpaceX IPO Today, Oil Falls On Iran War Peace Deal Hope 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 mixed out of the gate this morning. Investors are hoping the war with Iran is almost over. Iran confirms the deal is close. The Dow up 249 points. Goldman Sachs leading the Dow higher shares are up 2% there. The S&P 500 index is barely in the green. It's up a point. The NASDAQ in the red. Down 89 points as some of the chipmaker shares are lower. Micron down almost three. Broadcom down one and a half percent. InVIDIA shares down about a half a percent. Elon Musk's Space Company SpaceX set to issue shares to the public for the first time today with a raging debate over whether people should try to buy at the open or wait for things to settle a bit. Experts tell CNBC to expect possible extreme moves and high volatility. A lot of people are comparing SpaceX to Facebook when it went public back in May of 2012. CNBC's David Faber and Melissa Lee. The dynamic of the frenzy after it opens the ETFs, they're going to start trading on Monday, so there's a certain degree of ramp. And also foreign investors have been

largely excluded from allocations. China, for instance, Japan, after the action, and that sort of creates its own frenzy. It'll be really interesting to see. We were both there, David, when Facebook opened, and it was sort of a broken IPO, and it didn't trade above the IPO price again for a year. I'm not trying to draw any parents. I'm just saying, you know, there's a technological aspect to this as well. No doubt. There is. And that one was obviously a fail when it came to that. And here's Tenacity Ventures Ben Narrison on CNBC. This IPO basically rhymes with Facebook's.

You know, Facebook had a visionary leader that everybody wanted to bank who insisted on a price. At that point, it was $100 billion. Elon's done the same thing. The opening was delayed pretty significantly, and I suspect this one will be as well as market makers tried to match. that offering did not do well for quite a while. It did come back. Look, I am a long-term buyer of SpaceX. I think it's going to be a phenomenal company. But there are so many systematic issues right now that I think are going to put pressure on this stock. Elon Musk is in New York for the debut of his company.

His mom's also there. Crowds are outside the NASDAQ market site in Times Square. Musk could become the first human trillionaire today. You keep it locked to CNBC Television and CNBC.com for the absolute latest. on the SpaceX initial public offering today. U.S. crude oil back to where it was in mid-April. Around $84 a barrel, as traders bet that the Strait of Hormuz will open again at some point,

which would put nearly 20% of the global oil supply back in action. President Trump said that the U.S. made a great settlement of the war with Iran, subject to the finalization of documents. Iranian state media this morning said a draft of the peace plan includes a commitment from Tehran, to reopen the Strait of Hormuz within 30 days, WTI down about $9 from yesterday's high. CNBC's PIPA Stevens. The pullback in oil prices is helping airline and cruise line shares today. Adobe shares were lower on disappointing quarterly results.

New in theaters tonight Universal's Disclosure Day and Lionsgate's crime thriller The Furious. Jessica Eddinger, CNBC.