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Wall Street ends higher as SpaceX's market debut dominates
Reuters Videos65d agoneutralVIDEO
Wall Street ends higher as SpaceX's market debut dominates

<body><p>STORY: Wall Street's main indexes ended higher on Friday, as SpaceX shares surged in their debut, making it Wall Street's biggest public listing in history.</p><p>The Dow jumped seven-tenths of a percent, the S&P 500 added half a percent and the Nasdaq gained just under a third of a percent.</p><p>:: SpaceX</p><p>Investors were glued to the trajectory of SpaceX shares, which began trading on the Nasdaq on Friday. The stock soared more than 19%, closing well above the IPO price of $135. That put the rocket maker's market cap at over $2 trillion, and made CEO Elon Musk the world's first trillionaire.</p><p>Alexander Morris is CEO and chief investment officer at F/m Investments.</p><p>"What is a trillion? If you think of a million being a lot, there's another million of those. There's 1000 billions that you should put together when you start to think of just how crazy big this number is. [FLASH] And by the way, it's probably going to keep going up from here. So he's the world's first trillionaire. He might be the first multi-trillionaire at some level, which seems not unfathomable. Maybe somewhat embarrassingly though, and I'm certain this won't be lost on Elon, SpaceX came out and it's worth more than Tesla today."</p><p>Shares of Tesla also gained, nudging up by nearly 2%.</p><p>:: SpaceX</p><p>Meanwhile, shares of other space stocks, which had soared in the lead-up to SpaceX's debut, eased on Friday. Rocket Lab's stock fell nearly 11%, while Intuitive Machines shed more than 13% and Planet Labs declined nearly 9%.</p><p>Elsewhere in the market, shares of Adobe slid almost 7% after the exit of the software maker's CFO.</p></body>

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SpaceX closes nearly 20% higher on first trading day post-IPO
Yahoo Finance Video65d agoneutralVIDEO
SpaceX closes nearly 20% higher on first trading day post-IPO

US stocks (^DJI, ^IXIC, ^GSPC) inch higher to end Friday's session and the trading week with slight gains, as SpaceX (SPCX) closes its first day of trading 19.22% higher at a share price of $160.95. From the Nasdaq, Yahoo Finance Senior Reporter Brooke DiPalma breaks down the post-IPO performance Elon Musk's space company.

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