US stocks rise before SpaceX IPO
U.S. stock indices rose as investors awaited the launch of SpaceX's initial public offering (IPO), with the company setting the share price at $135. This valuation boosts its market capitalization to $1.77 trillion, making it the largest IPO in history with a net raise of $75 billion. Meanwhile, markets are trading mixed; the S&P 500 increased by 0.2%, the Dow Jones gained 310 points, while the Nasdaq remained steady. The IPO is expected to boost shares of aerospace companies but also raises concerns about market volatility due to the large size of the offering, amid predictions that increased share supply could lead to greater market fluctuations given geopolitical tensions and upcoming elections.
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