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Optimism from SpaceX IPO and Middle East Situation Boosts US Stock Index Futures

On June 12, Friday, US stock index futures rose ahead of the market opening, primarily driven by optimism surrounding SpaceX's upcoming public listing. Additionally, expectations of a potential temporary peace agreement regarding the Iran conflict also lifted market sentiment. Nasdaq announced that SpaceX will list at 9:50 AM Eastern Time and begin trading at 10:00 AM. Pre-IPO derivatives trading indicates that, as retail investors flock to the stock, its price is expected to rise between 30% and 50%. Todd Sohn, Chief ETF Strategist at Strategas Securities, stated that stock index futures are increasing due to a 'mix of factors, including softening oil prices, the SpaceX hype, and the market still being built on strong earnings fundamentals.' Regarding SpaceX, he noted that 'demand has clearly surged to a peak.'

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