Stocks drift as oil falls and Wall Street waits for SpaceX's debut

Stocks drift as oil falls and Wall Street awaits SpaceX's debut. The S&P 500 rose 0.6%, the Dow gained about 480 points (1%), and the Nasdaq added 0.4% by mid-morning. Brent crude slid 3.1% to $87.58 a barrel, easing inflation pressures as markets weigh the potential for a geopolitical pause following Trump’s remarks about Iran. SpaceX’s Nasdaq debut is expected later today, underscoring investor appetite for AI-related offerings. If SpaceX trades at the offer price, its market value could reach about $1.77 trillion, placing it near Broadcom and Meta. Adobe dropped 6.5% after stronger results but announced a CFO departure, and Tesla’s moves remained in focus as tech stocks remained volatile. Treasuries edged higher after a volatile sell-off the day before.