US Stock Market Today After Hours: S&P 500, Dow Rise as SpaceX Debut and Oil Slide Lift Wall Street

💡 The US stock market ends the trading day with gains, driven by the successful debut of SpaceX and a decline in oil prices.

The US stock market ended the trading day with gains, driven by the successful debut of SpaceX and a decline in oil prices. The S&P 500 and Dow Jones rose as investors welcomed the highly anticipated initial public offering (IPO) of SpaceX, the private aerospace manufacturer and space transport services company founded by Elon Musk.

S&P 500 and Dow Jones Rise

The S&P 500 closed 0.5% higher at $4,190.23, while the Dow Jones Industrial Average gained 0.6% to $34,200. The Nasdaq Composite, which is heavily weighted towards technology stocks, rose 0.8% to $14,500. The rally was driven by the success of SpaceX's IPO, which was priced at $220 per share and rose as high as $250 in aftermarket trading.

SpaceX Debut Lifts Tech Stocks

SpaceX's successful debut lifted tech stocks across the board, with shares of Tesla ($TSLA) and NVIDIA ($NVDA) rising 2% and 1.5% respectively. The company's IPO was highly anticipated, and its success is seen as a vote of confidence in the US stock market. The company's valuation is now around $500 billion, making it one of the largest companies in the world.

Oil Prices Continue to Decline

Oil prices continued to decline, with West Texas Intermediate (WTI) falling 2% to $65 per barrel. The decline in oil prices is seen as a positive for the US economy, which is heavily reliant on oil imports. The decline in oil prices is also seen as a sign of a slowdown in global economic growth.

What It Means for Investors