Dow futures rise 300 points: 5 things to know before Wall Street opens

• Oil prices dropped below $90 after Trump indicated a potential US-Iran peace agreement could be signed this weekend, easing inflation concerns and delaying Fed rate-hike expectations to December from October
• SpaceX is set to begin trading on Nasdaq under ticker SPCX with a valuation of $1.75-1.77 trillion, immediately becoming one of the most valuable US companies and lifting space-sector stocks like Rocket Lab (+7%) in premarket
• Adobe fell over 5% in premarket trading after CFO Dan Durn announced his departure, overshadowing an improved annual forecast and highlighting investor sensitivity to leadership changes in software companies

Market Summary: Dow Futures Rise on SpaceX IPO and Middle East Deal Hopes

Key Market Movements:

US stock futures opened higher Friday, with Dow futures up 300 points (+0.6%), while S&P 500 and Nasdaq-100 futures each gained 0.6%. The rally was driven by improved risk sentiment surrounding geopolitical developments and a major IPO.

Primary Catalysts:

*Oil Retreat:* Crude prices fell below $90 per barrel following President Trump's comments about a potential US-Iran peace agreement that could reopen the Strait of Hormuz. The decline eased inflation concerns and pushed Federal Reserve rate hike expectations from October to December, providing relief for equities.

*SpaceX IPO:* The company's highly anticipated Nasdaq debut under ticker SPCX dominated market attention, with a valuation between $1.75-1.77 trillion, making it one of the most valuable US listed companies immediately upon trading.

Sector Impact:

The space sector rallied in premarket trading, with Rocket Lab and Intuitive Machines each rising approximately 7%, and Planet Labs gaining nearly 4%. Airlines also advanced, with Alaska Air and Delta benefiting from lower fuel costs improving margin outlooks.

Notable Movers:

Adobe fell over 5% in premarket trading after CFO Dan Durn announced his planned departure, overshadowing the company's improved annual forecast. The decline highlights ongoing sensitivity to executive changes and AI strategy concerns in the software sector.

Risk Factors:

Market fragility remains as Iran has not finalized any agreement, and concerns persist that the record SpaceX listing may absorb liquidity from other market segments. Any reversal in peace talks could trigger renewed volatility.