SpaceX, the private space corporations led by Elon Musk, jumped nearly 20% on its first day on the Nasdaq, and all three major U.S. stock indexes in New York closed higher.
On the 12th, at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed up 0.7% at 51,202.26. The Standard & Poor's (S&P 500) index rose 0.5% to 7,431.46, and the Nasdaq composite finished up 0.31% at 25,888.84.
Leading the market higher was SpaceX, which debuted that day. SpaceX is a private space corporations where Tesla Chief Executive Officer (CEO) Elon Musk is the founder, largest shareholder and CEO.
SpaceX began transactions at $150 per share. It climbed to $176.52 intraday before edging lower, and finished transactions at $161.11, up 19% from its $135 offering price.
At the close, SpaceX's market capitalization reached $2.11 trillion. That corresponds to No. 6 by market cap in the Standard & Poor's (S&P 500). However, SpaceX does not yet meet the requirements and cannot be added to the S&P 500 index for at least a year.
As SpaceX drew attention, other tech stocks fell. Apple, Amazon, Meta and Micron Technology slipped around 1%.
Shares of existing space-technology-related companies also fell. Rocket Lab slid more than 10%, Redwire dropped 11.53%, and EchoStar Corp. fell 10.97%.
By sector, all sectors rose except health care. Utilities, materials and financials gained more than 1%. Goldman Sachs rose 2.62%, and JPMorgan gained 2.31%. The Philadelphia Semiconductor Index climbed 1.52%, showing a modest uptrend.