The highly-anticipated SpaceX initial public offering (IPO) is dominating Wall Street's attention today, set to open at $162, according to the latest indications. Space-related stocks such as Rocket Lab (RKLB) and AST SpaceMobile (ASTS) reversed their premarket gains, all sharply lower as investors turn their attention toward the debut.
The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are both up triple digits on optimism surrounding a U.S.-Iran peace deal, while the S&P 500 Index (SPX) sits comfortably higher as well. All three benchmarks on track for weekly gains.
TMC the metals company Inc (TMC), formerly known as DeepGreen Metals, is attracting attention from options bulls today. So far, 42,000 calls have been exchanged, six times the intraday average volume, in comparison to just 1,592 puts. The June 6 call is the most popular, with new positions being bought to open here. The stock has been in focus amid regulatory milestones in deep-sea mining and high critical mineral demand. At last look, TMC was up 12.5% at $5.77, though down 9.4% in 2026.
Arm Holdings PLC (ARM) stock is outperforming on the Nasdaq today, up 10.8% at $379.12 and extending last session's 11.3% pop. Investors are optimistic after the recent launch of the Arm AGI CPU, as well as price-target hikes from Bank of America and Mizuho this week. Moving back up toward its June 2 record high of $427.99, ARM is up 242.3% year to date.
Adobe Inc (ADBE) stock is near the bottom of the Nasdaq once again, down 6.7% at $204.08, brushing off better-than-expected fiscal second-quarter earnings and revenue after news that CFO Dan Dunn is departing June 15. Several analysts cut their price targets as well, including UBS to $225 from $260. ADBE is hitting eight-year lows today, on track for its sixth-straight loss. Since the start of the year, the equity is down 42%.
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