04:21 PM EDT, 06/12/2026 (MT Newswires) -- (Updates with index/price moves, analyst comment, and other information from the first paragraph.)

US equity indexes rose amid growing expectations that the Iran interim peace deal is in the final stretch and an 19% surge in Space Exploration Technologies ( SPCX ) shares on its Nasdaq debut.

The Dow Jones Industrial Average rose 0.7% to 51,202.26, followed by a 0.5% increase in the S&P 500 to 7,431.46, and a 0.3% increase in the Nasdaq Composite to 25,888.84 on Friday. All sectors except consumer discretionary and healthcare advanced. Materials, financials, and utilities led the gainers.

Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying.

"With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."

Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.7% to $87.02 per barrel. The US West Texas Intermediate dropped 3.6% to $84.54 per barrel.

"Oil slumped after President Trump talked up another peace deal, with markets this time appearing increasingly willing to believe it may be for real, despite the lack of confirmation from Tehran," Saxo Bank said in a note. "Brent crude fell to a two-month low amid expectations of a surge in supply from tankers currently stranded in the Gulf."

In precious metals, gold futures jumped 2.7% to $4,226.8, while silver futures surged 5.9% to $67.77.

In company news, shares of Space Exploration Technologies ( SPCX ) or SpaceX closed at $160.95, 19.2% above its initial public offering price of $135, making Elon Musk the world's first trillionaire.

Adobe's (ADBE) Chief Financial Officer Dan Durn's departure and fiscal 2026 organic annual recurring revenue outlook have created more uncertainty for the company, outweighing its fiscal Q2 results, RBC Capital Markets said in a note. Shares dropped 6.8%, among the worst performers on the S&P 500 and the Nasdaq.

In economic news, the University of Michigan's preliminary consumer sentiment index rose to 48.9 in June from 44.8 in May, topping expectations of 46.0 in a Bloomberg-compiled survey. One-year inflation expectations fell to 4.6% from 4.8%, while five-year inflation expectations dropped to 3.4% from 3.9%.

"Even with June's early gains, however, views of the economy are still relatively dour," the University of Michigan said Friday in a statement. Consumers "feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run," the university said.

Most US Treasury yields rose, with the 10-year up two basis points to 4.49% and the two-year climbed 1.5 basis points to 4.09%.