* Futures up: Dow 0.59%, S&P 500 0.48%, Nasdaq 0.44%

* Adobe drops after exit of CFO Dan Durn

* Space stocks, funds holding SpaceX shares rise ahead of

debut

(Updates with prices, analyst comment)

By Johann M Cherian and Twesha Dikshit

June 12 (Reuters) - U.S. stock index futures rose on Friday,

buoyed by expectations for an imminent end to the Middle East

conflict, while investors geared up for the market debut of Elon

Musk's SpaceX, which is estimated to be Wall Street's biggest

public listing in history.

U.S. President Donald Trump's comments on Thursday, which

suggested that a deal to end the Middle East conflict and reopen

the crucial Strait of Hormuz could be signed as early as this

weekend, lifted sentiment globally, even as Tehran said that a

final decision was pending.

SpaceX is expected to start trading on the Nasdaq for the

first time later in the day and is likely to be immediately

ranked as the seventh biggest publicly listed U.S. company, with

a potential valuation of $1.75 trillion.

"I think there will be initial hyper-enthusiasm as investors

believe strongly in the future of SpaceX, but also anticipate it

being added to some indices. Depending on how big the initial

reaction is, the aftermath may be a sharp drop," said Melissa

Brown, managing director of investment decision research at

SimCorp.

"Overall, given the nature of the company, volatility is

likely to be high."

Besides, only about 3%-4% of SpaceX's shares are

expected to be available for trading.

The conglomerate, which also includes Starlink and xAI, has

already defied some Wall Street conventions. Index providers

such as Nasdaq and FTSE Russell have tweaked their entry

requirements for its inclusion, while the company also set its

stock price at $135, reflecting Musk's sway over the IPO.

Some analysts have, however, voiced caution over the

fundamentals of the company, which posted more than $4 billion

in annual losses last year.

"Its technology and AI-related businesses are still

operating at a loss. We need to see how these segments evolve

before we can assess their long-term profitability," said Ismael

Garcia Puente, deputy director of investment strategy at MAPFRE

AM.

Shares of other space stocks have soared in the lead-up to

the debut and were also up in premarket trading.

Rocket Lab ( RKLB ) added 5%, Intuitive Machines ( LUNR )

rose 0.6% and Planet Labs added 1.7%, while funds holding

shares of SpaceX such as Fundrise Innovation Fund rose

6.3%, while Destiny Tech100 ( DXYZ ) soared 4.8%.

At 07:14 a.m. ET, Dow E-minis were up 299 points, or

0.59%, S&P 500 E-minis were up 35.25 points, or 0.48%,

and Nasdaq 100 E-minis were up 129.5 points, or 0.44%.

The three main U.S. stock indexes are set for a muted end to

the week, much of which was marked by uncertainty surrounding

the Iran conflict and concerns that a rally in AI stocks has

gone too far.

The S&P 500 is down nearly 3% from its last record high, and

earlier this week the technology index confirmed a

correction. Analysts believe some of the weakness in U.S. stocks

and bitcoin could be due to traders trimming holdings ahead of

SpaceX's debut.

Data earlier this week showed inflation pressures were

mounting, driven by elevated energy costs stemming from the

Mideast conflict.

Oil prices slid below $90 a barrel following Trump's remarks

and traders pushed their expectations for an interest rate hike

by the Federal Reserve to December from October earlier this

week, the CME Group's FedWatch tool showed.

Adobe slid 6.4% after the exit of CFO Dan Durn.