Global markets: Stocks rise as SpaceX makes market debut; oil slides on Gulf peace hopes

Global stocks rose on Friday, buoyed primarily by SpaceX's blockbuster market debut which pushed its valuation past $2 trillion, while oil prices slid on hopes of a US-Iran deal to end their three-month conflict and reopen the Strait of Hormuz. The Dow gained 0.70%, S&P 500 rose 0.50%, and Nasdaq added 0.31%, while US crude dropped 3.23% to $84.88 a barrel. The European Central Bank raised rates for the first time in nearly three years amid war-driven inflation, and traders are now focused on next week's Federal Reserve meeting under new leadership of Kevin Warsh.