Tel Aviv Stocks Seen Opening Higher on Iran Deal Hopes and SpaceX IPO Buzz

Trading in Tel Aviv is set to open higher on Thursday morning, helped by optimism around a reported near deal with Iran and the huge SpaceX offering. After a dramatic and positive overnight session on Wall Street, dual-listed stocks are expected to lift the local market by about 1.1%. The TA-35 already gained 1.7% yesterday, and chip names Tower Semiconductor, Nova and Camtek are leading the strength, with Camtek set to open about 6% above its previous close. Elbit, ICL and Nice are also expected to support the opening.

Oil prices are easing, reinforcing the more benign tone. Brent is trading at $88.5 a barrel, down about 2%, and U.S. crude is at $85, down about 1.9%. The report quotes Donald Trump saying he canceled planned strikes on Iran after talks were elevated to the highest level of the Iranian leadership. He said the parties, including the U.S., Israel and several regional states, had approved the final points in principle and in detail, and that the naval blockade will remain until the deal is completed. The signing time and place will be announced soon.

In foreign exchange, the dollar has strengthened against the shekel this week after a period of weakness, and is trading at 2.93 shekels. U.S. stock futures are also slightly higher ahead of the historic SpaceX IPO later today, while Asian markets are surging, led by South Korea’s Kospi, up about 7.7%. On Wall Street yesterday, the Nasdaq rose 2.4%, the S&P 500 1.2% and the Dow Jones 1.6%, with chips leading and Oracle falling 9% after announcing plans to raise another $20 billion for AI expansion.

Markets abroad and in Israel were also pushed by the announcement that SpaceX completed the largest IPO ever, selling 555.6 million shares at $135 each and raising $75 billion. That implies a market value of $1.77 trillion, or about $1.8 trillion on a fully diluted basis. In Tel Aviv yesterday, the broader market also advanced, with the defense index jumping more than 3.5% and banks, construction, real estate and insurance all gaining about 2%.

Later sections of the article note that U.S. bond yields fell 6 to 10 basis points after the drop in oil prices reduced inflation fears, that U.S. CPI came in at 4.2% and PPI rose 1.1% in May, and that Israel’s May CPI is due Monday. The piece also says the 2026 World Cup could add $40.9 billion to the global economy, with major effects on media, food and beverage, gaming, consumer tech and advertisers.