SpaceX stock soars in debut and makes Elon Musk the first trillionaire

NEW YORK (AP) — Shares of SpaceX soared 24% in their Wall Street debut, making the rocket maker’s founder and CEO Elon Musk the first-ever trillionaire. The shares opened at $150 and reached $168 around 2:20 p.m. ET. That price gave the company a market value of around $2.2 trillion. Forbes estimates that Musk, who is also a major shareholder in Tesla, is now worth $1.2 trillion. Musk says SpaceX is going public because it needs money to fund its ambitions of putting satellites and data centers in space and eventually establishing a colony of people on Mars. The $75 billion in proceeds from the IPO tops the previous high of $26 billion for Saudi Aramco’s IPO in 2019.

US and Iran have agreed to wording of a deal to end their war, Pakistan’s prime minister says

ISLAMABAD (AP) — Pakistan’s prime minister says the United State and Iran have agreed to wording of an agreement aimed at ending their war in the Middle East. Pakistani Prime Minister Shehbaz Sharif said in a social media post Friday that mediators are working with both sides to finalize a deal. He wrote: “Peace has never been this close.” No details were given. But three regional officials who spoke Friday to The Associated Press said they expect the deal to pave the way for reopening the Strait of Hormuz. A senior U.S. official said terms include removal or destruction of nuclear material from Iran. All four officials spoke on condition of anonymity because of the sensitive negotiations.

Iranians endure war fatigue and soaring prices as conflict deepens domestic woes

CAIRO (AP) — Iranians are living between confusion and exhaustion as the country and its economy are squeezed between war and multiplying crises at home. Strikes on steel and petrochemical industries and energy infrastructure earlier in the war spurred a wave of business closures and job losses in Iran, where people now struggle to afford everyday groceries in the face of triple-digit food inflation. Many business owners are struggling to survive. The cratering economy and the threat of more war have left many people desperate for an end to the turmoil and deeply anxious about the future.

Trump’s name poised to be removed from Kennedy Center after judge denies last-minute move to keep it

WASHINGTON (AP) — A judge has denied a request from the Kennedy Center to pause a ruling ordering President Donald Trump’s name removed from building. That denial came Friday. U.S. District Judge Christopher Cooper ruled last month that Trump’s name was illegally added to the iconic Washington performing arts facility. Cooper ruled only Congress could institute a change to the Kennedy Center’s name and ordered references to Trump to be removed by Friday. Now he’s refused the Kennedy’s Center board’s request to stay the ruling.

Judge rules Trump can stage UFC fights on the White House’s South Lawn this weekend

WASHINGTON (AP) — A federal judge has ruled the White House is allowed to stage a UFC show this weekend in an elaborate ring already built on the South Lawn to celebrate the nation’s 250th anniversary — on President Donald Trump’s 80th birthday. U.S. District Judge Amit Mehta ruled Friday that organizers can use the White House lawn as the venue for Sunday’s planned UFC mixed martial arts event. The nonprofit Public Integrity Project had sued to challenge Trump’s UFC Freedom 250 event. The White House calls the lawsuit baseless, saying the UFC event is no different from many other events hosted at public forums in the capital.

Judge extends block on Trump’s $1.8 billion ‘Anti-Weaponization Fund’

ALEXANDRIA, Va. (AP) — A federal judge in Virginia has extended a court-ordered block on the Trump administration’s $1.8 billion settlement fund for compensating people who claim to be victims of a weaponized government. Acting Attorney General Todd Blanche says the government is scrapping its plans for the fund after bipartisan backlash. Plaintiffs’ attorneys aren’t satisfied by Blanche’s assurances the fund won’t move forward. U.S. District Judge Leonie Brinkema previously agreed to temporarily block President Donald Trump’s Republican administration from proceeding with the fund for at least two weeks. Brinkema on Friday gave the parties a week to negotiate an agreement for Blanche to submit a sworn declaration the administration won’t revive the fund.

FBI searches office of Ohio group that supports voter registration efforts

FBI agents have searched the office of an Ohio group that supports voter registration efforts, seizing documents and computer files. That’s according to a board member of the group, Prentiss Haney, on Friday. It’s the latest action by President Donald Trump’s Republican administration connected to voting or election operations in the states. Haney says federal agents showed up at the Cleveland office of the Ohio Organizing Collaborative on Thursday and spent hours questioning staff. The focus of the investigation and any potential crimes being probed are unclear. Ohio’s Democratic candidate for governor says she’s troubled by reports of the FBI raid. The Justice Department has declined to comment.

Pope tells traffickers of migrants in the Canary Islands: Stop, repent or face God’s wrath

SANTA CRUZ DE TENERIFE, Spain (AP) — Pope Leo XIV is warning human traffickers that they will face God’s wrath for exploiting the desperation of migrants. Leo urged Friday they stop and repent during his final day in this epicenter of the African migration route to Europe. Leo wrapped up his weeklong trip to Spain in the Canary Islands. The Spanish archipelago is closer to Africa than the Iberian Peninsula and was a key point of entry for migrants who make the perilous Atlantic crossing from West Africa. He is fulfilling a wish of Pope Francis to visit the islands to commemorate the thousands of lives lost at sea. He is also drawing attention to the Catholic Church’s biblically-mandated mantra to “welcome the stranger.”

Suspect in Midland, Texas, mass shooting had fired on police days earlier, officials say

Authorities in Texas say a man who opened fire in a shooting that left one dead and 10 injured had shot at police just days earlier during a chase. Texas officials say the suspect began firing shots at officers and bystanders in Midland, Texas, on Friday morning before barricading himself inside an abandoned veterinary clinic. The Texas Department of Public Safety identified him in a news release as 45-year-old Victor Mata Villarreal. Police say he was found dead a few hours after the shooting began. Police have not said how he died.

US stocks rise after oil prices ease and SpaceX soars in its debut on Wall Street

NEW YORK (AP) — U.S. stocks are rising after oil prices fell again, and SpaceX soared in its highly anticipated debut on Wall Street. The S&P 500 rose 0.4% Friday. The Dow added 382 points, and the Nasdaq composite gained 0.3%. Stocks got a lift from a 3% drop for Brent crude oil’s price, as hopes remain for a potential U.S.-Iran deal to could get oil flowing globally again. SpaceX soared 24.3% in its first day of trading, suggesting investors still have plenty of demand for AI-related stocks. Other AI stocks were mixed following their sharp swings over the last week.