Goldman nets a big payday for SpaceX IPO. Plus, what drove our winners and losers this week

Here is a story making headlines in the economy: Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are trading higher Friday afternoon, with the S & P 500's gains pushing it firmly in positive territory for the week. That's quite the change after back-to-back losses on Tuesday and Wednesday, on the heels of last week's ugly finish .

The market is receiving a boost from Iran peace deal optimism, as Iran's foreign minister posted on X on Friday that a memorandum of understanding "has never been closer. " Pakistani Prime Minister Shehbaz Sharif also said on X that a "final, agreed upon text of the peace deal has been reached," and Pakistan is working with the two sides to finalize the next steps. But nothing is guaranteed.

Economic Details

A senior Trump administration official put the odds at 80% to 85%, well short of a sure thing. We remain cautiously optimistic that a deal will happen at some point. The oil market appears to share that view, with U.

benchmark WTI crude down about 3% and trading below $85 per barrel. The other big story Friday is SpaceX's record-breaking initial public offering , with shares up over 25% as of this writing. The IPO brought in $100 million in fees for both Club name Goldman Sachs and rival Morgan Stanley.

That's a nice chunk of change for the banks. For context, Goldman posted total equity underwriting revenue of $535 million last quarter . The smooth offering is also a reputation win.

Analyst Views

Goldman bankers can point to the success of the SpaceX deal as part of their pitch to Anthropic and OpenAI as those companies prepare to come public. Here are some of the biggest gainers in the portfolio during this topsy turvy week. Intel is in the top spot with a gain of more than 25% on a handful of good news.

The stock soared Monday after The Information reported Google placed an order at Intel to make more than 3 million of its tensor processor units (TPUs) in 2028. The report also mentioned Nvidia is testing Intel's technology to see if it can produce certain processors. To be sure, the report is still unconfirmed and some suggested Google may be tapping Intel for packaging, rather than its fabrication services.

It nevertheless shows that AI chip designers are increasingly looking at alternatives to Taiwan Semiconductor Manufacturing Co. , and Intel's up-and-coming foundry business makes for a logical second source. Intel shares also had a strong day Thursday after Bank of America reversed its bearish view and double upgraded the stock to buy on confidence in foundry and also its central processing unit (CPU) business.

Economists are analysing what the news means for the markets.