AP News in Brief at 9:04 p.m. EDT

Shares in SpaceX jumped more than 19% after opening for trading Friday, a sign that investors are looking past the billions the company is losing and instead betting that its massive investments in satellites, orbital data centers and artificial intelligence will pay off in the future.

SpaceX opened around midday at $150 a share, then rose to around $168, before finishing the day just below $161. That price gave the company a market value of $2.1 trillion, making it the sixth largest public U.S. company — larger even than its founder and CEO's other big business, the electric vehicle maker Tesla.

Between his holdings in SpaceX and Tesla, where he is also CEO, Musk is now worth an estimated $1.1 trillion, according to Forbes.

Musk says SpaceX, founded in 2002, is going public now 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.

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 said Friday the United States and Iran have agreed to wording of an agreement aimed at ending their war in the Middle East and that mediators were working with both sides to finalize a deal.

Prime Minister Shehbaz Sharif said the U.S. and Iran have reached a “final, agreed upon text.” He said Pakistan, which has taken the lead in mediation efforts, was working with the warring countries on next steps.

“Peace has never been this close as it is now,” Sharif said in a post on X.

The apparent breakthrough in negotiations comes after Iran exchanged fire with the U.S. and Israel over three days this week, threatening to return the Middle East to full-scale war.

Iranian Foreign Minister Abbas Araghchi said Friday an agreement “has never been closer” in a post on X. U.S. President Donald Trump, who has said multiple times in recent weeks the countries are on the cusp of a deal, shared Araghchi's post on his own social media.

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.

U.S. President Donald Trump said Thursday that he called off fresh strikes on Iran as he claimed a deal to end the war was imminent. Back-and-forth strikes earlier this week pushed a shaky ceasefire to the edge of collapse, which, if it happens, would inflict more havoc on Iran’s battered economy.

Strikes on steel and petrochemical industries and energy infrastructure earlier in the war have spurred a wave of business closures and job losses in Iran, where people now struggle to afford groceries in the face of triple-digit food inflation.

Along with the cratering economy, the specter of war has left many people desperate for an end to the turmoil and deeply anxious about the future. Huraz Ahmadi, a 19-year-old street vendor in the capital of Tehran, said he feared renewed fighting.

“I don’t think they will reach an agreement, given the way things are going. But I hope they make a deal. An agreement is much better than war,” Ahmadi said. “In wars, innocent and good people die. I personally lost a relative.”

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

WASHINGTON (AP) — The Kennedy Center was running out of options Friday evening to keep President Donald Trump's name on the facade of the iconic performing arts venue.

A judge earlier in the afternoon rejected a request to pause a court-ordered deadline of Friday to remove references to Trump from the building and other aspects of the Kennedy Center's operations. The institution appealed that ruling, an effort that was also rebuffed Friday evening.

Scaffolding was erected earlier in the day around a section of the building that includes Trump's name. After a round of storms passed Friday evening, multiple workers were back at the scene further building out the scaffolding in an apparent effort to prepare for removing the letters referencing the president.

After ignoring the Kennedy Center for much of his first term, Trump has wielded tremendous influence over the venue during his return to office. Just a month into his second term, he ousted the center’s previous leadership and replaced it with a board of trustees that named him chairman. Trump's name was quickly added to the building.

In his ruling that only Congress could make changes to the Kennedy Center's name, U.S. District Judge Christopher Cooper also blocked the administration from closing the cultural and arts venue for major renovations that had been planned to start in July and last for two years.

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

WASHINGTON (AP) — A federal judge ruled on Friday that 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 rejected a legal advocacy group's request to block organizers from using the White House lawn as the venue for Sunday’s planned UFC mixed martial arts event.

Mehta concluded that the plaintiffs likely don’t have legal standing to challenge the event and have failed to prove that they would suffer irreparable harm by the event going forward as planned. The judge also cited the plaintiffs’ “unreasonable delay” in suing to challenge an event that’s been in the works for months.

“In the context of an emergency application — and coupled with the fact that the UFC fight date was long ago known — it is fair to say Plaintiffs unreasonably delayed bringing suit, undercutting their claims of irreparable harm,” Mehta wrote.

Attorneys from the nonprofit Public Integrity Project sued to challenge Trump’s “UFC Freedom 250” event on behalf of an activist and a Vietnam War veteran. The two plaintiffs also asked the court to block organizers from building anything for the event on White House grounds, including a 92-foot-tall, 600-ton steel structure called The Claw.

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

ALEXANDRIA, Va. (AP) — A federal judge agreed on Friday to extend indefinitely a court-ordered block on the Trump administration's creation and operation of a $1.8 billion settlement fund for compensating people who claim to be victims of a weaponized government.

Earlier this month, acting Attorney General Todd Blanche told Congress that the government is scrapping its plans for the fund in the face of a fierce bipartisan backlash, and government attorneys have argued that lawsuits challenging the fund are now moot. But plaintiffs’ attorneys aren’t satisfied by Blanche’s assurances that the fund won’t move forward.

Neither was U.S. District Judge Leonie Brinkema, who ruled that the “Anti-Weaponization Fund” will remain blocked until further notice from the court.

“The (government's) mootness argument, in my view, doesn't go anywhere,” the judge said.

President Donald Trump, meanwhile, has not publicly and unequivocally endorsed the fund's cancellation. He has continued to express support for it in remarks to reporters.

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, a board member of the organization said Friday.

It's the latest action by the Trump administration connected to voting or election operations in the states, and it comes in a state that is expected to have hotly contested races this fall for governor and U.S. Senate.

Federal agents showed up at the Cleveland office of the Ohio Organizing Collaborative on Thursday and spent hours questioning staff, said Prentiss Haney, a board member of the grassroots organization. The organization was founded in 2007 and describes its mission as fighting for criminal justice reform, racial justice and an expansion of voting rights.

Federal agents also went to the homes of people who have worked with the organization, seeking interviews and information about alleged voter fraud, Haney said. He accused the agents of “intimidation tactics and harassment" and expressed concern that the investigation was designed to sow doubt in the coming elections.

The focus of the probe was unclear, but a person familiar with the matter said Friday that investigators were examining potential fraud violations. The person was not authorized to speak publicly about the investigation and spoke on the condition of anonymity.

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 warned people smugglers on Friday that they will face God's wrath for exploiting the desperation of migrants, demanding they stop and repent during his final day in this epicenter of the African migration route to Europe.

For the second day in a row in the Canary Islands, the American pope insisted on the inherent dignity and rights of migrants and demanded they be welcomed and integrated into society, in some of his strongest comments on the politically divisive issue.

“Break those chains and free those you hold in bondage,” Leo said in a message to human traffickers that he delivered during a meeting with humanitarian aid organizations that help migrants on the island of Tenerife.

Leo was wrapping up his weeklong trip to Spain in the Spanish archipelago, which is closer to Africa than the Iberian Peninsula and is a key point of entry for migrants who make the perilous Atlantic crossing from West Africa.

His return to Rome was delayed when his Iberia charter flight developed a technical problem. King Felipe VI offered his private plane instead, and Leo accepted. The problem couldn't be fixed, so Iberia said it was sending a separate aircraft from Madrid to fetch the journalists and Vatican officials left behind in Santa Cruz de Tenerife.

Suspect in Midland, Texas, shooting had fired at a police officer days earlier, officials say

A man who opened fire in the West Texas city of Midland in an attack Friday morning that left one person dead and 10 injured had shot at a police officer just days earlier during a chase, authorities said.

The suspect, 45-year-old Victor Mata Villarreal, already was being sought by authorities when he began firing at police and bystanders in Midland on Friday before barricading himself in an abandoned veterinary clinic, where he was eventually found dead, according to the Texas Department of Public Safety.

Police have provided limited details about how the shooting unfolded. Police arrived in the area after receiving reports of an active shooter, and Mata Villarreal started firing at officers, said Midland Police Chief Greg Snow. Several officers were pinned down behind their patrol cars and had to be rescued by an armored vehicle, Snow said, but no officers were shot.

Police then got everyone out of the area. “We moved to deny more targets for this active shooter,” Snow said.

A few hours after the shooting began, authorities used robot and drone footage from inside the building to confirm the shooter was dead, Midland Mayor Lori Blong. Police did not say 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 rose Friday after oil prices fell again, and SpaceX soared in its highly anticipated debut on Wall Street.

The S&P 500 added 0.5% to close out its 10th winning week in the last 11. The Dow Jones Industrial Average climbed 353 points, or 0.7%, and the Nasdaq composite gained 0.3%.

Stocks got a lift from a 3.4% drop for the price of Brent crude oil to $87.33 per barrel, deepening its loss for the week. Oil prices have come down since President Donald Trump on Thursday called off his threat to launch strikes on Iran and said a potential deal with Iran may be imminent.

A deal to end the war could reopen the Strait of Hormuz and allow oil tankers to once again deliver crude from the Persian Gulf to customers worldwide. Its near closure since the war began has sent the price of Brent up from roughly $70 per barrel and caused a wave of painful inflation for the world.

Of course, financial markets have rallied in the past on hopes that an end to the war with Iran was near, only to get disappointed each time.