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Stocks were mixed at the open on Tuesday as Wall Street looked through lower oil prices and toward the start of the Federal Open Market Committee's June meeting. The Dow rose 315 points, or 0.6%. Any close higher would be a fresh record close for the Dow.
The S&P 500 index gained about 0.1%, while the Nasdaq Composite rose 0.3%.
Markets are pausing after the S&P 500's best 3-day stretch in over a year, while SpaceX stock eyes a pass of Amazon by market cap
US equity markets were tracking in the green before the open Tuesday as traders await the Federal Re
Global markets were broadly cautious on Tuesday as investors assessed the implications of a preliminary peace agreement between the United States and Iran, monitored a surprise policy move from the Bank of Japan and continued to track the extraordinary post-IPO surge in SpaceX (NASDAQ:SPCX). Futures Trade in Narrow Range Ahead of Fed MeetingU.
The S&P 500 closed Monday at 7,554.29, up 1.65%, as the Nasdaq surged 3.1%. This sharp rally appeared closely tied to geopolitical developments. On Sunday, June 14, President Trump announced the US-Iran peace deal via Truth Social, simultaneously authorizing the toll-free reopening of the Strait of Hormuz and removing the naval blockade. Consequently, WTI crude dropped roughly 5% to around $80, while Brent fell to $83, their lowest levels in months. The S&P now walks into one of the most consequ
Federal Open Market Committee (FOMC) rate hikes might best be viewed as a necessary evil for Wall Street.
<body><p>STORY: Wall Street's main indexes rallied on Monday, with the Dow gaining nearly 1% to notch a record-high close, the S&P 500 climbing about one-and-two-thirds percent and the Nasdaq soaring 3%.</p><p>Investors cheered the news of a preliminary deal between the U.S. and Iran to end their war and reopen the Strait of Hormuz. </p><p>Kevin Mahn is president and chief investment officer at Hennion & Walsh Asset Management.</p><p>"I believe that the theme of the day for investors is that a deal has been reached. We think the strait has been opened, we think, and the market has rallied, at least for now. Obviously, if the first two tenets of that theme start to get unwound, then we're going to see this market rally go in the opposite direction. But as it stands now, we believe that ultimately a deal between the U.S. and Iran will be signed in Switzerland on Friday and in all likelihood, tankers will start to pass through the Strait of Hormuz, and that should start to ease inflationary pressures that are a result of higher oil prices that have been in place now since the beginning of March."</p><p>U.S. crude futures settled down 4.9% and hit their lowest level since March, helping to lift shares of energy-sensitive airline and cruise companies and hurting energy stocks.</p><p>Easing inflation fears also helped boost technology stocks as investors were more comfortable taking on riskier bets.</p><p>Chip giant Nvidia gained 3.5% and Micron Technology jumped nearly 11% after at least two brokerages sharply raised their price targets for the stock.</p><p>Investors now turn their attention to the Federal Reserve's two-day policy meeting, which concludes Wednesday.</p><p>Traders expect the central bank to leave interest rates unchanged, but they'll be watching closely for signals from Kevin Warsh in his first press conference as Fed chair.</p></body>
Investors are starting to brace for the Fed's policy decision after its meeting, which begins today.
Investors are starting to brace for the Fed's policy decision after its meeting, which begins today.
US stock futures wavered as investors shifted their focus from the US-Iran deal announcement to the Federal Reserve's policy meeting.
US equity investors will focus this week on Kevin Warsh's inflation assessment at his first rate-set
While interest rates are widely expected to remain unchanged, Warsh and the Federal Open Market Committee (FOMC) appear set to make a subtle yet powerful monetary policy change.
Investor attention will be on Kevin Warsh's first meeting as chair of the Federal Reserve, dealmaking in the Middle East, and the second-day effects on SpaceX.
Investor attention will be on Kevin Warsh's first meeting as chair of the Federal Reserve, dealmaking in the Middle East, and the second-day effects on SpaceX.
The stock market's expensive valuation is particularly concerning alongside the prospect of higher interest rates.
The past week's stock market saw the S&P 500 and the Nasdaq composite test, then bounce off support at their 50-day moving averages. The S&P 500 then rose, on Friday, to briefly test resistance at its 21-day exponential moving average. The Nasdaq did not rise to this level. The Nasdaq 100, however, as tracked by the Invesco QQQ Trust Series...
President Trump's 180 on inflation may result in a corresponding about-face for Wall Street's bull market.
Bitcoin ETFs posted a record $4.4B outflow streak. Trump's Iran deal lifted BTC 3%, but the Fed meets June 16.
<body><p>STORY: Wall Street's main indexes ended sharply higher on Thursday, with the Dow adding more than 1.8%, the S&P 500 climbing one-and-three-quarters percent and the Nasdaq jumping more than two-and-a-half percent.</p><p>President Donald Trump canceled planned strikes on Iran and said a peace deal with Tehran could come as soon as this weekend.</p><p>While oil prices dropped sharply, Ben McMillan, chief investment officer at IDX Advisors, warned that inflationary and other economic pressures wouldn't immediately subside. </p><p>"It's not a spring where all of a sudden, once everything is signed and everybody agrees to a ceasefire, inflation magically comes down, even if the price of oil does. You know, supply chains have been disrupted, and not just oil, by the way, too, things like fertilizer, things that impact the food supply. And we're starting to see that percolate through the system."</p><p>Feeding inflation worries, data on Thursday showed U.S. producer prices increased more than expected in May, leading to the largest annual gain in over three years.</p><p>:: Oracle</p><p>Among the day's stock moves, shares of Oracle bucked what was otherwise a strong day for tech stocks, plunging 8.5% after the firm projected capital spending plans for fiscal 2027 above Wall Street estimates.</p><p>And shares of Adobe, down more than 6% at the close, plunged further in extended trading, despite the Photoshop maker raising its annual revenue forecast. The company also announced the departure of its CFO only three months after Adobe's CEO said he would step down.</p><p>And SpaceX priced the biggest-ever U.S. IPO at $135 per share, making Elon Musk’s rocket maker one of the world’s most valuable companies. The IPO raised a record $75 billion, valuing the company at nearly $1.8 trillion, a record for an initial offering. Trading is set to begin on Friday.</p></body>
US equity indexes were higher on Wednesday after core producer price inflation grew less than foreca
Wall Street snapped a three-day losing streak on Thursday, but the rally lost steam by midday. Hot inflation data and Middle East tensions are keeping investors cautious ahead of SpaceX's historic IPO.
(Updates with new information from the first paragraph.) US equity indexes rose amid a broad-base
New Fed Chair Kevin Warsh and the Federal Open Market Committee (FOMC) may be forced to tackle rapidly rising inflation.
The market looked set to rebound on Thursday as investors piled back into tech stocks, which have taken a beating in recent days due to worries about higher inflation and the looming SpaceX IPO. “We remain constructive on the long-term bull market, but mounting technical evidence suggests an increased risk of a deeper pullback,” said LPL Financial’s chief technical strategist Adam Turnquist. The European Central Bank is widely expected to hike interest rates for the first time in nearly three years, which could foreshadow future tightening by the Federal Reserve and other central banks.
The Nasdaq Composite tumbled again today after the latest inflation reading and higher oil prices failed to stop the bleeding. Chips were at the heart of the downturn, with the iShares Semiconductor ETF sinking another 3.7%, putting the chip stock benchmark 12% off its June 3 closing high. Industrials were the biggest laggard on Wednesday, dragged down by a swirl of other factors including rising oil prices, and expectations of a Fed interest rate hike.
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