On Monday, June 16, U.S. markets ended higher on hopes of easing tensions between Israel and Iran, which drove oil prices lower, easing inflation concerns. Hopes for a ceasefire and Iran’s diplomatic outreach lifted investor sentiment. Tech and communication stocks led gains, while utilities underperformed.
With key economic data and earnings ahead, all eyes remain on the Fed’s rate decision, with no cuts expected.
In economic data, the New York Empire State Manufacturing Index dropped to -16 in June, down from -9.2 in May and below the expected -5.5.
Most S&P 500 sectors rose Monday, led by tech, communication, and consumer stocks, while utilities and health care declined. The Dow closed higher by 0.75% at 42,515.09, the S&P 500 gained 0.94% to 6,033.11, and the Nasdaq rose 1.52% to 19,701.21.
Related: Trump Says Israel-Iran ‘Ceasefire’ Not On The Table, Left G7 Early For A ‘Much Bigger’ Reason: SPY, QQQ Dip In Premarket, Oil Climbs
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Asia Markets Today
On Tuesday, Japan’s Nikkei 225 closed 0.67% higher at 38,567.50, led by gains in the Real Estate, Banking, and Textile sectors.
Australia’s S&P/ASX 200 was down 0.08% at 8,541.30, led by losses in the Utilities, Financials and Healthcare sectors.
India’s Nifty 50 was down 0.37% at 24,853.40, and the Nifty 500 declined 0.49% to 22,981.50.
China’s Shanghai Composite was down 0.04% at 3,387.40, and Shanghai Shenzhen CSI 300 slid 0.09% to 3,870.38.
Hong Kong’s Hang Seng closed the session 0.34% lower at 23,980.30.
Eurozone at 06:00 am ET
The European STOXX 50 index was down 1.27%.
Germany’s DAX index declined 1.25%.
France’s CAC 40 fell 1.05%.
U.K.’s FTSE 100 index traded lower by 0.47%.
European stocks fell as Iran-Israel tensions escalated, fueling fears of broader conflict and inflation from rising oil prices. Most STOXX 600 sectors declined, led by banks, while energy gained.
Commodities at 06:00 am ET
Crude Oil WTI was trading higher by 1.38% at $71.23/bbl, and Brent was up 1.47% at $74.31/bbl.
Oil prices rose amid ongoing Iran-Israel tensions, though no production losses have been reported. Markets remain volatile as concerns over disruptions at the Strait of Hormuz persist.
Natural gas rose 1.25% to $3.795.
Gold traded lower by 0.33% to $3,406.45, Silver rose 0.62% to $36.675, and Copper fell 0.37% to $4.8182.
U.S. Futures
At 06:00 am ET, the Dow Jones futures fell 0.62%, the S&P 500 declined 0.60%, and the Nasdaq 100 was down 0.61%.
Forex
At 06:00 am ET, the U.S. Dollar Index gained 0.02% to 98.16, USD/JPY was up 0.02% to 144.76, and USD/AUD declined 0.09% to 1.5308.
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