As of today, the S&P 500 Index is up 1.01%, the Dow Jones Industrial Average is up 0.46%, and the Nasdaq 100 Index is up 2.39%. The upward movement in stock indexes follows strength in chipmakers and AI-infrastructure stocks, as June E-mini S&P futures rose 1.00% and June E-mini Nasdaq futures climbed 2.40%.
Crude oil prices soared over 4% earlier today due to escalating tensions between Iran and Israel, but eased after Iran announced an end to its military operations and President Trump indicated both sides were seeking a ceasefire. The Federal Open Market Committee (FOMC) is now discounting a 3% chance of a 25 basis point rate hike in its upcoming meeting on June 16-17.
On the international market front, the Euro Stoxx 50 has fallen to a two-week low, while China’s Shanghai Composite dropped 1.70%, hitting a two-month low. Additionally, the 10-year T-note yield climbed to a two-week high of 4.580%, amid ongoing speculation about potential interest rate increases following strong US payroll data.
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