As of today, the S&P 500 Index is up 0.03%, the Dow Jones Industrial Average has increased by 0.42%, and the Nasdaq 100 Index is up 0.37%. Notably, crude oil prices are highly volatile, rebounding after President Trump’s announcement that the U.S. will continue targeting Iran and potentially seize Kharg Island, impacting global energy markets. This escalation has added pressure to stocks, following a rise in U.S. weekly initial jobless claims to a four-month high of 229,000.
Meanwhile, Oracle shares plummeted over 11% after the company reported higher-than-expected capital spending of $70 billion, dampening sentiment among technology stocks. In contrast, chipmakers and AI-related stocks have gained, with KLA Corp leading the S&P 500 and Nasdaq 100 with an 8% increase. The market is also factoring in a 3% chance of a rate hike at the upcoming FOMC meeting on June 16-17.
Internationally, the Euro Stoxx 50 has increased by 0.89%, while Japan’s Nikkei Stock Average is slightly up 0.06%. The ECB raised the deposit facility rate to 2.25% amid mixed economic forecasts, including a downgrading of Eurozone GDP growth expectations for 2026.
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