The S&P 500 Index is up 0.73%, the Dow Jones Industrial Average has risen 0.53%, and the Nasdaq 100 Index has increased by 1.62%. Today, June E-mini S&P futures are up by 0.80%, while June E-mini Nasdaq futures have gained 1.65%. These gains come after President Trump signed a preliminary agreement to end the US-Iran conflict, causing crude oil prices to drop to a 3.5-month low and improving investor sentiment.
Weekly initial unemployment claims decreased by 4,000 to 226,000, aligning closely with expectations of 225,000. Additionally, the June Philadelphia Fed business outlook survey rose 10.7 points to 10.3, surpassing the forecast of 10.0. The markets are affected by the quarterly event known as triple witching, which could lead to increased volatility today.
Chipmakers, led by an 8% jump in Intel, are significantly contributing to the market’s upward momentum after the company announced plans to collaborate with Apple on domestic semiconductor production. In contrast, IT service stocks are declining, with Accenture experiencing a 16% drop following a lackluster revenue forecast for Q4.
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