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Wall Street closed higher on Monday, led by tech and discretionary stocks. Investor concerns about higher energy prices resulting from the Iran-Israel conflict were allayed as crude prices came down. All three benchmark indexes closed the session in the green.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added 0.8%, or 317.3 points, to close at 42,515.09. Twenty-one components of the 30-stock index ended in positive territory, while nine ended in negative.
The tech-heavy Nasdaq Composite gained 294.39 points, or 1.5%, to close at 19,701.21. This was the benchmark index’s biggest 1-day percentage gain since May 27.
The S&P 500 rose 56.14 points, or 0.9%, to close at 6,033.11. Eight of the 11 broad sectors of the benchmark index closed in the green. The Communication Services Select Sector SPDR (XLC), the Technology Select Sector SPDR (XLK) and the Financials Select Sector SPDR (XLF) advanced 1.7%, 1.6% and 1.1%, respectively, while the Utilities Select Sector SPDR (XLU) declined 0.5%.
The fear-gauge CBOE Volatility Index (VIX) decreased 8.2% to 19.11. A total of 17.9 billion shares were traded on Monday, lower than the last 20-session average of 18.1 billion. Advancers outnumbered decliners by a 1.97-to-1 ratio on the NYSE and by a 1.9-to-1 ratio on the Nasdaq.
Oil Prices Fall on Hope of De-escalation in the Middle East
On Monday, June 16, oil prices fell as geopolitical tensions between Iran and Israel appeared to have eased. After surging the previous week on fears of a broader Middle East conflict, crude prices pulled back sharply when signs emerged that Iran was willing to step back from further escalation and pursue diplomatic talks.
It was reported that Iran has asked Qatar, Saudi Arabia and Oman to ask U.S. President Donald Trump to convince Israel about an immediate ceasefire in return for Tehran's being more flexible in talks about its nuclear program. The hope for this potential de-escalation reduced the risk perception that had been swaying the oil markets.
Brent crude settled $1, or 1.4%, lower to $73.23/barrel. WTI crude fell $1.21, or 1.7%, to $71.77 per barrel. The retreat in oil prices reflected investor relief that the likelihood of supply disruptions from the region, particularly through the Strait of Hormuz, is currently diminished.
The cooling of tensions also prompted a broader shift in market sentiment, with investors moving away from safe-haven assets like oil and gold and returning to riskier equities, contributing to Wall Street’s rebound on the same day.
The Fed is widely expected to keep interest rates unchanged at its June meeting, which concludes on Wednesday, with the federal funds rate staying in the 4.25–4.50% range. This would mark the fourth consecutive hold on rates as policymakers seek clarity on the impact of tariffs, trade uncertainty and geopolitical tensions before making any modifications.
The meeting is expected to reflect a status???quo decision on rates but with clearer guidance on when rate cuts might come, informed by updated forecasts and cautious commentary. As of now, the first rate cut is not expected before September.
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Stock Market News for Jun 17, 2025
Wall Street closed higher on Monday, led by tech and discretionary stocks. Investor concerns about higher energy prices resulting from the Iran-Israel conflict were allayed as crude prices came down. All three benchmark indexes closed the session in the green.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added 0.8%, or 317.3 points, to close at 42,515.09. Twenty-one components of the 30-stock index ended in positive territory, while nine ended in negative.
The tech-heavy Nasdaq Composite gained 294.39 points, or 1.5%, to close at 19,701.21. This was the benchmark index’s biggest 1-day percentage gain since May 27.
The S&P 500 rose 56.14 points, or 0.9%, to close at 6,033.11. Eight of the 11 broad sectors of the benchmark index closed in the green. The Communication Services Select Sector SPDR (XLC), the Technology Select Sector SPDR (XLK) and the Financials Select Sector SPDR (XLF) advanced 1.7%, 1.6% and 1.1%, respectively, while the Utilities Select Sector SPDR (XLU) declined 0.5%.
The fear-gauge CBOE Volatility Index (VIX) decreased 8.2% to 19.11. A total of 17.9 billion shares were traded on Monday, lower than the last 20-session average of 18.1 billion. Advancers outnumbered decliners by a 1.97-to-1 ratio on the NYSE and by a 1.9-to-1 ratio on the Nasdaq.
Oil Prices Fall on Hope of De-escalation in the Middle East
On Monday, June 16, oil prices fell as geopolitical tensions between Iran and Israel appeared to have eased. After surging the previous week on fears of a broader Middle East conflict, crude prices pulled back sharply when signs emerged that Iran was willing to step back from further escalation and pursue diplomatic talks.
It was reported that Iran has asked Qatar, Saudi Arabia and Oman to ask U.S. President Donald Trump to convince Israel about an immediate ceasefire in return for Tehran's being more flexible in talks about its nuclear program. The hope for this potential de-escalation reduced the risk perception that had been swaying the oil markets.
Brent crude settled $1, or 1.4%, lower to $73.23/barrel. WTI crude fell $1.21, or 1.7%, to $71.77 per barrel. The retreat in oil prices reflected investor relief that the likelihood of supply disruptions from the region, particularly through the Strait of Hormuz, is currently diminished.
The cooling of tensions also prompted a broader shift in market sentiment, with investors moving away from safe-haven assets like oil and gold and returning to riskier equities, contributing to Wall Street’s rebound on the same day.
Consequently, shares of BP p.l.c. (BP - Free Report) and Shell plc (SHEL - Free Report) fell 1.8% and 1.5%, respectively. Both currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Fed Expected to Keep Interest Rates Unchanged
The Fed is widely expected to keep interest rates unchanged at its June meeting, which concludes on Wednesday, with the federal funds rate staying in the 4.25–4.50% range. This would mark the fourth consecutive hold on rates as policymakers seek clarity on the impact of tariffs, trade uncertainty and geopolitical tensions before making any modifications.
The meeting is expected to reflect a status???quo decision on rates but with clearer guidance on when rate cuts might come, informed by updated forecasts and cautious commentary. As of now, the first rate cut is not expected before September.