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Wall Street closed mixed on Tuesday as falling oil prices weighed on energy stocks and investors awaited the Federal Reserve's policy decision. The Nasdaq Composite and the S&P 500 ended in negative territory, while the Dow ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.6%, or 328.64 points, to close at 51,999.67. Sixteen components of the 30-stock index ended in positive territory, and 14 ended in the negative.
The tech-heavy Nasdaq Composite declined 1.2% or 307.60 points, to close at 26,376.34.
The S&P 500 lost 0.6% to end at 7,511.35. Out of the 11 broad sectors of the broad-market index, four ended in negative territory, while seven were in positive territory. The Information Technology Select Sector SPDR (XLK), Energy Select Sector SPDR (XLE), and the Consumer Discretionary Select Sector SPDR (XLY) fell 2.3%, 0.3%, and 0.1%, respectively, while the Financials Select Sector SPDR (XLF) rose 1.5%.
The fear gauge, the CBOE Volatility Index (VIX), increased by 1.3% to 16.41. A total of 20.98 billion shares were traded on Tuesday, higher than the last 20-session average of 20.84 billion. The S&P 500 posted 23 new 52-week highs and three new lows, and the Nasdaq Composite recorded 78 new highs and 119 new lows.
Crude Falls as Supply Fears Ease
Crude oil prices plummeted on Tuesday, with Brent crude falling below $80 per barrel for the first time since March. Reports emerged of an agreement between Iran and the United States that would allow Iran to resume oil exports, easing supply concerns in the market.
Brent crude futures closed at $78.45 per barrel, down 0.7% in the session, while U.S.-traded West Texas Intermediate (WTI) futures for crude oil fell 0.6% to $74.79 per barrel. The Strait of Hormuz is one of the key sea routes for the global energy trade. The full reopening of the Strait of Hormuz has removed any supply blockage from the oil price equation.
The Federal Reserve holds its two-day meeting, which begins on Wednesday. Current market expectations have the Fed holding interest rates at 3.50-3.75% according to the CME FedWatch Tool.
The Fed's meeting is crucial for the market, since oil prices have fueled concerns about inflation. Investors will closely watch the Fed’s policy statement and remarks from Chairman Kevin Warsh for signals on the future direction of monetary policy.
Economic Data
Per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, Housing Starts for May came in at 1,177,000. The number for April was revised down to 1,392,000 from the previously reported 1,465,000. Building Permits were 1,413,000 for May. The number for April was revised down to 1,423,000 from the previously reported 1,442,000.
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Stock Market News for Jun 17, 2026
Wall Street closed mixed on Tuesday as falling oil prices weighed on energy stocks and investors awaited the Federal Reserve's policy decision. The Nasdaq Composite and the S&P 500 ended in negative territory, while the Dow ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.6%, or 328.64 points, to close at 51,999.67. Sixteen components of the 30-stock index ended in positive territory, and 14 ended in the negative.
The tech-heavy Nasdaq Composite declined 1.2% or 307.60 points, to close at 26,376.34.
The S&P 500 lost 0.6% to end at 7,511.35. Out of the 11 broad sectors of the broad-market index, four ended in negative territory, while seven were in positive territory. The Information Technology Select Sector SPDR (XLK), Energy Select Sector SPDR (XLE), and the Consumer Discretionary Select Sector SPDR (XLY) fell 2.3%, 0.3%, and 0.1%, respectively, while the Financials Select Sector SPDR (XLF) rose 1.5%.
The fear gauge, the CBOE Volatility Index (VIX), increased by 1.3% to 16.41. A total of 20.98 billion shares were traded on Tuesday, higher than the last 20-session average of 20.84 billion. The S&P 500 posted 23 new 52-week highs and three new lows, and the Nasdaq Composite recorded 78 new highs and 119 new lows.
Crude Falls as Supply Fears Ease
Crude oil prices plummeted on Tuesday, with Brent crude falling below $80 per barrel for the first time since March. Reports emerged of an agreement between Iran and the United States that would allow Iran to resume oil exports, easing supply concerns in the market.
Brent crude futures closed at $78.45 per barrel, down 0.7% in the session, while U.S.-traded West Texas Intermediate (WTI) futures for crude oil fell 0.6% to $74.79 per barrel. The Strait of Hormuz is one of the key sea routes for the global energy trade. The full reopening of the Strait of Hormuz has removed any supply blockage from the oil price equation.
Consequently, stock prices of major energy stocks such as Chevron Corporation (CVX - Free Report) , Marathon Petroleum Corporation (MPC - Free Report) and Phillips 66 (PSX - Free Report) declined 0.2%, 0.2%, and 0.7%, respectively. Marathon and Phillips currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here.
FOMC In Focus
The Federal Reserve holds its two-day meeting, which begins on Wednesday. Current market expectations have the Fed holding interest rates at 3.50-3.75% according to the CME FedWatch Tool.
The Fed's meeting is crucial for the market, since oil prices have fueled concerns about inflation. Investors will closely watch the Fed’s policy statement and remarks from Chairman Kevin Warsh for signals on the future direction of monetary policy.
Economic Data
Per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, Housing Starts for May came in at 1,177,000. The number for April was revised down to 1,392,000 from the previously reported 1,465,000. Building Permits were 1,413,000 for May. The number for April was revised down to 1,423,000 from the previously reported 1,442,000.