[New York Stock Exchange] Dow Up for Fourth Straight Session... S&P 500 and Nasdaq Turn Lower

WTI Falls Below $80 for the First Time Since March
SpaceX Continues Its Upward Momentum

On June 16 (local time), the three major U.S. stock indices were showing mixed trends. Both the S&P 500 and the Nasdaq indices turned downward. This appears to reflect increased caution ahead of the first Federal Open Market Committee (FOMC) meeting chaired by the new Federal Reserve (Fed) Chair, Kevin Warsh.

As of 10:25 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up 328.88 points (0.64%) from the previous trading session, standing at 51,999.91. The S&P 500 Index, which is focused on large-cap stocks, was down 5.06 points (0.06%) to 7,550.03, while the tech-heavy Nasdaq Index was down 63.37 points (0.24%), recording 26,619.56.

New York Stock Exchange. New York (USA) – Special Correspondent Yoonju Hwang

On this day, U.S. President Donald Trump stated that the peace agreement process with Iran was proceeding smoothly and emphasized that Iran would never acquire nuclear weapons. During the second day of the Group of Seven (G7) summit, in a meeting with Qatari monarch Tamim bin Hamad Al Thani and during a press Q&A session, President Trump said, "Iran will never possess nuclear weapons, nor develop, purchase, or take any action toward them."

He added, "(The peace agreement process with Iran) has now entered the second phase," and remarked, "In my opinion, the second phase will actually be easier." Following the signing of the memorandum of understanding (MOU) for the peace agreement, President Trump stated, "We will not invest any money in Iran," and assessed, "Iran now has a reasonable leadership."

Ahead of the MOU signing, international oil prices fell below $80 per barrel for the first time since March. On the New York Mercantile Exchange, July delivery West Texas Intermediate (WTI) crude was down 3.60% from the previous session at $77.84 per barrel. On the ICE Futures Exchange, August delivery Brent crude was down 2.97% to $80.69 per barrel.

The market appears to be taking a breather as it awaits the first FOMC meeting under Federal Reserve Chair Kevin Warsh on June 17. The market consensus is that the benchmark interest rate will remain unchanged at 3.50–3.75%.

SpaceX is showing remarkable momentum. SpaceX surged 12%, surpassing both Microsoft and Amazon in market capitalization, and has been climbing rapidly since its listing.

Keith Lerner, Chief Investment Officer (CIO) and Chief Market Strategist at Truist Wealth, commented, "Although the S&P 500 Index has not fully recovered to its previous levels, it is demonstrating the resilience of the economy on the surface." He added, "There may be considerable volatility in the short term, but given the significant rebound since the March low and the fact that it is still holding at those levels, there is no reason to complain."

This content was produced with the assistance of AI translation services.