Bulls ran wild Monday as a Middle East ceasefire and tumbling oil prices sent the Nasdaq to its best day since March — but all eyes now shift to the Fed, with a rate decision landing today.
Yesterday's Scorecard
| Index | Close | Change |
|---|---|---|
| S&P 500 | 7,554.29 | +1.7% |
| Nasdaq Composite | 26,683.94 | +3.1% |
| Dow Jones | 51,671.03 | +0.9% |
What Happened
Iran ceasefire sparked a relief rally. Stocks surged after the US and Iran reached a preliminary deal to end the Middle East conflict and reopen the Strait of Hormuz, easing fears of an oil-driven inflation spike. The Nasdaq's 3.1% jump was its best single-day performance since March 31.
Oil collapsed, and energy stocks paid the price. Crude tumbled over 6% to around $75.50 a barrel — the lowest since early March — as the war-risk premium evaporated. The Energy Select Sector SPDR (XLE) was the only major sector to fall, dropping 3.6% while tech (XLK +3.4%) and communication services (XLC +2.4%) led the charge.
Boeing led the Dow's gainers, climbing 4.5% as the broader market also caught a tailwind from a sharp drop in the VIX, which shed 5% to below 17 — well off last week's panic peak above 23.
The Fed narrative got complicated. Even as stocks rallied, talk of a possible September rate hike resurfaced, with former Fed Vice Chair Roger Ferguson saying he "wouldn't be at all surprised" by one. CME FedWatch data shows markets now pricing in roughly a 25% chance of a hike in September — a notable reversal from spring's cut-focused conversation.
Today's Game Plan
Futures Right Now
Pre-market trading is choppy ahead of the Fed decision, with S&P 500 and Nasdaq futures hovering near the flatline after Monday's big tech-led pop. Traders appear to be in wait-and-see mode, unwilling to make big bets just hours before Powell takes the podium. Expect range-bound action this morning that could break sharply in either direction by early afternoon.
— Daily Mind Clarity | Daily Market Brief | Wednesday, June 17, 2026
댓글
댓글 쓰기