New York, June 12, 2026, 16:04 EDT
- Dow Jones Industrial Average moved higher after the bell Friday, climbing 353.42 points, or 0.71%, to 51,208.20, according to Reuters preliminary data.
- Wall Street rose as traders weighed U.S.-Iran peace-deal hopes, a drop in oil and the debut of SpaceX in the market. Investors are eyeing the Fed decision next week.
- The Dow is now near the high end of its 52-week range, and with inflation still a big risk, the index looks fairly valued to risky—not exactly cheap.
Dow Jones closed up on Friday, with the index gaining 353.42 points, or 0.71%, to finish at 51,208.20, according to Reuters’ preliminary figures. The move capped a rebound week for Wall Street as investors bought back into cyclical and financial names. S&P 500 added 0.51%, Nasdaq Composite rose 0.30%.
The Dow’s price-weighted setup matters because higher-priced names push the index around more than cheaper ones. S&P Dow Jones Indices calls the Dow a price-weighted look at 30 U.S. blue-chips. On Friday, Goldman Sachs, Verizon, JPMorgan Chase, American Express and Caterpillar pulled the index up. Nike, Apple and Amazon lagged.
Markets shifted as risk appetite picked up on reports of progress on a U.S.-Iran peace deal. That pushed crude oil lower and took some concern out of the inflation outlook. Jake Dollarhide, chief executive officer of Longbow Asset Management, told Reuters: “There’s still hope for a peace deal. Trump called off the attacks … Third parties are confirming a peace deal is happening.” MarketScreener Australia
Oil dropped, which gave bulls in equities some cover as cheaper fuel can ease costs for companies and for households. Brent crude was down 3.4% to $87.29 a barrel earlier Friday, AP said. U.S. consumer sentiment picked up in June, according to the University of Michigan’s first read, climbing to 48.9 from 44.8 in May. Still, the index stayed below its level from a year ago.
SpaceX started trading on Wall Street, drawing focus to how investors are taking to major tech and AI IPOs after choppy moves in growth stocks. Reuters said shares traded over the $135 IPO mark, giving SpaceX a value north of $2 trillion. Space stocks that jumped ahead of the debut fell back.
Bears say the rally still faces risks from inflation and rates. Producer prices climbed 1.1% in May and jumped 6.5% year over year, the fastest pace since November 2022. “The Fed is clearly missing its inflation target by a lot more than it is missing its employment objective,” John Ryding at Brean Capital told Reuters. Reuters
Fed decision due June 16–17; rates and inflation in focus The next big event is the Federal Reserve’s June 16–17 meeting. Markets are waiting to see if policymakers hold interest rates, what they say on inflation, and if they hint at a possible future hike. Reuters reported the Fed is expected to keep the benchmark overnight rate at 3.50%–3.75% next Wednesday.
Dow fund holders are seeing the index as fair to risky right now. It isn’t looking especially cheap. Bulls have been pointing to better global mood, falling oil, and more than just tech names working. Bears say the Dow is still close to its 52-week top at 51,660.40, with inflation and the Fed able to squeeze prices fast.
