New York, June 17, 2026, 11:04 (EDT)
- Dow Jones Industrial Average gained 169.86 points, or 0.33%, to 52,169.53 in late LSEG data. The S&P 500 and Nasdaq both fell.
- Markets looked to the Federal Reserve’s policy decision at 2 p.m. ET, the first meeting led by Chair Kevin Warsh.
- May retail sales came in strong, backing the economic-growth outlook. But markets kept an eye on risks from rates and oil.
Dow Jones climbed in regular trading Wednesday, staying close to its record. The broader U.S. market was mixed ahead of the Fed decision expected later. According to the latest LSEG figures on Reuters, the Dow added 169.86 points, or 0.33%, to 52,169.53. The S&P 500 dipped 0.07%. Nasdaq Composite lost 0.15%. Quotes lagged at least 15 minutes.
The focus is on the Dow now, as it has turned into a clearer gauge for the shift into industrial and financial stocks, while pricey tech names are still unstable. The NYSE was in its main trading hours, 9:30 a.m. to 4 p.m. ET. The exchange will close Friday, June 19, for Juneteenth.
The Fed meeting is front and center for markets today. Policymakers are expected to keep the benchmark rate steady in a 3.50% to 3.75% band, according to Reuters. Traders are looking to Warsh’s first press conference for any hints on Fed thinking around inflation, the labor market and growth. Futures have been pricing in roughly a 43% chance of a 25-basis-point hike in December. One basis point equals 0.01 percentage point.
Jeff Buchbinder, chief equity strategist at LPL Financial, said, “The last thing that Warsh wants to do is send the 10-year yield sharply higher.” The 10-year Treasury yield sat at about 4.43%. Equity traders are watching the level closely. Reuters
Dow inches higher as S&P 500, Nasdaq slip
Caterpillar and Goldman Sachs drove most of the Dow’s intraday push, MarketWatch said. The S&P 500 and Nasdaq trailed as weakness in communication services and software names weighed, according to Reuters.
Chip stocks bounced, helping the market steady after Tuesday’s losses. Broadcom, Micron Technology, Advanced Micro Devices and Intel each gained between 2.5% and 4%, while the Philadelphia SE Semiconductor index added 3.5%, Reuters said.
Retail sales numbers added to the mix. U.S. retail sales picked up 0.9% in May, beating the 0.5% climb that economists in a Reuters poll forecast. Core retail sales—which strip out cars, gasoline, building materials, and food services—gained 0.7%. “The strength of May’s retail sales report … will raise more yellow flags at the Fed,” Scott Anderson, BMO Capital Markets chief U.S. economist, said. Reuters
But the setup is messy. Oil has pulled back from recent highs, taking some edge off inflation, but Reuters reported the U.S.-Iran memorandum of understanding still isn’t final. UBS Global Wealth Management said central banks may keep their guard up as they wait to see if the energy shock hits broader inflation. If Warsh sounds hawkish, Treasury yields jump, or oil finds new stress, the Dow’s record run could unwind fast.
Wells Fargo lifted its S&P 500 year-end target to 7,950, pointing to better-than-expected earnings and less macro risk following the U.S.-Iran interim agreement. The brokerage said “sentiment has reset,” opening up more space for the AI trade. Inflation remains the top threat for equities if the Fed responds, Wells Fargo said. Reuters
Dow traders are watching for a move: Will investors keep picking up industrials, banks and other cyclical names when the Fed statement comes out? For now, the blue-chip index of 30 big companies trades like the market still thinks the economy can handle higher rates, although that’s not a done deal.
