New York, June 17, 2026, 06:02 (EDT)
- Nasdaq 100 futures led gains in early U.S. trading. S&P 500 futures ticked up. Dow futures were flat. Traders looked ahead to the Federal Reserve decision.
- Oil stayed below $80 a barrel as reports around a potential U.S.-Iran interim deal eased some inflation worries for investors.
- Markets are focused on the Fed’s policy statement coming at 2:00 p.m., with a press conference at 2:30 p.m. Traders are watching closely since it’s Kevin Warsh’s first meeting as chair.
Tech stocks regained ground in early U.S. futures trade Wednesday, with most contracts trading higher. Traders were watching for the Federal Reserve decision as Kevin Warsh took over as chair. Nasdaq 100 futures climbed 0.63%. S&P 500 futures added 0.15%. Dow futures slipped 0.02%. Quotes were from Investing.com after 5:20 a.m.
Oil prices have slipped, taking Brent crude below $80, after Reuters reported renewed chatter about Iranian crude returning to the market if a peace agreement can be reached. That’s giving traders something new to track, as cheaper oil could help cool inflation. But the Fed isn’t sounding any more certain on future rate cuts. Treasury yields fell a bit as well.
The cash market keeps normal hours Wednesday. NYSE and Nasdaq both shut for Juneteenth on Friday, June 19, calling it a full holiday. That leaves only one more regular session after today before the break.
Traders are looking to the Fed’s rate call at 2:00 p.m., with Warsh’s press conference at 2:30 p.m. The June 16-17 meeting will also bring fresh economic projections and the dot plot showing where policymakers see rates headed.
Tech ETFs were up in premarket trade. The Invesco QQQ Trust rose 0.64%. The SPDR S&P 500 ETF ticked up 0.15%, while the iShares Russell 2000 ETF added 0.22%. Intel moved up 4.2%, AMD gained 3.0%, Nvidia was 0.4% higher. Micron advanced 3.65% and ranked among top premarket movers.
Dow ends at a record as tech, chip stocks weigh on S&P and Nasdaq
Stocks swung Tuesday. The Dow Jones Industrial Average rose 0.64% to a record close. The S&P 500 slid 0.57%. The Nasdaq Composite dropped 1.15%. Tech and chip shares fell sharply. The Philadelphia semiconductor index tumbled 5.7%, Reuters reported.
Stocks pulled back from Monday’s rally, with Mark Luschini, chief investment strategist at Janney Montgomery Scott, telling Reuters, “We’re just digesting some of those gains.” Luschini said the Fed backdrop is “a little tentative.” Reuters
Oil remains the swing factor. Luka Belobrajdic, an economist at Westpac, told Reuters Iranian exports might reach “around the equivalent of 2% of global demand.” Sanctions relief could be slow, he said. The extra supply would help on inflation, but the signal is still mixed. Reuters
Warsh’s message lands on the other side of the trade. Jane Foley, head of FX strategy at Rabobank, told Reuters the Fed meeting was “overshadowing everything.” Money markets put the chance of a Fed hike this year at about 80%. Higher rates mean more expensive borrowing and can weigh on equities, especially fast-growing tech stocks. Reuters
Traders may be betting too hard on lower oil. If Warsh pulls back on rate cut hints, if the dot plot leans more hawkish, or if the Iran deal falls through and energy supply doesn’t improve, Nasdaq’s early gains could fade fast. “The onus will be on the data” to prove the energy shock has passed, Christopher Hodge at Natixis CIB Americas told Reuters. Reuters
