New York, June 15, 2026, 20:01 EDT
- The Nasdaq rallied 3.07% while the S&P 500 rose 1.65%. The Dow ended at a fresh all-time high.
- U.S. index futures dipped in after-hours trading as traders took a breather following Monday’s rally.
- Wednesday is the key day. The Federal Reserve announces its decision and Chair Kevin Warsh speaks to media in his first post-meeting press conference.
Wall Street rallied Monday as stocks jumped, lifted by weaker oil prices and hints that the U.S. and Iran may be nearing a deal to reopen the Strait of Hormuz. The S&P 500 closed up 122.83 points at 7,554.29. The Dow added 468.77 to 51,671.03. The Nasdaq finished 795.10 higher at 26,683.94, according to Reuters and AP. Futures faded in after hours. The S&P 500 was down 0.12%, Nasdaq 100 futures off 0.16%, and Dow futures eased 0.07% as of 7:43 p.m. ET, .
Stocks moved up after oil prices dropped, taking some pressure off inflation worries. Brent crude slumped and was trading near $83 a barrel after news of a deal. U.S. crude futures slid 4.9% and closed lower, Reuters reported. Cheaper oil often helps companies that use a lot of fuel and might ease some costs for consumers. Airline and cruise stocks bounced back, but energy names fell behind. “Markets are higher on a classic relief rally,” said Gene Goldman, chief investment officer at Cetera Investment Management, to Reuters. He said lower oil is pulling some investors into tech stocks.
Tech and chip stocks ran higher as easing inflation pushed buyers into growth again. The S&P 500 tech group finished 3.4% stronger, while the Philadelphia semiconductor index climbed over 5%. Nvidia picked up 3.5%, Micron surged 10.5%, Reuters said. SpaceX shot up 19.6% in its second day after going public. But skeptics warn too much money is piling into the same popular plays, and that a slip in the AI trade could hit the market hard.
Cheaper oil might draw money into more than tech, with cyclicals like retailers, transports, banks, and small caps in play. Angelo Kourkafas at Edward Jones told Reuters that lower geopolitical tensions “could alleviate some of the inflation pressures and reduce bond yields.” That could set up a shift into groups that have lagged. But skeptics see risks: the U.S.-Iran deal keeps some key questions unsolved, energy supply could still be tight, and high inflation could keep the Fed from changing its stance.
Fed decision in focus as markets await Wednesday’s policy statement Markets are parked ahead of the Fed’s June 16–17 meeting, with the statement expected Wednesday at 2:00 p.m. ET and a press conference at 2:30 p.m., according to the Federal Reserve calendar. The central bank is expected to keep rates at 3.50%–3.75%. Investors are looking for comments from Warsh on inflation, oil, and any tilt toward hikes, Reuters reported. U.S. stocks got a lift from Monday’s rally as long as oil holds and Fed policy stays steady. With the S&P 500 just below records, traders worry about risk if the peace deal falls apart, inflation jumps, or the Fed changes its tone.
