| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 42,215.80 | -299.29 | -0.70% |
| S&P 500 | 5,982.72 | -50.39 | -0.84% |
| Nasdaq | 19,521.09 | -180.12 | -0.91% |
| VIX | 21.60 | 2.49 | 13.03% |
| Gold | 3,404.90 | -2.40 | -0.08% |
| Oil | 75.30 | 0.46 | 0.61% |
OVERVIEW OF THE US MARKET
Major stock indexes slipped, and oil prices climbed Tuesday after ongoing attacks between Israel and Iran dimmed hopes for a quick de-escalation in the conflict. The Dow Jones Industrial Average declined 0.7%, or 299 points, on Tuesday. The S&P 500 fell 0.8% and the Nasdaq Composite lost 0.9%.
The moves accelerated after President Trump warned he is losing patience with Iran, calling for unconditional surrender. Trump administration officials said he is considering options including a potential U.S. strike against Iran. He said earlier he was working on a real end to the conflict, after signing a G-7 statement calling for peace and stability in the Middle East. Iran has signaled it wishes to de-escalate hostilities with Israel, according to a Wall Street Journal report that boosted stocks Monday. But the two countries continued to trade missile strikes Tuesday. A third U.S. Navy destroyer entered the eastern Mediterranean Sea to help defend Israel, and a second U.S. carrier strike group is heading toward the Arabian Sea.
While 10 of 11 sectors in the S&P 500 retreated, the exception was energy, which was buoyed by higher oil prices. Energy shares rallied alongside the price of oil, with U.S. crude futures rising 4.3% to $74.84, their highest close since Jan. 22. The S&P 500 energy sector added 1%, making it the lone sector to end Tuesday’s session higher. Shares of Marathon Petroleum, Chevron and Diamondback Energy all rose more than 1.2%. Defense-related stocks were another gainer, with Lockheed Martin winning 2.6 per cent and Northrop Grumman 1.2 per cent.
Anxiety about Iran and Israel has emerged as the market’s focal point at a time when investors are also watching the Federal Reserve, which opened a two-day monetary policy meeting. The Fed is expected to keep interest rates steady as it eschews interest rate cuts for now while monitoring the effects of Mr Trump’s tariffs on inflation. On June 18, the Fed is also due to release its latest economic projections on growth, unemployment and inflation. Markets digested weaker than expected US economic data. Overall, US retail sales fell in May by 0.9 per cent from April to US$715.4 billion (S$920 billion), figures that suggested a pullback from April’s surge in buying to beat out tariffs.
OVERVIEW OF THE AUSTRALIAN MARKET
On Tuesday, 17 June 2025, the Australian share market showed mixed performance, with the S&P/ASX 200 Index closing marginally lower by 7.1 points (-0.08%) at 8541.3 1.
There is a sharp rise in oil prices and news of a $30 billion takeover of Santos Limited (ASX: STO) boosted energy stocks. Energy stocks rose, with Woodside (+3%), Beach Energy (+1.9%), and Karoon (+2.3%) posting solid gains. Uranium stocks surged after Sprott’s $US100m uranium buy plan showed quite a rise: Deep Yellow (+21.2%), Paladin (+15.6%), Boss Energy (+17.7%), and Silex (+23.9%).
The technology sector led gains with a 1.2% rise, supporting overall market breadth, as 51% of the top 150 stocks closed higher despite a modest index decline.
Meanwhile, financials and gold miners dragged, with CBA (-0.03%), Evolution Mining (-8%) following a UBS downgrade, and Northern Star (-8.2%) weighing on the index. Among standout movers, ASX Ltd fell 6.7% amid an ASIC probe, Tourism Holdings soared 56% on a $471 million buyout offer, and Bubs Australia gained 6.3% on US regulatory progress.