| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 43,089.02 | 507.24 | 1.19% |
| S&P 500 | 6,092.18 | 67.01 | 1.11% |
| Nasdaq | 19,912.53 | 281.56 | 1.43% |
| VIX | 17.48 | -2.35 | -11.85% |
| Gold | 3,337.70 | 3.8 | 0.11% |
| Oil | 65.1 | 0.73 | 1.13% |
OVERVIEW OF THE US MARKET
Stocks climbed after Israel and Iran’s cease-fire appeared to be taking hold on Tuesday, with the S&P 500 nearing a record high.
The S&P 500 rose 1.1% and the Nasdaq 100 climbed 1.5%, notching its first record since February. West Texas Intermediate crude plunged nearly 15% over two sessions to settle around $64 a barrel.
In late hours, FedEx Corp. forecast a worse-than-expected profit. Money markets fully priced in two Fed cuts by the end of 2025, with a first move in September far more likely than next month — though bets on a July reduction edged up from last week.
Investors had been looking warily at the possibility of a widening conflict in the Middle East after the U.S. struck Iranian nuclear sites over the weekend. But Iran’s mild response to the U.S. attack and its truce with Israel, however fragile, tempered those concerns.
U.S. consumer confidence was unexpectedly weak in June. The Conference Board index fell to 93 from 98.4 in May, reflecting consumers’ concerns about tariffs. A labor-market indicator included in the survey also suggested Americans see jobs as more difficult to get.
Meanwhile, Federal Reserve Chair Jerome Powell reaffirmed the Fed’s wait-and-see stance on rate cuts in testimony on Capitol Hill. Rifts have opened among the central bank’s officials, with two policymakers, both Trump appointees, signaling in recent days they would consider cutting rates in July.
Powell’s remarks before the House Financial Services Committee came on the heels of the Fed’s decision last week to stay on hold. He reiterated his view that policymakers need not rush to adjust policy, a counter to recent statements from Fed Governors Christopher Waller and Michelle Bowman that signaled the two would be open to lowering rates as soon as July.
U.S. oil prices dropped 6%, extending Monday’s slide, and are now below where they stood when fighting kicked off earlier this month.
OVERVIEW OF THE AUSTRALIAN MARKET
On June 24, 2025, the Australian share market posted a strong rebound, following positive momentum from Wall Street.
The S&P/ASX 200 Index rose by 0.7%, or 62 points, to close at approximately 8,537 points.
This gain came after a modest decline the previous day, when the index fell 0.35% to 8,474.9 points.
The rally was supported by a broad lift in sentiment, particularly after U.S. markets closed higher (Dow +0.9%, S&P 500 +0.95%, Nasdaq +0.95%).
However, energy stocks faced pressure due to a sharp drop in oil prices (WTI down 8.3%, Brent down 8.2%), affecting companies like Santos (STO) and Karoon Energy (KAR).
Qantas (QAN) was in focus as Virgin Australia returned to the ASX via IPO at $2.90 per share, raising $685 million.
Collins Foods (CKF) also drew attention with its earnings report, showing a 2% revenue rise but a 26.1% drop in net profit.