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U.S. stock index futures surged on Tuesday following President Donald Trump\u2019s announcement of a ceasefire between Israel and Iran, offering investors some much-needed relief after 12 days of escalating conflict in the Middle East. The announcement calmed market jitters that had weighed on global risk assets and stoked inflation fears.<\/p>\n\n\n\n
Market Reactions to the Ceasefire<\/strong><\/p>\n\n\n\n While the ceasefire appeared to bring optimism to markets, tensions still simmered as Israel’s Defense Minister, Israel Katz<\/strong>, reported that Iranian missiles were fired in violation of the agreement. He ordered military action in response, while Iran denied the accusations. The uncertainty surrounding the ceasefire kept markets on edge.<\/p>\n\n\n\n Oil Prices Retreat Amid Easing Supply Concerns<\/strong><\/p>\n\n\n\n Focus Shifts to Powell\u2019s Testimony and Economic Data<\/strong><\/p>\n\n\n\n This week, all eyes will also be on the Commerce Department\u2019s final read on first-quarter GDP<\/strong> and Personal Consumption Expenditures (PCE)<\/strong> data, key indicators of economic health. Consumer confidence data for June will also be released at 10:00 a.m. ET.<\/p>\n\n\n\n Growth Stocks and Crypto Rally<\/strong> Shares of crypto companies<\/strong> also benefitted from the market rebound, with Coinbase Global<\/strong> (NASDAQ: COIN) up 3.2% and Strategy<\/strong> advancing by 1.8%. Bitcoin<\/strong> hit a one-week high, further bolstering investor sentiment in the digital currency space.<\/p>\n\n\n\n Lastly, FedEx<\/strong> (NYSE: FDX) shares rose nearly 1% ahead of its quarterly results, which are due after the closing bell.<\/p>\n\n\n\n As market sentiment improves, all eyes are on Powell’s upcoming testimony and the broader economic data expected to guide the Fed\u2019s next steps in the face of ongoing geopolitical and inflationary concerns.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock index futures surged on Tuesday following President Donald Trump\u2019s announcement of a ceasefire between Israel and Iran, offering investors some much-needed relief after 12 days of escalating conflict in the Middle East. The announcement calmed market jitters that had weighed on global risk assets and stoked inflation fears. Market Reactions to the Ceasefire …<\/p>\n","protected":false},"author":9,"featured_media":31017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,39,36],"tags":[7722,11257,6887,6862],"class_list":["post-115784","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-global-stock-markets","category-market-updates","tag-job-growth","tag-nfp-report","tag-unemployment","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=115784"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115784\/revisions"}],"predecessor-version":[{"id":115786,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/115784\/revisions\/115786"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31017"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=115784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=115784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=115784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The news of the ceasefire led to a temporary rally in equities, with the Dow E-minis<\/strong> up by 326 points, or 0.76%, S&P 500 E-minis<\/strong> rising 53.5 points, or 0.88%, and Nasdaq 100 E-minis<\/strong> advancing 252.75 points, or 1.15%. Despite this, the S&P 500<\/strong> remains about 2% below its record high.<\/p>\n\n\n\n
Oil prices dropped to their lowest levels in two weeks, with supply concerns prompted by the Middle East conflict beginning to ease. Brent crude and WTI futures fell sharply, pulling down major U.S. energy stocks in premarket trading. Chevron<\/strong> (NYSE: CVX) and ExxonMobil<\/strong> (NYSE: XOM) were both down by around 1% and 1.7%, respectively.<\/p>\n\n\n\n
As the geopolitical situation begins to stabilize, attention is now turning to Federal Reserve Chair Jerome Powell\u2019s<\/strong> testimony before Congress at 10:00 a.m. ET. Investors are eager for insights into the Fed\u2019s near-term interest rate plans, particularly after Fed policymaker Michelle Bowman<\/strong> suggested that a rate cut as soon as July could be a possibility. Additionally, Fed Board Governor Michael Barr<\/strong> and Fed Minneapolis President Neel Kashkari<\/strong> are set to speak later in the day, further fueling speculation about future monetary policy.<\/p>\n\n\n\n
Meanwhile, megacap<\/strong> and growth stocks<\/strong> saw positive movement, with Tesla<\/strong> (NASDAQ: TSLA) leading the charge, up 2.7%. Google-parent Alphabet<\/strong> (NASDAQ: GOOGL) rose 1.5%, while Amazon.com<\/strong> (NASDAQ: AMZN) gained 1.8%.<\/p>\n\n\n\n