Stock market news for June 16, 2026

The Dow Jones Industrial Average rose to a report excessive on Tuesday as buyers rotated out of chipmakers and into cyclical shares amid declining oil costs.

The 30-stock index superior 328.64 factors, or 0.64%, for a report shut of 51,999.67. It scored a brand new all-time intraday excessive of 52,190.29 within the session. The S&P 500 fell 0.57% and ended at 7,511.35, whereas the Nasdaq Composite pulled again 1.15% to 26,376.34.

Pulling down the tech-heavy Nasdaq, various chip shares suffered losses Tuesday. Advanced Micro Devices dropped greater than 7%, whereas Broadcom fell 4%. Micron Technology shed 6%. Nvidia misplaced greater than 2%.

Elsewhere, oil costs extend their drop from the prior buying and selling day. Brent crude futures fell 5.06% to shut at $78.96 a barrel. U.S. West Texas Intermediate futures declined 5.82% to $76.05 a barrel. It was the primary settle under $80 a barrel for each since early March.

As oil dipped additional, shares of Caterpillar led industrials increased, whereas JPMorgan Chase was a pacesetter amongst banks increased as buyers wager that decrease power costs will spur a re-acceleration within the US financial system. Caterpillar was up greater than 1%, whereas JPMorgan superior greater than 3%.

SpaceX additionally continued to be a standout with its practically 5% pop, a transfer that added to its sharp positive aspects since going public final week. With its positive aspects, SpaceX had at one level surpassed both Microsoft and Amazon in market cap in the course of the session. The firm priced its preliminary public providing at $135. It closed at $201.80.

The main averages are constructing on a successful session from Monday, which occurred on the heels of President donald trump saying that the US and Iran had reached a deal to end the war within the Middle East. Pakistani Prime Minister Shehbaz Sharif mentioned that each side have declared the termination of their military operations on all fronts, with an official signing ceremony to happen this Friday in Switzerland.

Trump additionally mentioned that the important thing Strait of Hormuz passageway would reopen on Friday, sending oil prices down practically 5% on Monday. I’ve later clarified Tuesday that the strait will remain toll free past the initial 60-day period.

“We’re not out of the woods yet,” mentioned Andy Goldberg, chief funding strategist at Nomura Asset Management International.

“If all of a sudden oil prices were to come down quickly, the headline inflation number will come down, but at the same time, it’ll put a lot of money back in consumers’ pockets right at a time where they’re feeling pretty good, and that’s how you can get some more inflation,” he added. “[Federal Reserve Chair Kevin] Warsh has a balancing act on his hands.”