{"id":2058,"date":"2026-06-15T18:09:35","date_gmt":"2026-06-15T18:09:35","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2058"},"modified":"2026-06-15T18:09:35","modified_gmt":"2026-06-15T18:09:35","slug":"dow-hits-record-high-on-us-iran-deal-optimism-oil-prices-slide","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2058","title":{"rendered":"Dow hits record high on US-Iran deal optimism, oil prices slide"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 15 (Reuters) &#8211; Wall Street&#8217;s main indexes rose on Monday, with \u200bthe Dow touching an intraday high after the United States and Iran struck a preliminary agreement to end the Middle East war and reopen the \u200cStrait of Hormuz, leading to a sharp fall in crude prices.<\/div>\n<div>The deal framework, however, did not address key issues such as Tehran&#8217;s nuclear program and the Israel-Lebanon conflict. The pact is expected to be formally signed in Switzerland on Friday.<\/div>\n<div>Crude prices plummeted 5% following the news and hit their lowest level since March, aiding shares of energy-sensitive airline and cruise stocks and hurting energy shares.<\/div>\n<div>United Airlines (UAL.O)<svg><\/svg><span>, opens new tab<\/span> rose 5.4%, \u200bwhile Delta Air Lines and American Airlines (AAL.O)<svg><\/svg><span>, opens new tab<\/span> added 2.2% and 4.4%, respectively. Norwegian Cruise (NCLH.N)<svg><\/svg><span>, opens new tab<\/span> and Carnival Corp (CCL.N)<svg><\/svg><span>, opens new tab<\/span> advanced about 4% each.<\/div>\n<div>Shares \u200bof oil majors Exxon Mobil (XOM.N)<svg><\/svg><span>, opens new tab<\/span> and Chevron (CVX.N)<svg><\/svg><span>, opens new tab<\/span> fell almost 4% each. The S&amp;P 500 energy index (.SPNY)<svg><\/svg><span>, opens new tab<\/span> was down 3.4%.<\/div>\n<div>The CBOE Volatility Index (.VIX)<svg><\/svg><span>, opens new tab<\/span>, Wall \u2060Street&#8217;s fear gauge, slipped to a more than one-week low at 16.35 points. It had risen to a more than two-month high the previous \u200bweek.<\/div>\n<div>The three main indexes were on track for a third consecutive session of gains, recovering after geopolitical tensions and a pullback in AI-related stocks halted \u200bWall Street&#8217;s record climb.<\/div>\n<div>&#8220;For markets, the Strait is the only thing that matters because its blockage was most pernicious for the global economy,&#8221; said Thierry Wizman, global forex and rates strategist at Macquarie Group.<\/div>\n<div>Memory chipmakers were at record highs, with Micron (MU.O)<svg><\/svg><span>, opens new tab<\/span> soaring 9.2% after multiple brokerages raised its price targets.<br \/>\nThe Philadelphia SE Semiconductor index (.SOX)<svg><\/svg><span>, opens new tab<\/span> hit \u200ba record high and rose 4.5%, with chip giant Nvidia (NVDA.O)<svg><\/svg><span>, opens new tab<\/span> up 3%.<br \/>\nSeven of the 11 major S&amp;P 500 sectors were in the green, with \u200bthe S&amp;P 500 tech index (.SPLRCT)<svg><\/svg><span>, opens new tab<\/span> leading the advance with a 3.1% gain.<\/div>\n<div>A resumption of oil flows from the Middle East and easing crude prices could give the U.S. Federal \u200cReserve, which \u2060is grappling with inflation, room to hold interest rates steady instead of raising borrowing costs.<\/div>\n<div>&#8220;From a central bank perspective, this is more likely to discourage any major policy changes going forward, especially given that the shifts under consideration earlier were toward raising interest rates,&#8221; Wizman said.<\/div>\n<div>Last week&#8217;s inflation data showed higher energy costs filtering into consumer inflation for May, sharpening focus on the Fed&#8217;s outlook at its policy meeting, due later this week, which will be \u200bChair Kevin Warsh&#8217;s first since taking \u200bcharge.<\/div>\n<div>Traders expect the Federal Reserve to \u2060leave interest rates unchanged this week, but have pared back expectations for a 25-basis-point hike by the end of the year to 70%, from fully priced in the previous week, according to LSEG data.<\/div>\n<div>At 11:24 a.m. ET, \u200bthe Dow Jones Industrial Average (.DJI)<svg><\/svg><span>, opens new tab<\/span> rose 647.45 points, or 1.26%, to 51,849.71, the S&amp;P 500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> gained 128.90 \u200bpoints, or 1.73%, to \u20607,560.36, and the Nasdaq Composite (.IXIC)<svg><\/svg><span>, opens new tab<\/span> added 694.46 points, or 2.69%, to 26,583.30.<\/div>\n<div>SpaceX&#8217;s (SPCX.O)<svg><\/svg><span>, opens new tab<\/span> shares were up almost 8% after the Elon Musk-led firm ended its blockbuster IPO with a more than $2 trillion valuation.<\/div>\n<div>Markets were relieved by the smooth trading during its landmark Nasdaq launch, setting a new template for companies and exchanges bracing for the highly anticipated OpenAI and Anthropic IPOs expected later this year.<\/div>\n<div>In other movers, Fox (FOXA.O)<svg><\/svg><span>, opens new tab<\/span> \u2060tumbled 16.7% after \u200bthe company said it would buy Roku (ROKU.O)<svg><\/svg><span>, opens new tab<\/span> in a $22 billion deal.<br \/>\nAdvancing issues outnumbered decliners \u200bby a 2.31-to-1 ratio on the NYSE and a 2.21-to-1 ratio on the Nasdaq.<\/div>\n<div>The S&amp;P 500 posted 38 new 52-week highs and three new lows, while the Nasdaq Composite recorded \u200b178 new highs and 51 new lows.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2057\">Anthropic becomes a cautionary sovereign-AI fable<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2055\">Amateur saboteurs: the young men carrying out attacks for gangs, Russia and Iran<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2053\">Law firms loved diversity, until it became a liability<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street&#8217;s main indexes rose on Monday, with \u200bthe Dow touching an intraday high after the United States and Iran struck a preliminary agreement to end the Middle East war and reopen the \u200cStrait of Hormuz, leading to a sharp fall in crude prices.<\/p>\n","protected":false},"author":1,"featured_media":1800,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[54],"class_list":["post-2058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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