24.06.202513:38:51UTC+00US Stocks Extend Gains

On Tuesday, U.S. stocks experienced an uptick as tensions between Israel and Iran appeared to ease, bolstering confidence in the steady flow of oil through the Persian Gulf, thus benefiting U.S. equities. The S&P 500 and the Dow Jones both rose approximately 0.8%, while the Nasdaq 100 increased by 1%, nearing its record high from February. In a day marked by restraint, Iranian and Israeli officials refrained from promising retaliation over minor skirmishes, fostering hope for de-escalation facilitated by President Trump. At the same time, oil prices continued their downward trend amid indications that the Strait of Hormuz remains unaffected by the ongoing conflict. On the policy side, Federal Reserve Chair Jerome Powell emphasized a cautious approach to cutting interest rates until there is clearer insight into the effects of tariffs. Technology stocks were at the forefront of gains, spurred by improving risk sentiment, with Nvidia, Alphabet, and Meta each advancing over 1.5%. Additionally, Starbucks shares climbed 2% following its announcement countering reports by Caixin, asserting that it has no plans to divest its operations in China.