Dow Jones rebounds on news of ceasefire between Israel and Iran
From Investing.com: 2025-06-24 09:18:00
U.S. stocks are rising after President Trump announced a ceasefire between Israel and Iran, calming fears after the 12-day conflict hit global risk sentiment, which has fueled inflation worries. News of a violation of the ceasefire hasn’t disrupted the buoyant market mood. Attention is also on Fed Chair Powell, who testifies later today. US Futures: 0.63% at 42,850, 0.68% at 6065, 0.98% at 22058. In Europe: 0.3% at 8788, 1.7% at 23670. US stocks rally after Trump announced an Iran-Israel ceasefire. Investors shrug off news of a violation of the ceasefire. Tesla extends gains after robotaxi launch. Oil slumps as the risk premium falls. Israel-Iran Ceasefire Lifts Risk Sentiment.
Trump’s announcement of a ceasefire came after the US bombed Iranian nuclear facilities over the weekend. However, hours after the ceasefire declaration, missiles have been fired in violation of the agreement. Even so, the market mood remains buoyant, suggesting the market is not fearful of the conflict broadening out. Investors await Federal Reserve Chair Jerome Powell’s testimony for clues on rate cuts. Market pricing in rate cuts before the end of the year. Tesla launches robotaxi service in Austin. Oil stocks fall after ceasefire prompts sell-off in oil. Crypto stocks rise.
Dow Jones attempts to break out of holding pattern. Selloff found support at 41,750, rebounded higher, testing 42,850 resistance. Buyers aim to push above 42,850. Sellers need to break below 41,750 for lower low. USD falls as safe-haven flows unwind. German business morale improves. GBP/USD rises as UK grocery inflation jumps to highest level since last year. Oil drops over 3.5% to $65 a barrel after ceasefire news between Israel and Iran. Ceasefire reduces likelihood of conflict broadening out and affecting supply. Market monitoring developments closely.
Read more at Investing.com: Dow Jones Forecast: DJIA Rebounds on Ceasefire News and Despite Violation Claims