From Nasdaq: 2025-06-25 12:54:00

The S&P 500, Dow Jones, and Nasdaq indexes are mixed, with the S&P 500 hitting a 4-month high and Nasdaq 100 reaching an all-time high. Market sentiment improved due to reduced Middle East tensions, but stocks dipped after weak May new home sales data. The US plans to hold a meeting with Iran next week.

US MBA mortgage applications rose 1.1%, with purchase mortgages down 0.4% and refinancing up 3.0%. The average 30-year fixed mortgage rate increased by 4 bp to 6.88%. May new home sales fell by 13.7% to a 7-month low of 623,000, missing expectations.

Kansas City Fed President Schmid believes the current “wait and see” policy stance is appropriate. This week, markets will monitor the Israel-Iran ceasefire and await news on tariffs and trade deals. Economic data releases include Q1 GDP, unemployment claims, personal income, and more.

The market predicts a 21% chance of a -25 bp rate cut at the July FOMC meeting. Overseas markets are mixed, with Euro Stoxx 50 down 0.53%, Shanghai Composite up 1.04%, and Nikkei Stock 225 up 0.39%. Bond yields are up, with the 10-year T-note yield at 4.328%.

Chip stocks are driving gains in the Nasdaq 100 and Dow Jones Industrials. Advanced Micro Devices and Nvidia lead gains. Super Micro Computer, Symbotic, and Stellantis NV are also up. Yum! Brands, Alphabet, and Coinbase Global see gains, while Paychex and Tesla are down.

FedEx forecasts weaker Q1 EPS, leading to a -2% decline. QXO Inc. announces a public offering, causing a -6% drop. General Mills reports lower-than-expected net sales, resulting in a -3% decline. NuScale Power Corp and WEC Energy also see declines. Earnings reports for various companies are due on June 25.



Read more at Nasdaq: Stocks See Support as Reduced Middle East Tensions Sparks Risk-on