Stocks rose as ceasefire held between Iran and Israel, economic data supported potential rate cut

From Nasdaq: 2025-06-27 09:17:00

U.S. stocks closed higher on Thursday, with the S&P 500 inching closer to a new record high as the ceasefire between Iran and Israel continued to hold, and economic data supported a potential rate cut by the Federal Reserve. The Dow Jones Industrial Average jumped 0.9%, the S&P 500 rose 0.8%, and the Nasdaq climbed 1%.

The S&P 500 is on track to hit new highs, with major sectors like communication services, consumer discretionary, materials, and industrials posting gains. The tech-heavy Nasdaq is also rallying, driven by enthusiasm around artificial intelligence. Economic data released on Thursday raised hopes for a rate cut, with GDP shrinking 0.5% in Q1.

Tech stocks like NVIDIA, Apple, and Salesforce saw gains as the Nasdaq surged. Economic data, including jobless claims, durable goods orders, and pending home sales, supported the case for a rate cut. The ceasefire between Iran and Israel held, easing fears of a Wall Street bloodbath. The S&P 500 closed just points away from its all-time high.

Zacks’ Research Chief Picks Stock Most Likely to “At Least Double”, revealing their Top 5 recommendations with money-doubling potential. Director of Research Sheraz Mian believes one pick could surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See the top stock to double and download 7 Best Stocks for the Next 30 Days for free.



Read more at Nasdaq: Stock Market News for Jun 27, 2025