U.S. Stocks Surge, Dow Rises Over 500 Points to Hit Record High; Market Bets on U.S.-Iran Agreement and Energy Price Pullback

BlockBeats News, June 15th, the US stock market rose on Monday, kicking off the shortened trading week due to the holiday. Boosted by progress towards a potential resolution of the US-Iran conflict, all three major indices saw gains, with the Dow rising 516 points (+1%), hitting a new intraday record high; the S&P 500 rose 1.5%, and the Nasdaq rose 2.3%.

On the individual stock front, SpaceX continued its strong performance from the first day, surging over 8% on the second trading day, following a 19% surge on its IPO debut.

Market sentiment was lifted by US President Trump's announcement of a "resolution to the US-Iran conflict." Reports suggest that a relevant memorandum of understanding is expected to be signed in Switzerland this Friday. The news boosted risk appetite, leading to a drop in oil prices, with US crude oil prices briefly falling about 5% to around $80 per barrel.

US Vice President Pence stated that the Strait of Hormuz is expected to "reopen in an unobstructed manner in the long term," further strengthening expectations for energy supply improvement. Analysts pointed out that the decline in oil prices would help alleviate inflationary pressures and enhance market expectations for the Fed to keep rates unchanged this week. According to the CME FedWatch tool, the market's probability of the interest rate remaining unchanged at this meeting has exceeded 98%.