S&P 500 Index Today: SPX Nears All-time High on Israel-Iran Ceasefire

The S&P 500 (SPX) is about 1% away from its all-time high following a ceasefire between Israel and Iran brokered by President Trump.

“Both Israel and Iran wanted to stop the War, equally! It was my great honor to Destroy All Nuclear facilities & capability, and then, STOP THE WAR!” said Trump. He had earlier criticized both nations for violating the ceasefire, although the fighting has since come to a halt with Iran partially reopening its airspace and Israel preparing a full reopening.

On the other hand, U.S. consumer confidence showed that Americans are still concerned about tariffs and inflation. The Conference Board’s (TCB) June Consumer Confidence Index tallied in at 93.0, below the estimate for 99.8 and decreasing from 98.4 in May. Furthermore, the 12-month average inflation expectation is still high at 6.0%, although it fell from 6.4% in May and 7.0% in April.

“Tariffs remained on top of consumers’ minds and were frequently associated with concerns about their negative impacts on the economy and prices,” said TCB Senior Economist, Global Indicators Stephanie Guichard.

The S&P 500 is up by 1.12% at the time of writing.

Which Stocks are Moving the S&P 500?

Let’s take a look at TipRanks’ S&P 500 Heatmap, which illustrates the stocks that have contributed to the index’s price action.

Chip stocks, like Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) are leading the charge. AMD in particular has shown extremely strong price action since its Advancing AI 2025 event on June 12 and is up by about 16% since.

Meanwhile, Tesla (TSLA) is in the red following its Robotaxi debut on Sunday. Videos have circulated online of Robotaxi driving errors, with the National Highway Traffic Safety Administration (NHTSA) taking notice.

Energy stocks, Exxon Mobil (XOM) and Chevron (CVX), are trading lower alongside lower crude oil futures, which are down by about 6% as a result of the Israel-Iran ceasefire.

SPY Stock Moves Higher with the S&P 500

The SPDR S&P 500 ETF (SPY) is an exchange-traded fund designed to track the movement of the S&P 500. As a result, SPY moves in correlation with the SPX.

Wall Street expects further upside for SPY. During the past three months, analysts have issued an average SPY price target of $658.09 for the stocks within the index, implying upside of 8.46% from current prices. The 504 stocks in SPY carry 421 buy ratings, 74 hold ratings, and 9 sell ratings.