U.S. stock futures were steady early Wednesday as investors watched to see if the S&P 500 (SPX) index would reclaim its record high. Futures on the Nasdaq 100 (NDX) and the Dow Jones Industrial Average (DJIA) were up 0.03% and 0.02%, respectively, at 4:13 a.m. EST, June 25, while the S&P 500 futures were down 0.01%.
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Israel and Iran have finally agreed to a ceasefire, helping lift U.S. stocks on Tuesday. This ceasefire is the latest challenge that markets have managed to move past this year. While there are still concerns about rising inflation from tariffs and how strong consumer spending will be, stocks have continued to bounce back from recent dips.
In Tuesday’s regular trading, the S&P 500 climbed 1.11% as oil prices fell amid optimism that the ceasefire would last. The index is now trading less than 1% below its record high. Meanwhile, the Nasdaq Composite gained more than 1%, and the Dow Jones climbed more than 500 points.
In after-hours trading, logistics giant FedEx (FDX) shares dropped more than 5% on soft forward guidance. Meanwhile, BlackBerry (BB) stock gained over 9% after the Canadian tech company posted quarterly results that topped Wall Street forecasts.
In key economic reports today, investors will watch for new home sales data in the morning and also keep an eye on Fed Chair Jerome Powell’s testimony before the Senate Banking Committee.
On the earnings front, consumer staples firm General Mills (GIS), payroll services provider Paychex (PAYX), and semiconductor company Micron (MU) are set to report results today.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.29%. Simultaneously, WTI crude oil futures are trending higher, hovering near $65.5 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price climbed to nearly $3,336 per ounce on Wednesday.
Elsewhere, European stocks opened slightly higher today, with investors welcoming signs of de-escalation in the Middle East.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed on Wednesday as investors weighed the Israel-Iran ceasefire and new comments from the U.S. Federal Reserve.
Hong Kong’s Hang Seng Index was up 1.28%. Also, Japan’s Nikkei and Topix indices climbed 0.39% and 0.03%, respectively. At the same time, China’s Shanghai Composite and Shenzhen Component indices closed higher by 1.04% and 1.72%, respectively.
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