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Jun 26, 2025
Wall Street stabilizes as calm returns
Markets show cautious optimism for post-summer outlook
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US markets opened today with relative stability, supported by the return of relative calm to the Middle East following the announcement of an informal truce between Israel and Iran. This temporary cessation of military operations eased concerns about escalating tensions, positively impacting global investor sentiment. On Wall Street, the Nasdaq maintained its positive momentum, supported by strong performance from technology stocks, while the S&P 500 and Dow Jones traded in narrow ranges as markets awaited the continuation of Federal Reserve Chairman Jerome Powell's testimony before Congress. |
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Speaking yesterday, Powell indicated that current monetary policy is "sufficiently accommodative" and may remain so for some time, suggesting interest rates may be left unchanged in upcoming meetings. This has supported a "buy-on-the-dip" sentiment in the US market.
This comes at a time when warnings of a potential "summer recession" are increasing in global markets, with the onset of the holiday months, declining liquidity, and the return of volatility in oil prices.