New York Stock Market: Industrials and Tech Stocks Lead Gains; Oil Prices Fall

New York stock market report.

The Dow Jones Industrial Average reached an all-time high, while the Nasdaq surged over 3% to surpass the 26,000 mark, and the S&P 500 rose by more than 1%.

By sector, industrials and technology stocks led the market rally, each climbing 3% as geopolitical risks eased.

Investor sentiment in New York surged today following news of the electronic signing of a memorandum of understanding (MOU) to end the conflict between the U.S. and Iran.

As U.S. President Donald Trump announced that peace negotiations with Iran were effectively finalized and that the Strait of Hormuz had been partially reopened, geopolitical tensions subsided, causing international oil prices to drop to their lowest level in three months.

Brent crude was recorded at the $83 per barrel level, and West Texas Intermediate (WTI) fell 4.8% to reach the $80 per barrel mark.

While the decline in oil prices has fueled optimism that pressure on the Federal Reserve for additional interest rate hikes will ease, concerns remain regarding the undisclosed details of the agreement and ongoing disagreements over potential toll collection for passage through the Strait of Hormuz.

Among major stocks, SpaceX continued its rally with a nearly 20% surge, following a 19% jump on its first day of trading. AI semiconductor stocks, which had recently undergone a correction, rebounded across the board, with memory chipmaker Micron surging 10%.

Market attention is now shifting to the Federal Open Market Committee (FOMC) meeting scheduled for June 17.

Wall Street is particularly focused on the first monetary policy message to be delivered by the new Federal Reserve Chair, Kevin Warsh.
※ Please note: This article was translated by AI and may contain errors.