Stock Market Update: June 24, 2025
Major U.S. stock indices rose on Tuesday, June 24, 2025, amid a ceasefire between Israel and Iran and Federal Reserve Chairman Jerome Powell's testimony before the House Financial Services Committee.
On Tuesday, June 24, 2025, major U.S. stock indices experienced gains. The Dow Jones Industrial Average increased by 305 points (0.7%), the S&P 500 rose by 0.7%, and the Nasdaq Composite advanced by 1%. Concurrently, oil prices declined for the second consecutive day, with U.S. crude oil falling over 4%, following a more than 7% decrease the previous day. Airline stocks, including United Airlines, Frontier, and Delta, each rose by more than 2%. Technology companies Broadcom and Nvidia saw increases of 4% and 1%, respectively. These market movements occurred amid a ceasefire between Israel and Iran, which took effect early Tuesday morning. Both nations have accused each other of violating the agreement. Israeli forces reported an attack on a radar system near Tehran, though this report has not been independently verified. President Donald Trump stated on Truth Social that 'ISRAEL is not going to attack Iran,' emphasizing that the ceasefire remains in effect. He expressed dissatisfaction with both parties for alleged breaches of the agreement. Investors also considered remarks from Federal Reserve Chairman Jerome Powell before the House Financial Services Committee. Powell indicated that the central bank is not in a hurry to cut interest rates and will assess the impact of recent tariffs on the economy. His testimony comes amid discussions within the Federal Reserve about potential rate adjustments as early as July.
