Wall Street pauses near records as the Fed looms and SpaceX continues to defy gravity

Proactive

Tue, June 16, 2026 astatine 6:34 AM CDT 1 min read

Ding, dong and morning, folks

Wall Street looks acceptable to drawback its enactment connected Tuesday aft a record-setting run, arsenic the giddy absorption to bid with Iran gives mode to harder questions astir lipid and the Federal Reserve.

Dow futures ticked up 0.1% aft Monday's all-time closing high, with the S&P 500 level and the Nasdaq 100 up 0.2%.

The temper euphony is inactive upbeat, conscionable little euphoric than Monday's solemnisation of the US-Iran accord.

The acold water? Reopening the Strait of Hormuz, promised for Friday, looks thing but simple, and traders are warned it could instrumentality months for lipid to travel freely again.

The deal's tiny people has yet to land, though Washington says commercialized ships tin usage the waterway toll-free.

That leaves a messy backdrop for the Fed, which starts its two-day gathering contiguous with ostentation moving hot, May's speechmaking deed 4.2%, the highest since 2023, arsenic the warfare with Iran stoked vigor prices.

Japan's cardinal slope has already blinked, lifting rates to a 31-year high.

No 1 expects a determination from the Fed connected Wednesday, the archetypal telephone nether Trump's prime Kevin Warsh, but eyes are connected the "dot plot" for hints that hikes are coming.

And SpaceX (NASDAQ:SPCX)? Up different 10% earlier the bell, connected people to leapfrog Amazon into 5th spot among the world's biggest companies.