16.06.202615:39:47UTC+00US Stocks Trade Mixed

US equities ended Tuesday mixed, as broad-based gains driven by the US–Iran agreement were offset by renewed weakness in AI infrastructure stocks. The S&P 500 slipped just below the flatline, while the Dow Jones Industrial Average climbed 400 points to a fresh record high. In contrast, technology losses weighed on the Nasdaq, which declined 1.3%.

Despite lingering inconsistencies in the terms, Washington and Tehran are still expected to sign the deal on Friday, with US officials indicating that the Strait of Hormuz will reopen. The progress on the agreement pushed bond yields lower, easing some pro‑inflation concerns ahead of the Federal Reserve’s widely anticipated decision to hold rates steady on Wednesday. However, Chair Warsh is likely to continue advocating for reforms to the Fed’s monetary policy framework and a reduction in the balance sheet.

In corporate action, JPMorgan rose 3.2% and Visa added 2%. SpaceX surged 8%, extending its gain to 40% since its IPO on Friday, after announcing plans to acquire Cursor in a $60 billion deal. By contrast, investors took profits in speculative chip-maker positions: Broadcom, Micron, AMD, and Intel each fell as much as 6%, while Nvidia declined 2%.