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Dow Set for New Record as Iran Peace Deal Lifts Markets
The S&P 500 and Nasdaq are also rallying.
Last Updated:
June 15, 2026 at 11:57 AM ET
Key Events
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Pinned Post
Updated 3 min ago
The Momentum Rally Is Back. Mag 7 Stocks Are Finally Joining the Party.
By
The Iran-U.S. deal gave Wall Street a green light to pile into risk assets and chase momentum, and lagging Magnificent Seven stocks were in on the action this time.
The Dow rose 700 points, or 1.4%. The S&P 500 jumped 1.9%. The Nasdaq gained 2.9%.
The Invesco S&P 500 High Beta ETF surged 3.7%, while the Invesco S&P 500 Momentum ETF jumped 3%. Growth, tech, and small-cap focused funds were also celebrating the plan to reopen the Strait of Hormuz.
The Roundhill Magnificent Seven ETF, which has traded sideways over the past six months despite a broader rally in highflying chip stocks, was up 2.4%. Meta Platforms led the group with a 4.6% gain; Amazon.com rose 3.2%; Alphabet and Microsoft rose more than 2%; Nvidia and Apple rose 1.6%; Tesla was up 0.9%.
“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” President Trump said on Truth Social. “They are going along the Southern ‘Highway,’ which is totally safe, secure, and pristine.”
Brent crude oil futures tumbled 5.3% to $82.72 a barrel, while WTI crude fell 3.6% to $74.64 a barrel.
With a major geopolitical headwind seemingly coming off the table, Wall Street will turn its attention back to expectations for broader earnings growth and the path forward for interest rates. Kevin Warsh's first two-day FOMC meeting as Fed chairman begins tomorrow.
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