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Informist, Friday, Jun. 12, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices soar as Trump calls off attacks on Iran

 

MUMBAI--0742 IST--Indices on Wall Street soared as buying in technology stocks resumed. Market participants cheered US President Donald Trump's statement cancelling his plans to strike Iran. The Dow Jones Industrial Average and the S&P 500 ended nearly 2% higher each while the technology-heavy NASDAQ Composite ended 2.5% higher. Only three of the 11 S&P 500 sectoral indices lost during the trading session. 

 

"I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved," Trump said in a post on Truth Social.   

 

Shares of Micron Technology rose nearly 12%, Advanced Micro Devices 8%, Intel Corp. 9%, Qualcomm 6%, and those of Broadcom 4%. After Trump's announcement indicating a de-esclation in the war with Iran, aviation majors United Airlines Holdings and Boeing Co. advanced 10% and 6% respectively. On other hand, energy majors Exxon Mobil Corp. and Chevron Corp. fell around 2?ch; the S&P 500 Energy index was also down 2%.  

 

Elon Musk-led SpaceX announced the price of its initial public. The price for the largest-ever IPO has been set at $135 apiece and the company plans to raise $75 billion by selling 555.56 million shares. Just a day before SpaceX was to start trading, shares of Tesla were up almost 5%. Over the week, Tesla has been quite volatile. From the start of the week till Wednesday, Tesla stock was down 2% but after Thursday's recovery trade, it gained 2% for the week. There were concerns that some investors sold some of their shares in the electric vehicle maker to put in money into SpaceX.

 

On the macroeconomic front, the Producer Price Index rose 6.5% on year in May, higher than the 5.7% increase witnessed in April. Producer prices in the US rose the most in more than three years. On month-on-month basis, pices rose 1.1%, unchanged from April. This was higher than the 0.7% rise projected by Reuters. 

 

"The Fed is clearly missing its inflation target by a lot more than it is missing its employment objective," John Ryding, chief economic advisor at Brean Capital, told the media agency. "The PPI report should further embolden those on the FOMC (Federal Open Market Committee) who think a rate hike might be needed later in the year," Ryding said. US consumer prices for May had risen 4.2% on year in May. 

 

Further, the number of Americans applying for fresh unemployment claims rose by 4,000 in the week ended Jun. 6 to 229,000. Economists polled by Reuters had projeceted claims to rise to 219,000 for this week. While the data does not ring alarm bells about the health of the labour market, a continous rise in initial jobless claims could raise concerns.

 

The following were the closing levels of major US indices on Thursday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50848.75	1.86
NASDAQ Composite	25809.66	2.54
S&P 500	7394.30	1.75

 

(Ruchira Kagita)

 

US$1 = INR 95.76

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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