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Informist, Wednesday, Jun. 17, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US mkts mixed; Dow Jones hits new high, chip cos pull Nasdaq dn

 

MUMBAI--0745 IST--US indices ended mixed on Tuesday as oil prices continued to decline on expectations of the US and Iran finalising their peace deal. Some investors moved out of technology stocks in preference of cyclical stocks. While the blue-chip Dow Jones Industrial Average touched a new intraday high and ended higher, its tech-heavy peer Nasdaq ended lower, as did the S&P 500.

 

Oil prices continued to fall and closed at their lowest levels since Mar. 2. At 0741 IST, Brent crude futures were at $78.98 per barrel, flat from Tuesday, having shed over 15% this week. US President Donald Trump had said that the Strait of Hormuz will reopen on Friday and will be toll-free. "We're not out of the woods yet," Andy Goldberg, chief investment strategist at Nomura Asset Management International told CNBC. "If all of a sudden oil prices were to come down quickly, the headline inflation number will come down, but at the same time, it'll put a lot of money back in consumers' pockets right at a time where they're feeling pretty good, and that's how you can get some more inflation," he added. "[Federal Reserve Chair Kevin] Warsh has a balancing act on his hands."

 

Wednesday's Federal Open Market Committee meeting will be the first with Kevin Warsh as the chairman of the US Federal Reserve. Investors are largely expecting the central bank to keep interest rates unchanged in a target range of 3.5% to 3.75%.

 

As oil prices slid, construction major Caterpillar led the gains among industrials and closed over 1% higher, according to the CNBC report. Meanwhile, JPMorgan Chase led the gains among banks, ending nearly 4% higher. The stock rose amid investor expectations that lower energy prices would trigger a re-acceleration in the US economy. Elon Musk's SpaceX continued its rally since going public and ended nearly 5% higher at $201.80 per share, up nearly 50% from its issue price of $135 per share.

 

On the other hand, chip stocks suffered losses on Tuesday. Sector giant Nvidia ended more than 2% lower, while peers Advanced Micro Devices, Broadcom, and Micron Technology ended 4–7% lower.

 

Following were the closing levels of US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51999.67	0.64
NASDAQ Composite	26376.34	(-)1.15
S&P 500	7511.35	(-)0.57

 

(Shruti Nair)

 

US$1 = INR 94.56

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

 

Edited by Avishek Dutta

 

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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