Dow record, SpaceX rally, Federal Reserve decision 2026
Key takeaways
- Monday s session saw the Dow finish up 468.77 points, or 0.92%, notching both an intraday and closing record, while the S&P 500 added more than 1% and the Nasdaq Composite surged 3.1%.
- Monday s gains came after President Donald Trump announced a deal between the U.S. and Iran.
- Trump also said the Strait of Hormuz would reopen on Friday.
Dow record, Space X rally, Federal Reserve decision 2026 Quartz · Michael M. Santiago / Getty Images Cris Tolomia Tue, June 16, 2026 at 6:42 PM GMT+7 2 min read SPCX ^GSPC ^DJI ^IXIC ^NDX Ahead of the Federal Reserve s upcoming rate decision, investors steadied themselves Tuesday after the prior session s sharp gains, with Space X shares extending their post-IPO surge and broader futures showing little movement.
Monday s session saw the Dow finish up 468.77 points, or 0.92%, notching both an intraday and closing record, while the S&P 500 added more than 1% and the Nasdaq Composite surged 3.1%. By Tuesday morning, futures were nearly flat — Dow contracts were up 43 points, or 0.1%, S&P 500 futures edged higher, and Nasdaq 100 futures gained 0.2%.
Monday s gains came after President Donald Trump announced a deal between the U.S. and Iran. According to CNBC, a senior Trump administration official indicated the memorandum of understanding had already been executed electronically the previous Sunday, while Pakistani Prime Minister Shehbaz Sharif confirmed that fighting had ceased on all fronts, with an in-person signing ceremony set for Friday in Switzerland. Washington and Tehran have offered diverging public accounts of what the agreement contains, according to The Wall Street Journal.