Thursday, June 18, 2026

Wall Street embraced a risk-on rally on Thursday, bouncing back from Wednesday's hawkish FOMC shocker where new Fed Chair Kevin Warsh floated the potential for late-2026 rate hikes. The Nasdaq paced the advance, surging 1.91% to 26,517.932, while the S&P 500 climbed 1.08% to 7,500.58 and the Dow Jones eked out a 0.14% gain to 51,564.7. The small-cap Russell 2000 also outperformed, jumping 1.38% to 2,979.765, as the signing of a historic U.S.-Iran peace deal at Versailles ended the Strait of Hormuz maritime blockade, easing geopolitical anxieties and sending WTI Crude down 0.75% to 75.28.

Sectors in focus

• Tech & Industrials: Semiconductors & Related Devices jumped 6.09%, fueled by a blockbuster Apple-Intel partnership to onshore chip manufacturing. This manufacturing optimism spilled heavily into Electrical Industrial Apparatus (+8.85%) and General Industrial Machinery (+7.12%).
• Energy & Safe Havens: The geopolitical de-escalation directly pressured Drilling Oil & Gas Wells (-3.52%). Meanwhile, safe-haven Gold slipped 0.75% to 4,213.9 alongside a falling VIX (-0.06% to 16.4).
• Cable & Consulting: Cable & Other Pay Television Services dropped 2.88% as the industry struggles with ongoing streaming margin pressures and broadband subscriber losses. Services-Management Consulting Services also lagged heavily as the day's worst performer, shedding 5.28%.

On the radar

• Jun 19: U.S. equities will be closed in observance of the Juneteenth holiday.
• Jun 23: Markets return to a fresh batch of data, including the S&P Global US Manufacturing & Services PMI (June preliminary) and the ADP Weekly Employment Change.
• Jun 25: A highly anticipated slate brings the Q1 GDP (Third Estimate), May Personal Income/Spending (PCE), and Initial Jobless Claims—all of which will be heavily scrutinized in light of the Fed's newly raised inflation outlook.