New York Stock Market: "End of War Agreement" Reached; Focus Shifts to Fed's Dot Plot

Here is the outlook for the New York stock market this week.

On June 17, the retail sales data for May and the Summary of Economic Projections will be released, and the Federal Open Market Committee (FOMC) will make its interest rate decision. On June 18, the Philadelphia Fed Manufacturing Index for June will be unveiled.

Last weekend, all three major U.S. stock indices closed higher.

The Nasdaq rose by 0.3%, and the S&P 500 climbed 0.5%.

The market gained momentum last weekend, bolstered by the successful debut of the newly listed space company, SpaceX.

SpaceX began its first day of trading on the Nasdaq at $150 per share, exceeding its initial public offering price of $135, and immediately climbed to the 6th spot in terms of market capitalization.

News has just broken that the peace negotiations between the United States and Iran have been concluded.

As a result, the market is focusing on the potential opening of the Strait of Hormuz following the agreement, the signing ceremony scheduled for June 19, and the Federal Reserve's regular meeting as the most significant variables this week.

The upcoming meeting, which will be held for two days starting June 16, is the first FOMC meeting presided over by Fed Chair Wash since taking office.

The market currently expects a high probability that the benchmark interest rate will be held at its current level.

However, attention is focused more on the future policy direction that Chair Wash will present during his press conference than on the interest rate decision itself.

On June 17, the Fed will release its Summary of Economic Projections, which includes the dot plot—a chart showing Fed officials' interest rate forecasts—along with projections for economic growth, inflation, and the unemployment rate.

Friday, June 19, is Juneteenth, a federal holiday commemorating the emancipation of enslaved people, and both the U.S. stock and bond markets will be closed.

With news of the Middle East peace agreement and the Fed's interest rate decision arriving simultaneously, this week is expected to be a period where the stock market explores a new direction.
※ Please note: This article was translated by AI and may contain errors.