This follows an announcement of a peace agreement with Iran by President Donald Trump, which led to a decline in crude oil futures. He said that the deal was “now complete,” adding, “I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.”
In this truncated trading week with markets closed on Friday, investors will eye the Federal Reserve’s decision on interest rates with the new chairman, Kevin Warsh, on Wednesday.
Meanwhile, the 10-year Treasury bond yielded 4.44%, and the two-year bond was at 4.03%. The CME Group's FedWatch tool‘s projections show markets pricing a 97.4% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
Index
Performance (+/-)
Dow Jones
0.89%
S&P 500
1.25%
Nasdaq 100
2.11%
Russell 2000
1.64%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Monday. The SPY was up 1.28% at $751.24, while the QQQ advanced by 2.17% to $737.02.
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