US open: Stocks higher despite shaky Middle East ceasefire
By Iain Gilbert
Date: Tuesday 24 Jun 2025
(Sharecast News) - Major indices were in the green early on Tuesday despite Israeli claims that Iran had already breached a ceasefire agreement.
As of 1445 BST, the Dow Jones Industrial Average was up 0.84% at 42,939.49, while the S&P 500 advanced 0.82% to 6,074.71 and the Nasdaq Composite came out of the gate 1.13% firmer at 19,852.35.
The Dow opened 357.71 points higher on Tuesday, extending gains recorded in the previous session as investors shrugged off concerns about America's bombing of Iran.
The Middle East conflict was in focus again on Tuesday after Israel, which launched strikes against Iran 12 days ago, said it had achieved its primary objectives, removing "dual immediate existential threat from itself" both in the nuclear and ballistic missile fields.
However, air raid sirens were reported to have sounded in northern Israel just hours after Donald Trump claimed a ceasefire agreement had been struck. Media reports indicated that two missiles had been intercepted, and although Iran denied launching them, Israeli defence minister Israel Katz ordered immediate retaliation on Tehran.
"I have instructed the IDF to respond forcefully to Iran's violation of the ceasefire with powerful strikes against regime targets in the heart of Tehran," said Katz.
Iran, which fired missiles at a US airbase in Qatar in what has generally been seen as a symbolic reprisal, also accused Israel of violating the agreement, with Israeli forces saying a radar system close to Tehran was attacked. Trump declared that he was "unhappy" with both parties about the renewed conflict.
Oil prices seemed unfazed by the uneasiness of the ceasefire, with benchmark Brent crude prices dropping 4.77% to $68.07 per barrel, while West Texas Intermediate slumped 4.88% to $65.17 per barrel.
Tuesday's other main focus will be testimony from Federal Reserve chairman Jerome Powell before the House Financial Services Committee at 1500 BST, where he will present the central bank's monetary policy report. Powell will then testify before the Senate Banking Committee on Wednesday.
On the macro front, the Chicago Federal Reserve's national activity index fell to -0.25 in April, down from a revised +0.3 reading in March, as three of the four major categories weighed on overall activity. Production-related indicators contributed -0.18 in April, while the sales, orders, and inventories category came in at -0.04, as did the personal consumption and housing category. Employment-related indicators, on the other hand, were neutral in April, improving from a -0.05 contribution in March.
Elsewhere, the US housing price index decreased to 434.90 in April, according to the Federal Housing Finance Agency, down from March's reading of 436.70.
Still to come, June consumer confidence numbers and Richmond Fed manufacturing index will follow at 1500 BST.
No major corporate earnings were slated for release on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
American Express Co. (AXP) $299.63 0.00%
Cisco Systems Inc. (CSCO) $67.38 0.00%
International Business Machines Corporation (CDI) (IBM) $289.18 0.00%
Verizon Communications Inc. (VZ) $42.35 0.00%
Procter & Gamble Co. (PG) $161.03 0.00%
Dow Chemical Co. (DOW) $26.87 0.00%
Visa Inc. (V) $343.75 0.00%
Coca-Cola Co. (KO) $69.74 0.00%
Amgen Inc. (AMGN) $272.44 0.00%
JP Morgan Chase & Co. (JPM) $278.27 0.00%
Dow Jones - Fallers
Caterpillar Inc. (CAT) $366.23 0.00%
Microsoft Corp. (MSFT) $486.00 0.00%
Dow Chemical Co. (DOW) $26.87 0.00%
Visa Inc. (V) $343.75 0.00%
Unitedhealth Group Inc. (UNH) $300.68 0.00%
Home Depot Inc. (HD) $356.96 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
American Express Co. (AXP) $299.63 0.00%
Cisco Systems Inc. (CSCO) $67.38 0.00%
Merck & Co. Inc. (MRK) $80.16 0.00%
S&P 500 - Risers
Norfolk Southern Corp. (NSC) $256.58 0.00%
Expedia Group Inc. (EXPE) $165.82 0.00%
Nasdaq Inc (NDAQ) $86.73 0.00%
Eog Resources Inc. (EOG) $121.99 0.00%
Mattel Inc. (MAT) $19.12 0.00%
Synopsys Inc. (SNPS) $470.98 0.00%
Carmax Inc. (KMX) $67.17 0.00%
Republic Services Inc. (RSG) $250.68 0.00%
Capri Holdings Limited (CPRI) $16.78 0.00%
W.W. Grainger Inc. (GWW) $1,038.33 0.00%
S&P 500 - Fallers
Norfolk Southern Corp. (NSC) $256.58 0.00%
Expedia Group Inc. (EXPE) $165.82 0.00%
Nasdaq Inc (NDAQ) $86.73 0.00%
Eog Resources Inc. (EOG) $121.99 0.00%
Mattel Inc. (MAT) $19.12 0.00%
Synopsys Inc. (SNPS) $470.98 0.00%
Carmax Inc. (KMX) $67.17 0.00%
Republic Services Inc. (RSG) $250.68 0.00%
Capri Holdings Limited (CPRI) $16.78 0.00%
W.W. Grainger Inc. (GWW) $1,038.33 0.00%
Nasdaq 100 - Risers
Meta Platforms Inc. (META) $698.53 0.00%
Check Point Software Technologies Ltd. (CHKP) $223.37 0.00%
Xilinx Inc. (XLNX) $0.00 0.00%
Walgreens Boots Alliance, Inc. (WBA) $11.35 0.00%
Comcast Corp. (CMCSA) $34.59 0.00%
Regeneron Pharmaceuticals Inc. (REGN) $511.92 0.00%
Broadcom Inc. (AVGO) $253.77 0.00%
Micron Technology Inc. (MU) $122.08 0.00%
Dish Network Corp. (DISH) $5.77 0.00%
Starbucks Corp. (SBUX) $92.34 0.00%
Nasdaq 100 - Fallers
Henry Schein Inc. (HSIC) $71.89 0.00%
Tesla Inc (TSLA) $348.68 0.00%
Fastenal Co. (FAST) $41.29 0.00%
Automatic Data Processing Inc. (ADP) $310.24 0.00%
Synopsys Inc. (SNPS) $470.98 0.00%
American Airlines Group (AAL) $10.90 0.00%
Cisco Systems Inc. (CSCO) $67.38 0.00%
Kraft Heinz Co. (KHC) $25.92 0.00%
Mondelez International Inc. (MDLZ) $68.50 0.00%
DENTSPLY Sirona Inc. (XRAY) $15.48 0.00%
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