Summary

Companies Futures up: Dow 0.76%, S&P 500 0.88%, Nasdaq 1.15%

June 24 (Reuters) – U.S. stock index futures rose on Tuesday as President Donald Trump announced a ceasefire between Israel and Iran, bringing investors some relief after 12 days of conflict in the Middle East hurt global risk assets and fanned inflation concerns.

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Trump’s call for truce was a sharp turnaround after the U.S. bombed Iran’s nuclear sites over the weekend and Iran retaliated by firing missiles at a U.S. base in Qatar.

Hours after the ceasefire declaration, however, Israeli Defence Minister Israel Katz said Iranian missiles were fired in violation of the agreement and he had ordered the military to strike Tehran in response. Iran said it had not violated the ceasefire.

For the moment, optimism around the ceasefire was helping support equities.

At 05:26 a.m. ET, Dow E-minis were up 326 points, or 0.76%, S&P 500 E-minis were up 53.5 points, or 0.88%. Nasdaq 100 E-minis were up 252.75 points, or 1.15%.

Item 1 of 3 A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 23, 2025. REUTERS/Brendan McDermid/File Photo [1/3] A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 23, 2025. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights , opens new tab

The benchmark S&P 500 (.SPX) , opens new tab index remains about 2% below its record level.

Federal Reserve Chair Jerome Powell’s congressional testimony scheduled at 10:00 a.m. ET will likely be parsed for clues regarding the near-term interest rate trajectory, a day after policymaker Michelle Bowman said a cut as soon as July could be a possibility.

Six central bank officials including Fed Board Governor Michael Barr and Fed Minneapolis President Neel Kashkari are also scheduled to speak later in the day.

This week, focus will be on the Commerce Department’s final take on first-quarter GDP and its Personal Consumption Expenditures (PCE) data.

Consumer confidence data for June is due at 10:00 a.m. ET.

Package delivery firm FedEx (FDX.N) , opens new tab was up nearly 1% ahead of quarterly results due after the closing bell.

Reporting by Kanchana Chakravarty in Bengaluru; Editing by Devika Syamnath

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The UK’s FTSE 100 (^FTSE) opened higher on Tuesday after US president Donald Trump announced a ceasefire between Israel and Iran, although it appears that the ceasefire may now be on the brink of collapse.

“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE,” Trump wrote on Truth Social on Monday evening, saying that the ceasefire would begin at about 12am ET (5am BST). The president then posted earlier this morning: “THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!”

Oil prices slumped on the back of the announcement, with Brent crude futures (BZ=F) dropping 3.5% to $68.98 a barrel, as the news eased concerns of disruption to supply.

The announcement offered some relief to investors, who had been on edge since the US launched strikes on Iranian nuclear sites over the weekend, waiting for Iran’s response.

Iran launched missiles at a US military base in Qatar on Monday, though Trump later thanked Tehran for giving “early notice” of the strike.

However, since Trump announced the ceasefire, Israel has accused Iran of violating the truce. According to BBC reports, Israeli defence minister Israel Katz said in a statement that he has ordered the Israel Defense Forces to “respond forcefully to Iran’s violation of the ceasefire with intense strikes against regime targets in the heart of Tehran”. Iran has reportedly denied firing missiles at Israel.

London’s premier index rose 0.4% to 8,790.37 points.

The DAX (^GDAXI) in Germany jumped 2%, while the CAC 40 (^FCHI) in Paris surged 1.4%.

The pan-European STOXX 600 (^STOXX) was up 1.3%.

Oil prices tumbled, with brent crude (BZ=F) down 3.5% at $68.98 a barrel. West Texas Intermediate (CL=F) dropped 3.5% to $66.12 per barrel.

In the US, futures attached to the Dow Jones Industrial Average (YM=F) jumped 0.7% while contracts on the benchmark S&P 500 (ES=F) gained 0.8%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) rose 1%.

In terms of currency movements, the pound rose 0.6% against the dollar (GBPUSD=X) to $1.3595, while sterling was up 0.5% against the euro (GBPEUR=X) to trade at €1.1728.

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BoE’s Greene warns of inflation ‘plateau’ Megan Greene, a member of the Bank of England’s monetary policy committee, said on Tuesday that she is worried about the “near-term profile for inflation this year”. In a speech at the National Institute of Economic and Social Research (NIESR), Greene said that the near-term outlook for inflation “now resembles more of a ‘plateau’ than a ‘hump'”. She said: “We expect inflation to resume its fall towards our target from early next year. However, there is a risk that elevated inflation of roughly 3.5% the rest of this year will feed through into inflation expectations, and therefore wage and price setting behaviour. “Aside from energy and regulated prices buoying inflation, food prices have surprised consistently to the upside. Energy and food prices are particularly salient for inflation expectation setting. Household inflation expectations have been rising for months and are at the upper end of the band we might expect given consumer prices. Business expectations are also elevated but are less out-of-line with the past. “I think the risk that our near-term plateau in inflation feeds through into second round effects is skewed to the upside. This is even more a concern in light of the escalating conflict in the Middle East, which poses upside risks to oil prices.”

Tesla continues to rise in pre-market trading Yahoo Finance UK’s Lucy Harley-McKeown writes: “Electric vehicle maker Tesla’s (TSLA) stock rallied more than 8.2% in Monday’s session, and looked set for further gains on Tuesday, as investors watch both analyst ratings for the company and its robotaxi rollout. Its self-driving cars hit the roads of Austin, Texas on Sunday, in the company’s first big push to show how it might conquer the autonomous driving market. The small trial saw 20 Tesla (TSLA) Model Y’s on the streets of Texas — some with humans sat in the passenger seat to monitor safety, according to reports. Elon Musk said in a post on X (formally Twitter) that the launch marked a “culmination of a decade of hard work”, congratulating the company’s AI and chip design teams. Wedbush analyst Daniel Ives maintained his ‘buy’ rating for the stock, calling the launch the “golden era of autonomous” for Tesla (TSLA). His high price target is now $500.” Read more on Yahoo Finance UK

Bunzl set for revenue growth Shares in distribution giant Bunzl (BNZL.L) rose 1.4% on Tuesday morning, after the company flagged that it was set to see a rise in revenues on the back of acquisitions. Bunzl said in a pre-close trading statement that it expected to see “moderate revenue growth in 2025, at constant exchange rates, driven by announced acquisitions”. The company said it had signed an agreement in May to acquire Solupack, a Brazilian distributor of own brand packaging solutions to the food industry, which generated revenue of around £15m in 2024. Bunzl CEO Frank van Zanten said: “Alongside a macroeconomic backdrop that remains uncertain, the Group is trading in-line with our expectations. Actions are underway to improve performance in the Group, particularly in our largest business in North America and in Continental Europe, and we anticipate improvement in the second half of the year.”

Slump in gold prices steadies Yahoo Finance UK’s Pedro Goncalves writes: “Gold prices (GC=F) fell to their lowest level in nearly two weeks on Tuesday morning, as news of a ceasefire between Iran and Israel prompted investors to retreat from safe-haven assets and embrace riskier trades. However, picked up slightly amid reports of the ceasefire violation. In early European trading, gold futures dropped 1.7% to $3,336.00 an ounce, while spot gold edged 0.1% lower to $3,329.41 per ounce.”

US stock futures higher despite concerns over Iran-Israel ceasefire US stock futures continued to rally at the time of writing on Tuesday morning, despite Israel accusing Iran of violating a ceasefire, which was announced by US president Donald Trump on Monday evening. Tehran has yet to publicly confirm that it agreed to a pause. Futures attached to the Dow Jones Industrial Average (YM=F) were up 0.7% while contracts on the benchmark S&P 500 (ES=F) gained 0.8%. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) rose 1%. Read more on Yahoo Finance

UK grocery inflation hits highest level since last March Grocery price inflation in the UK rose to 4.7% in the four weeks to 15 June, according to data from market research firm Kantar. The figure is the highest level of supermarket inflation since March last year and is up from 4.1% in the previous month Despite this rate of price growth, Kantar’s data showed that British consumers made 490 million trips to the supermarket last month, averaging nearly 17 per household, which was the highest it recorded since March 2020. Grocery sales over the four weeks to 15 June grew by 4.1% compared to the same period last year, though the average amount spent per trip fell by 3p to £23.89.

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Israel accuses Iran of violating ceasefire Israel has accused Iran of violating the ceasefire, just hours after US president Donald Trump said the truce had come into effect. According to BBC reports, Israel said it had detected missile launches from Iran. Israeli defence minister Israel Katz reportedly said in a statement that he has ordered the Israel Defense Forces to “respond forcefully to Iran’s violation of the ceasefire with intense strikes against regime targets in the heart of Tehran”.

Oil prices slump following Trump ceasefire announcement Oil prices tumbled on Tuesday morning, following Trump’s announcement of a ceasefire between Israel and Iran. Brent crude (BZ=F) tumbled 3% at $69.38 a barrel, at the time of writing, while West Texas Intermediate (CL=F) dropped 3% to $66.46 per barrel. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Despite the turmoil over the weekend, oil prices were quick to shift into reverse – an early signal that markets were betting on de-escalation sooner rather than later. “Iran’s response notably refrained from targeting any oil facilities or the important Strait of Hormuz, and the jump in prices over the past few days has mostly been erased now, positive news for the US administration and investors alike. Lower oil prices are a key component to keep inflation down and something the US Fed will have one eye on when thinking about whether to cut interest rates at the next meeting in July.”

Good morning Hello from London. Vicky McKeever here, bringing you the latest business and market news throughout the day. European stocks have opened higher this morning, after US president Donald Trump said a ceasefire between Israel and Iran was now in effect.

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US Stock Market LIVE Updates: Dow futures up 285 points; Iran denies any ceasefire violation

By CNBCTV18.COM Jun 24, 2025 4:52 PM IST (Updated)

US Stock Market Live: Futures on Wall Street have extended their gains after Israel accepted US President Donald Trump’s ceasefire offer. Futures on the Dow Jones are up 400 points, while those on the S&P 500 and Nasdaq are up 58 and 275 points respectively. Watch this space for all the live updates.

US Stock Market LIVE Updates:: Futures on Wall Street have extended their gains after Israel accepted US President Donald Trump’s ceasefire offer. Futures on the Dow Jones are up 400 points, while those on the S&P 500 and Nasdaq are up 58 and 275 points respectively. Iran highlighted earlier that no agreement was made yet but will not retaliate if Israel stops its attacks by 4 am Tehran time. Later, state TV announced the ceasefire as well. Israel highlighted that it has achieved its objectives of destroying Iran’s nuclear capabilities. The biggest casualty in this ceasefire announcement has been oil, with Brent declining over 8% last night and another 5% this morning, falling back below levels of $70 per barrel, having tested $81 per barrel overnight. The gold prices and the US Dollar index have also declined. With this, the focus gets back to business as Donald Trump’s July 9 deadline draws closer. Investors will also watch out for Fed Chair Jerome Powell’s two-day Congressional testimony starting tonight. Watch this space for all the live updates.

KEY TAKEAWAYS Global stocks are jumping and oil prices are dropping after U.S. President Donald Trump announced a ceasefire agreement between Iran and Israel.

Nasdaq futures are up 1% and Dow Jones Industrial Average and S&P 500 futures are rising by slightly less.

Both Brent and West Texas Intermediate crude futures are down around 3%.

Global stocks are jumping and oil prices are dropping after U.S. President Donald Trump announced a ceasefire agreement between Iran and Israel.

“THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!” Trump posted on his Truth Social platform.

Nasdaq futures are advancing 1%, while S&P 500 and Dow Jones Industrial Average futures are up 0.8% and 0.7%, respectively. Japan’s Nikkei closed up 1.1%, while Hong Kong’s Hang Seng ended 2.1% higher.

Oil prices are slumping, with both Brent and West Texas Intermediate crude futures down more than 3%. The yield on the 10-year Treasury note is little changed at around 4.34%.

Investors will be watching Federal Reserve Chair Jerome Powell’s testimony before Congress today and tomorrow, while Trump continued his push for interest-rate cuts. It will be Powell’s first public appearance since last week, when the central bank’s policy committee decided to leave the influential federal funds rate between 4.25% and 4.5%.

“‘Too Late’ Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate. Europe has had 10 cuts, we have had ZERO,” Trump posted on Truth Social, adding the Fed’s “BOARD SHOULD ACTIVATE.”

07:54 | June 24, 2025

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