Key Facts
• U.S. stock market extended gains on June 24, 2025.
• Nasdaq 100 rose 1.5%, reaching its highest level since February.
• S&P 500 also advanced for the second consecutive session.
• Federal Reserve Chair Jerome Powell hinted at potential rate cuts if inflation remains subdued.
• Short-term financial markets priced in two rate cuts by year-end, with September as the likely timeline.
• U.S. Treasury yields fell, with the 2-year yield dropping to approximately 3.81%.
• The Japanese yen strengthened 1.1% against the dollar, reaching 144.51 yen per dollar.
• Consumer confidence in the U.S. declined unexpectedly, reinforcing rate cut expectations.
• Middle East tensions eased as Israel and Iran adhered to a ceasefire agreement.
• Crude oil prices plummeted, with WTI futures falling 6% to $64.37 per barrel.
• Gold prices dropped 1.5%, with spot gold trading at $3,316.66 per ounce.
Summary
On June 24, 2025, U.S. stocks surged, with the Nasdaq 100 climbing 1.5% to its highest level since February, driven by Federal Reserve Chair Jerome Powell’s balanced comments on potential rate cuts and easing Middle East tensions. The S&P 500 also extended gains for a second session. Short-term markets fully priced in two rate cuts by year-end, with September as the likely timeline. Treasury yields fell, with the 2-year yield at 3.81%, while the Japanese yen strengthened 1.1% against the dollar. Consumer confidence unexpectedly declined, bolstering rate cut expectations. Meanwhile, crude oil prices dropped sharply, with WTI futures down 6% to $64.37 per barrel, as Israel and Iran adhered to a ceasefire. Gold prices also fell 1.5%, reflecting reduced demand for safe-haven assets.
