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Published: 17 June 2026,02:10
Daily Market Analysis New
*Wall Street ends mixed as initial optimism over the U.S.–Iran interim peace deal fades
*AI-related growth themes and SpaceX’s rally continue to support long-term tech sentiment
*Upcoming Fed decision remains a key risk event for U.S. equities
Wall Street ended mixed as the initial euphoria surrounding the U.S.–Iran interim peace deal began to fade. While lower oil prices and easing geopolitical risks remain supportive for equity markets, investors are waiting for more concrete details on the agreement before increasing risk exposure aggressively.
The potential easing of Middle East tensions has helped reduce inflation concerns, especially as oil prices retreated from recent highs. Lower energy prices may reduce pressure on consumers and businesses, while also easing concerns that the Federal Reserve may need to tighten policy further in the short term. However, uncertainty remains elevated as markets continue to assess whether the agreement can lead to a more durable de-escalation.
Longer-term sentiment toward U.S. equities remains supported by the AI growth theme. Investor appetite for technology and high-growth companies remains strong, especially as markets continue to price in the long-term earnings potential from artificial intelligence infrastructure, cloud computing, and automation-related demand.
SpaceX also remained a major focus on Wall Street after its shares extended gains for a third consecutive day, overtaking Amazon in market value to become the fifth-largest stock in the world. SpaceX shares are now up 49% from their $135 IPO price, reflecting strong investor demand and easing concerns that the record-sized IPO would be too large for the market to absorb.
The strong performance has also lifted expectations for other potential mega-cap listings, including artificial intelligence companies such as Anthropic and OpenAI, which are expected to attract significant investor attention if they move forward with public offerings. This has reinforced broader enthusiasm toward high-growth technology and AI-linked investment themes.
Market participants are now turning their attention to the upcoming Federal Reserve interest rate decision. The Fed is widely expected to leave rates unchanged, but the tone of its statement and forward guidance will be crucial for equity market direction.
Technical Analysis
Nasdaq is trading lower after retracing from the 30,240.00 resistance level, indicating a short-term pullback from recent highs.
Momentum has turned softer, with the MACD strengthening to the downside and the RSI at 51 retreating from overbought territory, suggesting the index may continue to face near-term corrective pressure.
If bearish momentum persists, Nasdaq could extend losses toward the 29,390.00 support level, with further downside toward 28,480.00 if selling pressure accelerates.
However, if bearish momentum fades, the index may rebound and retest the 30,240.00 resistance level, followed by 30,720.00 if buying momentum recovers.
Resistance Levels: 30240.00, 30720.00
Support Levels: 29390.00, 28480.00
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