The tech-heavy Nasdaq Composite rose 0.4%, while the S&P 500 added about 0.2%. The Dow Jones Industrial Average gained 0.3%, extending its recent strength after the blue-chip index touched a record high in the previous session amid uncertainty over US-Iran peace developments.
Oil prices edged higher after geopolitical uncertainty resurfaced, with West Texas Intermediate crude up around 1% at nearly $77 per barrel and Brent crude advancing to about $80 per barrel.
The move followed remarks from US President Donald Trump indicating that a final agreement with Iran has not been secured, keeping energy markets volatile after earlier optimism around a potential ceasefire deal.
Investor sentiment was also supported by stronger-than-expected US retail sales data, which rose 0.9% in May, well above estimates and signalling resilient consumer demand despite higher prices. Excluding autos, sales still increased 0.8%, underscoring broad-based spending strength across categories.
Attention now turns to the Federal Reserve, which is expected to keep interest rates unchanged in the 3.5%–3.75% range. This will be the first policy decision under new Chair Kevin Warsh, followed by his press conference at 2:30 p.m. ET, where investors will look for guidance on inflation trends, growth outlook and the policy path ahead.
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