Wall Street ends mixed amid cooling Middle East tensions; Powell in focus
By Stephen
Culp
Wed June 25, 2025 4:29 PM
The Reuters analyst below referred to the day’s action as a “pause” but the charts tell a story of a day-long sell-off. There’s no mystery to this what with the uncertainty and murkiness surrounding the Israel-Iran situation with Trump claiming obliteration while the intelligence agencies saying at least preliminarily that the damage was modest and Tehran’s nuclear program is far from destroyed. The truce, though tenuous, continues to hold but there remains a lack of clarity about Iran. The S&P started in the black but ended flat while the Nasdaq had a much better day in the black all day though it fell from a morning high of +140 to close at less than half that.
The Dow was in the red all day but this was taken as good news with assets flowing back to tech indicating that this bull market may have legs. Powell told Congress once again that the economy is on sure enough good footing to afford to wait on rate cuts until we know the full effects of the tariffs. Nevertheless, the odds of a July cut have gone up to 25%, September down to 67%. It was also reported today that new home sales slumped by 13.7%, a contrast to Monday’s report of an unexpected increase in new home sales. A final Q1 GDP comes tomorrow, PCE Friday. But the bottom line, “Economic uncertainty continues to weigh on corporate guidance.” Volume came in at 16.02 billion, below the 18.08 billion average.
DJ: 43,089.02 +507.24 NAS: 19,912.53
+218.56 S&P: 6,092.18
+67.01 6/24
DJ: 42,982.43 -106.59 NAS: 19,973.55
+61.02 S&P: 6,092.16
-0.02 6/25
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