Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide

Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide

By Sinéad Carew and Twesha Dikshit

Mon June 15, 2026  

The weekend news of a peace accord to be signed this Friday in Geneva (but details not yet forthcoming) was quite predictably greeted with great aplomb as all three indexes skyrocketed from the open and stayed there all day, all three with very substantial 3-digit gains. The Dow hit a new record. The key of course for tech is the promised reopening of the Strait of Hormuz which controls the flow of oil and with oil controlling inflation and inflation controlling tech, the whole sector zoomed even more.  

With oil futures tumbling 4.9%, the most since March, the chip index climbed more than 5%. This was all very good news on the inflation front but the oddsmakers are still pricing in a 42% chance for a rate increase before year-end. All eyes are on Wednesday’s Fed meeting, the first with the new chair, and whether we’re still facing the bad news from May that energy costs are filtering into the general economy.  Volume at 21.3 is just a bit higher than the 20.8 billion average. 

DJ: 51,202.26  +353.51        NAS: 25,888.84  +79.18         S&P: 7,431.46  +37.16         6/12

DJ: 51,671.03  +468.77        NAS: 26,683.94  +795.10       S&P: 7,554.29 +122.83         6/15

Mon 6-15-26 4:42 pm Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide | Reuters