Nasdaq rebounds as Iran deal signed, SpaceX falls again

4:15pm: In the green

Hopes that a peace deal between the US and Iran will stick saw US stocks finish Thursday’s session higher. The tech-heavy Nasdaq led the gains, up 1.9% at 26,517 points. The S&P 500 added 1.1% at 7,500 points and the Dow Jones was up 0.1% at 51,564 points.

3:45pm: Proactive news headlines

• First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) received strategic and financial backing through G7-linked critical minerals initiatives, securing international investment support and offtake agreements during the 2026 G7 Summit in France.
• HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) received approval to acquire the Big Boden 32-megawatt data center in Sweden, a move that would allow the company to own the facility that currently supports its Swedish operations.
• Thistle Resources (TSX-V:TRCG, OTC:TRCGF) completed its second anniversary payment under the option agreement for the Brunswick antimony project, keeping it on track to secure full ownership of the New Brunswick property.
• Miivo Holdings Corp (TSX-V:MIVO) said the TSX Venture Exchange has approved its name change to Miivo AI Inc., which will take effect on June 22 while retaining the "MIVO" trading symbol.
• Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) completed a C$1.25 million private placement to fund development of its Alzheimer's Disease program and support the launch of its first U.S. brain-specific neuroimaging clinic.

2:45pm: Market movers

• Take-Two Interactive Software Inc (NASDAQ:TTWO) gained attention after Jefferies said the June 25 opening of Grand Theft Auto VI pre-orders could serve as a major catalyst for the stock ahead of the game's November release, with investors closely watching pricing details.
• Dutch Bros Inc (NYSE:BROS) shares rose 8% and are up 35% over the past month as investors remain optimistic about the coffee chain's long-term growth prospects, expansion strategy, and same-store sales trends.
• HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced it has received approval to acquire the Big Boden 32-megawatt data center in Sweden, a move that would allow the company to own rather than lease the facility that houses its Swedish operations.
• QuantumScape shares surged about 15% after the solid-state battery developer entered a multi-year research partnership with Honda R&D to advance battery technology and manufacturing processes.
• Accenture PLC (NYSE:ACN) shares fell nearly 15% after the consulting firm lowered its fiscal 2026 revenue growth forecast, overshadowing better-than-expected third-quarter earnings results.
• Intel Corp (NASDAQ:INTC, XETRA:INL) shares climbed about 8% after President Donald Trump said Apple had agreed to work with the company on designing and manufacturing chips in the United States.

1:45pm: Warsh era less predictable

The Fed’s updated dot plot suggested policymakers are still leaning toward tighter policy this year, Swissquote's Ipek Ozkardeskaya noted. 

At least nine officials projected one rate hike before the end of 2026, while six indicated that two or more hikes could be appropriate. Notably, Fed Chair Kevin Warsh declined to submit his own rate projection, leaving his policy outlook absent from the closely watched chart.

"He doesn’t like the concept of forward guidance, he doesn’t think that making predictions helps, and he is putting together task forces to change the way the Fed communicates, its balance sheet, the use of and reliance on existing data sources, and its focus on productivity and jobs," according to Ozkardeskaya.

"(G)iven the level of unpredictability of US policies, it is impossible to make predictions. At best, you can build scenarios. But leaving the market without forward guidance means that Fed decisions in the Warsh era will be less predictable."

12:30pm: Rates are going nowhere but higher: Brooks

Kathleen Brooks of XTB said the most notable aspect of the Federal Reserve's first policy statement under Chair Kevin Warsh was its unusually brief and direct format, noting it was less than half the length of recent FOMC statements.

The statement emphasized that the USeconomy continues to expand at a solid pace, inflation remains above the Fed's 2% target, and the central bank remains committed to restoring price stability.

Brooks said the pared-back language suggests a more concise communication style under Warsh's leadership.

"Kevin Warsh has essentially disbanded with forward guidance in written form, although the SEP and the Dot Plot tell us the direction of travel for the Fed," Brooks commented. 

"This statement, however, is extremely clear in its message: rates are going nowhere but higher, if inflation does not come back to target."

11:10am: Apple says price hikes 'unavoidable'

Apple Inc (NASDAQ:AAPL, XETRA:APC) (Apple Inc (NASDAQ:AAPL, XETRA:APC), Apple Inc (NASDAQ:AAPL, XETRA:APC)) plans to raise prices on some of its products as surging memory and storage chip costs pressure its supply chain, CEO Tim Cook told The Wall Street Journal in an interview. 

"Unfortunately, price increases are unavoidable," Cook told the publication. "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable."

Cook did not specify which Apple products could become more expensive, when price changes might take effect, or how large any increases would be.

According to Cook, demand for memory used in artificial intelligence infrastructure has tightened supply and driven up component costs. Major technology companies, including Google, Microsoft, Meta Platforms and Amazon, have increased spending on AI data centers, boosting demand for specialized high-bandwidth memory and reducing availability for consumer electronics.

10am: Nasdaq leads rebound, but SpaceX falls again 

Wall Street stocks have bounced back in opening trades, cutting some of their losses from yesterday.

The Nasdaq has opened up 0.9%, with the S&P 500 climbing 0.8%, while the Dow Jones has added 0.5%.

The strongest gains are in semiconductors and tech hardware, with Intel and Western Digital surging more than 11%, followed by Seagate, with ON Semiconductor, Micron, Monolithic Power Systems, KLA, Lam Research and Applied Materials all up between 5% and 10%, with investors buying the dip after the previous session's sharp declines.

Not all technology names participated, with SpaceX remaining under pressure for the second day, down 7% to below $180, still well up from its $135 IPO price.

8.20am: Wall Street rebound expected

US stocks are set to rebound on Thursday after Wall Street suffered a sharp sell-off following the first meeting of a new Federal Reserve regime, with investors taking comfort from signs of a de-escalation in the Middle East.

Futures on the Nasdaq 100 have risen 1.3%, while the S&P 500 and Dow Jones were up 0.6% and 0.2% respectively.

The gains follow yesterday's declines, when the Nasdaq fell 1.3% to 26,021, the S&P dropped 1.2% to 7,420 points, and the Dow slid % to 51,492.

This was a reaction to new Fed chair Kevin Warsh striking a notably hawkish tone, which fuelled expectations of further interest rate increases and led to a notable shift on bond markets. 

Investors found some relief after President Donald Trump and his Iran counterpart digitally signed an interim ceasefire agreement, which has led to energy prices dropping to lows last seen in early March.

WTI crude fell over 2% to $75.15 a barrel, though concerns remain over energy supplies through the Strait of Hormuz.

Analysts said markets are now pricing a high probability of a Fed rate rise by October after Warsh repeatedly stressed the central bank's commitment to price stability and signalled a move away from detailed forward guidance.

The DXY dollar index is up 0.55% to 100.74, hitting levels not seen for over a year.

Thursday has seen other central banks less hawkish, with the Swiss National Bank and Bank of England keeping rates unchanged as expected, both somewhat reassured by the implication of the Iran deal on inflationary pressures.

European markets were mixed, however, with the FTSE 100 down nearly 1% and other benchmarks flat, while Asian trading was similarly divided, with gains for Japan's Nikkei and South Korea's Kospi, but Chinese equities remained under pressure.