Market Summary - June 18, 2026
US Market Overview
On June 18, 2026, US indices showed signs of recovery following a selloff after the Federal Open Market Committee (FOMC) meeting. Futures for the S&P 500 and Nasdaq rose by 1.4% and 2.25%, respectively, while the Dow Jones Industrial Average (DJIA) futures increased by 1.1%. Small-cap stocks, represented by the Russell 2000, gained 1.7%.
Macroeconomic Context
Investors are navigating a complex macroeconomic environment characterized by a historic US-Iran peace deal, declining gasoline prices, and a highly anticipated IPO from SpaceX, which attracted significant retail investment. However, uncertainty looms under the new Federal Reserve Chair, Kevin Warsh, who has opted to eliminate explicit forward guidance, compelling markets to react to data in real-time.
Labor Market Update
Initial jobless claims in the US fell by 4,000 to a seasonally adjusted 226,000 for the week ending June 13, aligning with expectations and indicating a stable labor market. Despite low initial layoffs, continuing claims rose by 24,000 to 1.81 million, suggesting that job seekers are facing longer durations of unemployment amidst ongoing policy and geopolitical uncertainties.
Market Performance
US100 Index
The US100 index saw a significant increase of 2.0%, surpassing the 78.6% Fibonacci retracement level at $30,264, driven by strong bullish momentum. The index remains above its 10, 30, and 100-period Exponential Moving Averages (EMAs), indicating a sustained upward trend. Buyers are targeting a retest of the psychological resistance near the recent peak of 30,769, with the 14-period Relative Strength Index (RSI) at 58.4, suggesting room for further growth before reaching overbought conditions.
Company News Highlights
- SpaceX (SPCX.US): Shares fell by 7.3%, trading around $178.
- Apple (AAPL.US): The company announced unavoidable price hikes due to rising chip costs, with potential increases of up to $150 for the upcoming iPhone 18.
- Accenture (ACN.US): Shares dropped by 16.7% after a revenue miss and a cut in growth forecasts, triggering a sell-off in the IT consulting sector.
- HIVE Digital (HIVE.US): Shares surged by 7.5% following a $220 million GPU contract with Bell Canada.
- Pfizer (PFE.US): CFO Dave Denton announced his departure, leading to a 2.3% decline in shares.
- Rockstar Games: Announced pre-orders for Grand Theft Auto 6 starting June 25, with speculation about a price increase to $80 or more.
- Rumble (RUM.US): Shares rose by 7% after acquiring a majority stake in Northern Data AG and pivoting towards AI.