Stock market today: Dow, S&P 500, Nasdaq rise as Fed takes front seat from Mideast fears

US stocks popped on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day.
The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) all rose about 0.6% in early trading.
Markets are on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump said, "Our patience is wearing thin," and met with his national security team on Tuesday, raising speculation that the US could join Israel's offensive. Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does.
Oil prices moved over 1% higher, reversing course after the morning's decline. Brent futures (BZ=F), the international benchmark, rose to above $77 a barrel while West Texas Intermediate (CL=F) crude traded just above $76.
Read more: The latest on Trump's tariffs
Against that background, attention is turning to the Fed's policy decision due at 2 p.m. ET, when the central bank is expected to hold interest rates steady. The focus is on the "dot plot" to shed light on whether two rate cuts are still on the table this year. Investors will watch Chair Jerome Powell's press conference for insight into pressures on the economy amid Trump's tariffs and trade push.
Meanwhile, weekly jobless claims remained near their highest level in eight months.
Housing activity remains in the doldrums.
Privately-owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday.
"Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline."
Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could be a bad sign for future employment related to the sector as well.
"As construction declines, we continue to see downside risks to employment in this sector," Clark wrote.
US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day.
The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open.
Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021.
Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations.
Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.
Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins.
The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation.
'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger.
Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%.
Read more here.
Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday.
The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China.
"Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters.
Read more here.
Here are some top stocks trending on Yahoo Finance in premarket trading:
AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems.
Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased.
Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00.
The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports:
Read more here.
Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7)
Earnings: Aurora (ACB), Smith & Wesson (SWBI)
Here are some of the biggest stories you may have missed overnight and early this morning:
Stocks are back near record highs — but Wall Street isn't buying it
Investors brace for Fed signal on 2025 rate cuts
Musk's xAI burns through $1 billion a month as costs pile up
US added over 1,000 new millionaires a day last year: UBS
Trump flexes security powers to keep global tariff goal alive
Nintendo extends gains to record as Switch 2 sales boom
Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update.
The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday.
Bloomberg reports:
Read more here.
Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity.
Bloomberg reports:
Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post.
Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher.
The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf.
Read more here.
Housing activity remains in the doldrums.
Privately-owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday.
"Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline."
Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could be a bad sign for future employment related to the sector as well.
"As construction declines, we continue to see downside risks to employment in this sector," Clark wrote.
US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day.
The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open.
Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021.
Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations.
Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.
Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins.
The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation.
'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger.
Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%.
Read more here.
Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday.
The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China.
"Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters.
Read more here.
Here are some top stocks trending on Yahoo Finance in premarket trading:
AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems.
Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased.
Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00.
The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports:
Read more here.
Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7)
Earnings: Aurora (ACB), Smith & Wesson (SWBI)
Here are some of the biggest stories you may have missed overnight and early this morning:
Stocks are back near record highs — but Wall Street isn't buying it
Investors brace for Fed signal on 2025 rate cuts
Musk's xAI burns through $1 billion a month as costs pile up
US added over 1,000 new millionaires a day last year: UBS
Trump flexes security powers to keep global tariff goal alive
Nintendo extends gains to record as Switch 2 sales boom
Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update.
The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday.
Bloomberg reports:
Read more here.
Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity.
Bloomberg reports:
Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post.
Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher.
The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf.
Read more here.

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The week in stocks: Empire, Algoma Steel, and why the case for the trade in war 'keeps getting stronger'

Every weekend, the Financial Post breaks down the most interesting developments in this week's world of investing, from top performers to surprising analyst calls and stocks you should have on your radar. Here's this week's edition. BMO Capital Markets raised its price target for Empire Co. Ltd. (EMP/A) after the grocery chain, which owns such brands as Sobeys, IGA, FreshCo, Foodland and Farm Boy, reported earnings that beat analyst estimates. Earnings per share came in at 74 cents for the quarter ending May 3, beating analysts' estimate of 71 cents. Empire's profits increased 16.1 per cent to $173 million from $149 million in the same quarter a year ago. Tamy Chen, a consumer analyst at BMO, raised her price target to $55 from $53 in late May. 'We are comfortable with our continued assumption for annual gross margin expansion of 20 basis points,' she said in a note. 'For now, we are hesitant to assume further sequential acceleration in same-store sales.' Chen said she would like to see continued improvement in operating costs because that will help drive EPS growth. John Zamparo, an analyst at the Bank of Nova Scotia, raised his target to $62 from $49, while Mark Petrie at CIBC Capital Markets raised his to $59 from $55. The case for the defence trade 'keeps getting stronger' as Israel and Iran continue to trade fire, David Rosenberg, head of Rosenberg Research & Associates Inc., said in a note this week, but that's not the only tailwind. 'Military budgets are expanding sharply worldwide, and industry backlogs and production schedules are in acceleration mode,' he said. For example, the Pentagon's budget is just shy of US$1 trillion, and global military spending last year rose nearly 10 per cent to more than US$2.7 trillion as 36 countries were embroiled in armed conflict. The S&P 500's aerospace and defence index is up almost 30 per cent over the last year. Its members include: General Electric Co. (GE) RTX Corp. (RTX) Boeing Co. (BA) Lockheed Martin Corp. (LMT) TransDigm Group Inc. (TDG) General Dynamics Corp. (GD) Northrop Grumman Corp. (NOC) Howmet Aerospace Inc. (HWM) Axon Enterprise Inc. (AXON) L3 Harris Technologies Inc. (LHX) Textron Inc. (TXT) Huntington Ingalls Industries Inc. (HII) 'I wish we lived in a peaceful world where we didn't feel compelled to have this top the list of our highest-conviction ideas, but these are the cards we have been dealt, and our job is to help clients make money in a prudent fashion,' Rosenberg said. He said investors who had already committed to the defence sector are reaping the rewards of United States President Donald Trump pushing North Atlantic Treaty Organization (NATO) members to meet their target of spending two per cent of their gross domestic product (GDP) on defence. NATO is now discussing raising that target to five per cent of GDP. But Rosenberg said the aerospace and defence trade isn't just about hardware. 'You can't just talk about defence today by discussing F-35 jets and missiles; this is a sector inextricably linked to the burgeoning demand for advanced cybersecurity solutions,' he said. Rosenberg said the defence file has transformed from a cyclical bet into a 'structural growth story' akin to major economic shifts, including the rise of technology in the 1990s and the commodities supercycle of the 2000s. Algoma Steel Group Inc. (ASTL) got a boost this week when the federal government announced new measures to help protect Canada's steel industry. 'We believe the newly announced government measures to support the Canadian steel industry are a positive development for Algoma,' James McGarragle, an equity analyst at Royal Bank of Canada, said in a note. Algoma is down 33 per cent this year as Trump's tariff war has hit the manufacturer based in Sault Ste. Marie, Ont. U.S. tariffs on Canadian steel and aluminum exports currently sit at 50 per cent after rising earlier this month from an initially implemented 25 per cent levy. The steps Ottawa has taken to assist the industry help, but McGarragle said the major 'catalyst' for the sector and Algoma is a resolution to the trade dispute with the U.S.. RBC has a price target of $8 for Algoma, as does BMO Capital Markets. Analysts at Stifel Canada and Cormark Securities Inc. have price targets of $13 and $16, respectively. Algoma is currently trading at $9.43. The week in stocks: Dollarama still cashing in and silver gets buffed up The week in stocks: Lululemon gets stretched and is Tesla a TACO trade candidate? • Email: gmvsuhanic@ Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary straight to your inbox. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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40 minutes ago

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HELOC rates today, June 21, 2025: The home equity line of credit rate sharply lower

HELOC interest rates fell today, giving home equity line of credit borrowers a nice entry point to tap their home's value. A new survey finds that a significant number of homeowners are considering a HELOC. Nearly 30% of U.S. homeowners said they are considering accessing their home equity with a second mortgage in the next 12 months, according to MeridianLink. "Homeowners recognize the potential of home equity lending, but many are still on the sidelines due to financial uncertainty and lack of education about their options,' JP Kelly, MeridianLink senior vice president, said in a release. Among those likely to borrow from their home equity, most (45%) said home improvements were their primary motivation. Now, let's dig into today's HELOC rates. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing This embedded content is not available in your region. According to Zillow, the rate on a 10-year HELOC dropped nine basis points to 6.70% today. The same rate is also available on 15- and 20-year HELOCS. VA-backed HELOCs fell sharply by 13 basis points to 6.30%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. This embedded content is not available in your region. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.

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an hour ago

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Best money market account rates today, June 21, 2025 (best account provides 4.41% APY)

Find out how much you could earn with today's money market account rates. The Federal Reserve began cutting the federal funds rate in 2024, and as a result, deposit rates (including money market account rates) have been falling. It's more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. The national average money market account rate stands at 0.62%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.07%. So by historical standards, money market account rates are still quite high. Even so, some of the top accounts are currently offering over 4% APY. Since these rates may not be around much longer, consider opening a money market account now to take advantage of today's high rates. Here's a look at some of the top MMA rates available today:Additionally, the table below features some of the best savings and money market account rates available today from our verified partners. The amount of interest you can earn from a money market account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (money market account interest typically compounds daily). Say you put $10,000 in an MMA at the average interest rate of 0.64% with daily compounding. At the end of one year, your balance would grow to $10,064.20 — your initial $10,000 deposit, plus $64.20 in interest. Now let's say you choose a high-yield money market account that offers 4% APY instead. In this case, your balance would grow to $10,408.08 over the same period, which includes $408.08 in interest. Compared to a traditional savings account, a money market account may come with more restrictions. For example, money market accounts often require a higher minimum balance in order to earn the best interest rate and/or avoid fees. Certain MMAs may also limit the number of withdrawals you can make per month (typically six). In general, there are no banks that offer a 7% interest rate on money market accounts or any other type of deposit account. That said, you may be able to find local banks and credit unions running limited-time promotional rates on certain accounts, which could be as high as 7%. However, promotional rates at this level often apply to a limited balance. Read more: Do 7% interest savings accounts exist anymore?