June 24, 2025
The Dow Jones Industrial Average, S&P 500, Nasdaq Composite and Russell 2000 were all higher by over 1% today. In addition, the ex-US indexes that we utilize (MSCI EAFE and MSCI Emerging Markets) also saw their respective exchange traded funds (ETFs) gain 1-2% today. WTI crude oil declined again, going down to $64.94 per barrel – and – the 10-year treasury yield (important to the housing market) fell to 4.29%.
John Augustine, Chief Investment Officer, shares the team’s perspective on today’s market action:
- Israel and Iran ceasefire. The two countries are said to be honoring a ceasefire agreement (as of this writing). This is a strong bid to end the 12-day conflict.
- Fed Chair Powell stays balanced before the House. Before the House today, Fed Chair Powell stated, ”If it turns out that inflation pressure does remain contained, then we will get to a place where we cut rates, sooner rather than later. But I wouldn’t want to point to a particular meeting. I don’t think we need to be in any rush because the economy is still strong.”
- Stocks are back near records. The S&P 500 is currently within 1% of its all-time closing high of 6,144.15 on February 19th. So far this month, the broad U.S stock index is up +3.05% with 9 of 11 sectors higher (only Consumer Staples and Utilities are lower so far this month). The reason this is important is that stock investment dollars seem to now be flowing back to the U.S., after going to overseas developed markets for the first four months of this year.
Our Perspective:
The U.S. economy and U.S. business will adapt to tariff, geopolitical and economic changes over time. Being calm is paramount right now for long-term investors. We remain focused on looking out for our investment customers in the Private Bank. This is why we build diversified portfolios for our clients at Huntington. We are all here to help.
