📅 Tuesday, June 24
► European stocks jump on relief rally after Trump announced ceasefire
European indices rose as investors welcomed the news of a ceasefire between Israel and Iran. However, the gains began already earlier yesterday when it became clear that Iran's military capabilities were significantly reduced following the Israeli attacks and that Iran was not seeking to escalate the conflict in the region. The Stoxx 600 rose +1.3%, with broad-based gains across the continent. DAX jumped +1.9%, FTSE MIB added +1.6%, and CAC 40 climbed +1.25%, and FTSE 100 (+0.4%) also advanced. Bond yields were mixed — Germany’s Bund rose to 2.55%, while the UK 10Y held steady at 4.51%. EUR/USD strengthened to above 1.160. The massive retreat in oil prices eased inflation fears, prompting optimism around consumption and earnings ahead of Powell’s testimony.
► US futures extend gains as geopolitical risk fades & oil drops well below $70
US stock futures rallied sharply after President Trump confirmed a ceasefire was in effect, easing Middle East tensions. S&P 500 futures rose +0.7%, Nasdaq +0.9%, and Dow +0.5%. The dollar retreated (-0.35%), while 10Y Treasury yields are little changed at 4.35% as investors positioned ahead of Powell’s congressional appearance. Tesla extended gains (+2.3%) in premarket after launching its long-anticipated driverless taxi service. Traders shifted focus back to macroeconomic trends, with inflation, tariffs, and growth expectations back in the spotlight. The oil plunge is currently the key support for risk sentiment ahead of the upcoming earnings season.
► Asian markets surge on conflict de-escalation & tech rebound
Asia-Pacific equities posted strong gains across the board. South Korea’s Kospi led with a +2.96% jump, followed by Taiwan (+2.1%), Shenzhen (+1.68%), and Hong Kong’s Hang Seng (+2.06%). Japan’s Nikkei climbed +1.14%, while Shanghai rose +1.15% and Singapore’s STI added +0.65%. Investors responded positively to easing geopolitical tensions and a tech-led rebound, with chipmakers rallying across the region. Currency markets also reflected risk-on sentiment and significantly weaker USD: USD/JPY fell to 145.00 (-0.75%) and AUD/USD rose to 0.650 (+0.7%). The easing in oil and dollar supported Asian assets broadly.
Subscribe to see more
