Markets stabilize after Monday’s rally, with SpaceX shares surging 54% above IPO price ahead of Fed rate announcement.
The Dow closed at a record $60 billion above prior levels on Monday, rising 468.77 points or 0.92%, as the S&P 500 and Nasdaq gained 1% and 3.1%, respectively. Gains followed a U.S.-Iran deal announcement, easing geopolitical tensions and boosting investor sentiment.
Futures showed little movement Tuesday, with Dow contracts up 0.1% and Nasdaq 100 futures gaining 0.2%. Brent crude fell 2.7% to below $81 a barrel, while SpaceX shares traded near $208, up 54% from their $135 IPO price last week.
The Federal Reserve’s upcoming rate decision remains a key focus, with markets awaiting signals on future monetary policy amid stabilizing equities and easing oil prices.