Pre-Market Update: Nasdaq Futures Rise Ahead of Fed Rate Decision and Iran Peace Deal Signing

TLDR

Nasdaq 100 futures rose 0.5% while Dow futures slipped ahead of the Fed’s rate decision The Fed is expected to hold rates steady; all eyes are on new Chairman Kevin Warsh’s first press conference A leaked U.S.-Iran peace deal detail boosted sentiment, with the U.S. set to allow Iran to resume oil sales Bitcoin fell 1.3% to $64,469 as traders stayed cautious ahead of the Fed announcement SpaceX shares climbed around 2%, briefly eclipsing Amazon in market value within three days of trading

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Wall Street was set for a mixed open on Wednesday as traders focused on two major events: the Federal Reserve’s rate decision and the latest details from the U.S.-Iran peace deal.

Nasdaq 100 futures climbed 0.5%, while S&P 500 futures edged up slightly. Dow Jones futures dipped by about 27 points.

E-Mini S&P 500 Jun 26 (ES=F)

The Dow closed above 52,000 points for the first time on Tuesday. But the S&P 500 and Nasdaq slid that day as investors rotated out of tech stocks.

Iran Peace Deal Lifts Sentiment

A Wall Street Journal report revealed that the U.S. would allow Iran to immediately resume selling oil under a new peace agreement. That news pushed crude prices lower.

Brent crude fell 0.7% to $78.43 a barrel. West Texas Intermediate dropped 1.1% to $75.25 a barrel.

The two sides have agreed on a 14-point draft memorandum and are aiming to formally sign it on Friday. However, President Trump said the memo was not final, warning that the U.S. could return to military action if terms were not met.

Markets responded positively to the progress, with hopes that cleared oil flows through the Strait of Hormuz could follow.

Fed Decision and Warsh’s Debut

The Federal Reserve is widely expected to hold interest rates steady at its 2 p.m. Eastern time announcement. That outcome is already priced in by most investors.

The real focus is on Kevin Warsh, who is making his debut as Fed Chairman at the post-decision press conference.

Hot inflation data and a steady job market have removed rate cuts from the near-term outlook. Investors are watching for any signals about whether rate hikes could come next.

“Investors will now have to get used to the new Fed Chair’s communication style, which is an adjustment period for markets,” said James Demmert of Main Street Research.

Demmert added that any volatility from Warsh’s comments should be seen as a buying opportunity, given that market fundamentals remain intact.

The 10-year Treasury yield slipped one basis point to 4.44%. The U.S. dollar was flat against a basket of major currencies.

Bitcoin and SpaceX in Focus

Bitcoin fell 1.3% over the past 24 hours to $64,469. The drop came as traders took a cautious stance before the Fed’s announcement.

SpaceX shares rose around 2%, extending a strong post-IPO run. The rocket company briefly surpassed Amazon in market value within just three days of public trading.

The Fed decision remains the biggest scheduled market event of the day, with the announcement due at 2 p.m. Eastern time.

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