Stock Market Update Monday June 23, 2025

Stock Market Update Monday June 23, 2025 Markets Shake Off Iran Tensions Markets spent the day riding geopolitical headlines, swinging on every update out of the U.S.–Iran standoff. Initial jitters over weekend strikes on Iranian nuclear sites faded at the open, but sentiment turned midday on reports of Iranian retaliation targeting a U.S. air base in Qatar. That move briefly rattled risk assets — until investors deemed the response more symbolic than strategic. A calibrated message for domestic consumption, not escalation.

With the threat of further conflict seen as dialed down, risk appetite returned. Equities caught a bid into the close.

Equity Performance:

• S&P 500: +1.0%

• Nasdaq-100 (QQQ): +1.1%

• Russell 2000 (IWM): +1.0%

Away From Stocks:

• 10-Year Treasury Yield: down to 4.34%, reflecting a bid for safety before sentiment turned.

• U.S. Dollar Index (DXY): reversed early gains, settling at 98.40.

• VIX: edged down to 20.05 — still elevated, signaling lingering hedging demand despite the equity rebound.

• Oil markets were quicker to price in the de-escalation narrative, sliding immediately after the retaliation headlines. WTI crude fell below $70, unwinding the earlier risk premium.

Senate & The Big Beautiful Bill

While Washington focuses on rising tensions with Iran, the Senate is still working on the President's Big Beautiful Bill Act (BBB). Lawmakers are trying to get the bill finalized for the President to sign by July 4, but the Senate seems likely to reject the House's version, making the process more complicated.