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US stocks rise as oil prices drop after US-Iran deal, despite Fed's hawkish stance.

Market News
21 Jun 2026
Seeking Alpha
View Source
Neutral
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US equity markets ended higher as oil prices fell nearly 10% following a tentative US-Iran agreement easing tensions around the Hormuz Strait. This helped offset a hawkish Federal Reserve meeting where nine of 18 FOMC members signaled potential rate hikes in 2026, pushing short-term rates higher. The S&P 500 gained 0.7%, led by a 2.7% rally in the Nasdaq 100, while smaller-cap and rate-sensitive sectors lagged. Real estate stocks fell 3%, reflecting pressure from rate-sensitive segments despite lower long-term yields and mixed housing data showing sluggish demand but improving supply. Market uncertainty remains due to late-week clashes raising doubts about the durability of the US-Iran deal.

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