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June 17, 2025
Dow: 42,500
S&P: 6019
Nasdaq: 19,637
10-YR T-Note: 4.41%
Bitcoin: 105,725
VIX: 20.16
Gold: $3,405
Crude Oil: 73.30
Don Selkin, the creator and innovator of the "Fair Value" numbers, as its Chief Market Strategist on the Newbridge platform has given CNBC and its Predecessor, these numbers every day for the over 40 years - never missing a single day, as well as given the fair value for the Nasdaq 100 futures since their introduction in 1996 and the Dow Jones stock index futures since 1997. Mr. Selkin has also been quoted in several publications including but not limited to Bloomberg News, New York Post, Reuters, and The New York Times. Mr. Selkin's Fair Value numbers are included in the U.S.
Futures Report broadcast on CNBC every day before the market
opens attributing "Newbridge Securities" as the source. In addition, NSC provides to its professionals, their clients and the public access to Don Selkin's more in depth financial market views.
After Friday’s downside disaster, the market resumed its winning ways yesterday, as prices fell and the Dow gained 317 points to 42,515 led by advances in xxxxxxxx. The S&P gained 56 to 6033 as the following groups did well.
The Nasdaq did the best with a 234 point gain to 19,701 while the Rusell 2000 Index of small stocks came along for the ride with a 23 point gain to while the VIX came down to 19.73.
Israel and Iran are continuing to attack each other, and a fear remains that a wider war could constrict the flow of Iran’s oil to its customers. That in turn could raise gasoline prices worldwide and keep them high.
But past conflicts in the region have seen spikes for crude prices last only briefly. They have receded after the fighting showed that it would not disrupt the flow of oil, either Iran’s or other countries’ through the narrow Strait of Hormuz off Iran’s coast.
Hopes that the fighting could remain similarly contained this time around helped send oil prices back toward $71 per barrel on Monday.
Iran’s foreign minister appeared to make a veiled outreach for the U.S. to step in and negotiate an end to hostilities between Israel and Iran, saying in a post on X that a phone call from Washington to Israel’s leader “may pave the way for a return to diplomacy.”
A barrel of benchmark U.S. oil fell 1.7% to $71.77, while Brent crude, the international standard, dropped 1.3% to $73.23 per barrel. They had both jumped roughly 7% on Friday after the initial attacks.
In another signal of calming fear in financial markets, the price of gold also gave back some of its knee-jerk climb from Friday, when investors were looking for someplace safe to park their cash and as a result of their efforts, the price of the precious metal fell back down to $3,417.
Investors have plenty of other concerns in addition to the fighting in Iran and Israel. Key among them are the President’s tariffs, , which still threaten to slow the economy and raise inflation if the U.S. government doesn’t win trade deals with other countries to reduce Trump’s taxes on imports.
The United States is meeting with six of the world’s largest economies in Canada for a G7 meeting, with the specter of tariffs looming over the talks. The U.S. made a trade deal with the U.K. for which this country has a surplus in any event and the President incorrectly identified the deal with the European Union instead of with the country involved.
The Federal Reserve has been hesitant to lower interest rates, , and it has been on hold this year after cutting at the end of last year, because it is waiting to see how much Trump’s tariffs will hurt the economy and raise inflation, which has remained relatively tame this year, just above the Fed’s target of 2%.
More important for financial markets on Wednesday will likely be the latest set of forecasts that Fed officials will publish for where they see the economy and interest rates heading in upcoming years.
In the bond market, the yield on the 10-year Treasury rose to 4.45% from 4.41% late Friday.
SAGE jumped 35% for one of the market’s biggest gains after Supernus Pharmaceuticals said it would buy the biopharmaceutical company in a deal worth up to $795 million, or $12 per share, if certain conditions are met.
X rose 5% after Trump signed an executive order pm Friday paving the way for an investment in the company by Japan’s Nippon Steel. Trump would have unique influence over the operations of X under the terms of the deal.
They helped offset drops for defense contractors, which gave back some of their jumps from Friday, led by LMT and NOC.
Earnings this week include: today – LEN, JBL higher and LZB tonight; Friday – KMX, DRI, KR.
Economic reports will include: yesterday – N.Y. State Empire Manufacturing Survey fell to -16; today – May retail sales fell by 0.9% and the core retail sales number showed a gain of 0.4%, May import prices rose by 0.2% and year over year were higher by this amount and export prices dropped 0.9% with a 1.7% gain year over year rise, May capacity utilization and industrial production; Wednesday – F.O.M.C. decision at which they are largely expected to do nothing, May housing starts, weekly jobless claims; Friday – May L. E..I.
