Opening Comment — Tuesday, June 16, 2026
DJIA: 51,671.03, up 468.77
S&P 500: 7,554.29, up 122.83
NASDAQ: 26,683.94, up 795.10
Stocks higher ahead of import price data
Stock futures are higher Tuesday morning ahead of today’s economic releases, including May import and export price data, along with housing starts and preliminary building permit figures. Market participants are also looking ahead to tomorrow’s Federal Reserve (Fed) decision, with the central bank expected to hold their targeted federal funds rate steady at the current 3.50% to 3.75% range. As of 7:21 AM ET, the Dow and the S&P 500 Index are both rising 0.1%. The Nasdaq 100 is increasing 0.3% relative to fair value on the GLOBEX.
U.S. equities were higher on Monday as markets digested the U.S.-Iran ceasefire extension that was announced over the weekend. May’s industrial production showed smaller-than-projected increase of 0.1% month-over-month (MOM), while capacity utilization rose to 76.2%. A measure of May New York area manufacturing fell more than projected, while June homebuilder sentiment unexpectedly declined. The Dow was up 0.9% and reached a new record closing level of 51671.03, while the tech-heavy Nasdaq Composite rose 3.1%. The S&P 500 increased 1.7% with seven of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 3.4%, while the Energy sector was the bottom performer, falling 3.6%.
On the data front, the May Import Price Index is projected to have increased 1.0% MOM and 5.7% year-over-year (YOY), compared to the prior month’s 1.9% and 4.2%, respectively, while the Export Price Index is forecasted to have increased 0.9% MOM and 10.2% YOY, versus the prior month’s 3.3% and 8.8%, respectively. The New York Fed will release their Business Leaders Survey for June. Housing starts are expected to have been an annualized 1.430 million in May versus the prior month’s 1.465 million. The preliminary reading of May building permits is expected to come in at an annualized 1.418 million versus the prior month’s 1.423 million.
Across the pond, European stocks are higher in mid-day trading as the ZEW’s measures of expectations for economic growth for the eurozone and Germany both rose significantly in June. The eurozone’s finalized first-quarter labor cost growth was revised down to 3.2% YOY.
Overnight in Asia, stocks were mixed as the Bank of Japan raised its benchmark interest rate to 1.00%, as expected. Meanwhile, the Reserve Bank of Australia left their policy rate unchanged at 4.35%. China’s retail sales for May registered a greater-than-projected decline of 0.6% YOY, while industrial production exceeded forecasts, rising by 4.5% YOY. South Korea’s Export Price Index registered increases of 0.3% MOM and 46.9% YOY in May, while the Import Price Index decreased by 0.3% MOM and increased by 24.8% YOY.
In FOREX trading, the U.S. dollar is slightly lower amid this week’s slew of central bank meetings.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 3.0% lower at $78.33/barrel following optimism that the Strait of Hormuz will reopen.
In the metals complex, gold is 0.8% higher at $4,347.67/ounce following a weakening U.S. dollar.