US Stock ETF Rises Late as Trump Extends Ceasefire: Markets Wrap
(Bloomberg) — A giant exchange-traded fund tracking US stocks climbed in late hours after President Donald Trump said he’s extending the ceasefire deal with Iran until talks conclude.
The roughly $720 billion ETF tracking the S&P 500 rose after notching a second straight loss in regular trading amid news reports that Iranian officials refused to attend negotiations and Vice President JD Vance put off a planned trip to Pakistan. Brent traded below $100 after its settlement. Bond yields and the dollar rose.
Trump said Tuesday that while the US would hold off on fresh attacks, it would maintain its blockade on the key Strait of Hormuz, which remains at a virtual standstill. And that’s just one of the unresolved issues, along with the Islamic Republic’s nuclear capabilities and Israel’s military operation in Lebanon.
“Waiting in cash for the all-clear sign is never a profitable strategy, but there are plenty of risks ahead,” said Chris Zaccarelli at Northlight Asset Management. “So it also doesn’t make sense to move to a high risk-taking posture either.”
Meantime, Kevin Warsh, Trump’s nominee to lead the central bank, noted the Federal Reserve needed a new framework for dealing with persistent inflation, without offering more specifics. He also said the US president has not asked him to commit to making certain rate decisions.
“The president nominated me for the position, and I’ll be an independent actor if confirmed as chairman of the Federal Reserve,” Warsh added.
In theory, stocks and bonds should like the messages of independent thinking and inflation vigilance, noted Steve Sosnick at Interactive Brokers
“From a stocks viewpoint, some of the lack of enthusiasm might stem from the seemingly lower likelihood of accommodative monetary policies,” he said. “From a bond viewpoint, Warsh reaffirmed his long-held opinion that the Fed’s balance sheet is too large. Shrinking the balance sheet would necessitate fewer holdings of Treasuries, particularly of the longer-dated variety.”
Traders also parsed the latest economic data. US retail sales soared by the most in a year, suggesting consumers continued to spend on a wide array of merchandise despite a surge in gasoline prices sparked by the war.
Corporate Highlights:
Apple Inc.’s Tim Cook, who’s stepping down as chief executive officer later this year, told employees on Tuesday that he is “healthy” and plans to serve as executive chairman for a long time. Cook made the comments in an all-hands meeting with staff, following the announcement that he will pass the reins to hardware chief John Ternus on Sept. 1 Amazon.com Inc. is investing an additional $5 billion in Anthropic PBC and may inject $20 billion more over time, a deal that strengthens ties in in an increasingly competitive artificial intelligence race. Adobe Inc. will buy back as much as $25 billion of its stock over the next four years following a decline in its value over AI disruption anxieties. Deutsche Telekom AG is considering a full combination with its American arm T-Mobile US Inc., a move that would create a multinational telecom group and rank as the largest-ever public M&A deal, people with knowledge of the matter said. United Airlines Holdings Inc. slashed its full-year profit forecast as higher fuel prices caused by war in the Middle East batter global carriers. UnitedHealth Group Inc. reported first-quarter profit that blew past Wall Street expectations and boosted its outlook for the year, a sign of the health conglomerate’s progress toward rebuilding credibility with investors after a collapse a year ago. Some of the main moves in markets:
Stocks
The S&P 500 fell 0.6% as of 4 p.m. New York time The Nasdaq 100 fell 0.4% The Dow Jones Industrial Average fell 0.6% The MSCI World Index fell 0.8% Currencies
The Bloomberg Dollar Spot Index rose 0.4% The euro fell 0.5% to $1.1724 The British pound fell 0.4% to $1.3479 The Japanese yen fell 0.5% to 159.62 per dollar Cryptocurrencies
Bitcoin fell 1.5% to $75,145.74 Ether fell 1.6% to $2,301.78 Bonds
The yield on 10-year Treasuries advanced six basis points to 4.31% Germany’s 10-year yield advanced two basis points to 3.00% Britain’s 10-year yield advanced five basis points to 4.88% Commodities
West Texas Intermediate crude rose 2.8% to $92.13 a barrel Spot gold fell 3% to $4,677.24 an ounce ©2026 Bloomberg L.P.
