US stocks today: US stocks set for strongest quarter in years as risk appetite holds despite US-Iran war

Wall Street's main indexes were on course to close June with their strongest quarterly gains in years, highlighting the resilience of equities despite geopolitical challenges.

The S&P 500 and the Nasdaq Composite indexes were set for their best quarter in six years, while the blue-chip Dow was on track ‌for its biggest ⁠quarterly gain since ⁠2022.

"Investors can't see an end in sight to this bull run. Whenever there's a bit of a sell-off, we seem to be in a situation where you get a fresh impetus to buy," said David Morrison, senior market analyst at Trade Nation.


At 10:08 a.m. ET, the Dow Jones Industrial Average rose 3.72 points, or 0.01%, to 52,186.46, the S&P 500 gained 24.96 points, or 0.34%, to 7,465.39 and the Nasdaq Composite gained 191.73 points, or 0.76%, to 26,011.87.

Recent weakness in heavyweight technology shares, however, has left the S&P 500 and the ⁠Nasdaq Composite ‌on track to snap two-month winning streaks in June. The Dow Jones, meanwhile, has fared better and is poised for a third consecutive month of gains.

Some analysts are pinning their hopes on ⁠the upcoming earnings season to boost stocks, especially after last week's punishing selloff in semiconductors and tech shares.

"Technology has been experiencing a period of June gloom, but that could easily reverse as earnings season approaches," said Brian Levitt, chief global market strategist at Invesco.

Others warn that any meaningful gain in the second half of the year will need a breakthrough in the negotiations to end the U.S.-Iran conflict.

Traders are pricing in at least one rate hike by the Federal Reserve by the end of 2026, according to data compiled by LSEG — a far cry from expectations of easing ‌rates earlier this year.

They are parsing through the latest job openings and consumer confidence data, and will also watch Fed Chair Kevin Warsh's comments at a high-profile economic conference in Portugal later on Tuesday.

The S&P 500 real estate ⁠index dropped 1.7%, the most among individual sectors on the benchmark. Seven of the 11 major S&P 500 sector indexes were in the red.

Shares of Concentrix dropped 20.7% to hit a record low after the customer experience firm lowered its forecasts for annual revenue and adjusted profit.

AeroVironment soared 22%, following a jump in quarterly revenue.

Morgan Stanley shares dipped 1% after brokerage Oppenheimer downgraded major Wall Street investment banks, recommending that investors redeploy capital into alternative asset managers.

Declining issues outnumbered advancers by a 1.33-to-1 ratio on the NYSE and by a 1.29-to-1 ratio on the Nasdaq.

Neither the S&P 500 nor the Nasdaq Composite posted any new 52-week highs or lows.