Pre-Market Report – Wednesday 17 June: US Markets mixed - SpaceX up nearly 5% - SPI down 31 - Fed in focus

US equities closed mixed on Tuesday amid a pullback in AI-related stocks. The S&P 500 lost 0.6%, while the Nasdaq was down 1.2%. Investors took profits in semiconductor names after their recent rally, with Nvidia (-2.4%), Broadcom (-4.4%), Micron (-6.2%), AMD (-7.3%), and Intel (-8.5%) all posting losses. In contrast, SpaceX gained 4.8%, extending its advance since Friday's IPO, after reports that it would acquire Cursor for $60 billion. Meanwhile, the Dow Jones rose 328 points to a new high, supported by optimism surrounding the preliminary US-Iran agreement. Both countries are expected to sign the deal on Friday, with US officials stating that the Strait of Hormuz will reopen. Bond yields continued to ease as lower oil prices softened inflation concerns ahead of the Fed's expected rate hold on Wednesday, although Chairman Warsh is still expected to advocate changes to the monetary framework and a smaller balance sheet. JPMorgan rose 3.7%, while Visa gained 2.8%.SPI down 31 - Fed in focus - Yields fall - Oil drops over 5%.Marcus Today – Daily Market InsightsMarcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.If you'd like to go further:Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcastJoin Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offerMT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing. http://bit.ly/mt20-podcastPrinciples – How We Think About Investing A short video series on timing, behaviour, and decision-making. No stock tips. http://bit.ly/mt-principles-podcast—Disclaimer This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.