Dow, S&P 500 Futures, Nasdaq Ease After Historic H1 Rally As Markets Brace For Warsh’s Comments: NKE, BE, FCEL, MXL Stocks In Focus
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The Dow posted its best first-half performance in five years, gaining 8.85% in the first six months of 2026.
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On the geopolitical front, reports suggest that U.S. envoy Steve Witkoff and Jared Kushner met Qatar’s prime minister in Doha after President Donald Trump said Iran had requested talks.
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Oil futures climbed higher in Tuesday’s overnight trade as markets watch the U.S.-Iran developments closely.
U.S. stock futures retreated in the overnight session late Tuesday after posting a strong quarter despite the war with Iran. The Dow posted its best first half since 2021, while the small-cap Russell 2000 posted its strongest H1 since 1991.
Meanwhile, Federal Reserve Chairman Kevin Warsh is scheduled to speak at the European Central Bank Forum on Central Banking on Wednesday.
Dow futures were down 0.22%, S&P 500 futures fell 0.13%, and the Nasdaq 100 futures slumped 0.08% at 9:30 PM EDT.
Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), the Invesco QQQ Trust (QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were trading lower at the time of writing.
The iShares 20+ Year Treasury Bond ETF (TLT) was trading down 0.68% amid ‘neutral’ sentiment.
How Did US Markets Fare On Tuesday?
Tuesday’s session marked the last trading day of the quarter and the first half of 2026. All three benchmark indexes closed higher, with the Nasdaq Composite leading the gains after adding nearly 400 points to close up 1.52%. The blue-chip Dow index gained 0.26% at close, while the S&P 500 jumped 0.79%.
|
Index |
Move |
Close |
|
Dow Jones Industrial Average |
0.26% |
52,319.20 |
|
S&P 500 |
0.79% |
7,499.36 |
|
Nasdaq Composite |
1.52% |
26,213.72 |
US Market Drivers
U.S. stock markets posted a strong second quarter despite geopolitical upheaval and uncertainty surrounding the U.S.-Iran war.
For the quarter ended June, the S&P 500 gained 14.87%, while the Dow rose 12.9% and the Nasdaq jumped 21.41% in the same period.
“What a quarter for stock investors! Brushing aside war and other worries, the Nasdaq gained 21% and the S&P 15%, their largest quarterly returns in six years,” said economist Mohamed A. El-Erian in a post on X.
Meanwhile, the Dow posted its best first-half performance in five years, gaining 8.85% in the first six months of 2026. The S&P 500 and Nasdaq also climbed 9.55% and 12.79%, respectively, for the same period. Most notably, the Russell 2000, which tracks small-cap stocks in the U.S., surged 21.86% to clock its best first-half performance in two and a half decades.
