S&P 500 Rises on US-Iran Deal, Warsh and SpaceX IPO

The S&P 500 and top ETFs including State Street’s SPY, Vanguard’s VOO and BlackRock’s IVV rose for a second consecutive day, with the index advancing to about 7,430 from this month’s low near 7,240. The gains followed political developments, central bank attention and the high-profile debut of SpaceX stock.

President Donald Trump confirmed the United States would sign a US-Iran agreement. Iranian officials said the signing could be delayed and might take place electronically. The market reaction reflected expectations that a formal accord could ease regional tensions and affect energy markets.

There are political and security risks that could affect the deal. Opposition in the United States, including pro-Israel groups, and continued fighting in Lebanon were cited by market participants as potential factors that could undermine negotiations or complicate implementation.

Recent inflation data showed the headline Consumer Price Index rose 4.2% in May year over year, while the Producer Price Index increased 6.4% year over year. Following those releases and the diplomatic headlines, the 10-year Treasury yield fell to about 4.8% and the five-year near 4.21%.

Monetary policy will be in focus this week as Kevin Warsh, President Trump’s nominee to replace Jerome Powell, oversees his first Federal Reserve policy decision. Economists expect the Fed to hold the target range for the policy rate at 3.50%–3.75%. Market attention is likely to center on Warsh’s public remarks for guidance on the outlook.

Other central bank decisions are also scheduled this week, including the Bank of England, the Bank of Japan and the central banks of Brazil, Switzerland, Norway and Russia. Major U.S. data due this week include retail sales, initial jobless claims, export and import prices, and industrial production.

SpaceX’s initial public offering added another element to market moves. The company’s shares rose 19% on their first trading day, taking the company’s market value above $2 trillion and elevating Elon Musk’s personal net worth into trillion-dollar territory. Newly listed stocks often see volatility after their debuts; traders noted that early profit-taking in SpaceX could influence broader risk appetite.

Market participants said they will monitor three immediate crosscurrents: the durability of the US‑Iran agreement, signals from Warsh and other central banks on interest rates, and the short-term path of SpaceX shares. Each factor could affect equity prices, bond yields and commodity markets in the coming days.