S&P 500 Rises on Falling Crude Ahead of Micron Earnings and PCE

The S&P 500 advanced 0.72% on June 24 as crude oil prices plunged more than 4% to multi-month lows, easing inflation fears and pushing bond yields lower. The move extended a recovery that began with the mid-June U.S.-Iran peace deal and record SpaceX IPO, which briefly lifted the index above 7,500. Gains have since moderated amid a hawkish Federal Reserve hold and renewed Hormuz uncertainty, leaving traders focused on Micron’s results and Thursday’s PCE report to gauge whether the rally can be sustained near record highs with Brent near $78.