S&P 500 Surges Above 7,545 on Iran Deal and Oil Drop

The S&P 500 extended its rebound, rising more than 1% on June 16 after the U.S.-Iran peace framework slashed oil prices nearly 5% and eased inflation fears. The index had plunged from the 7,620 peak to a 7,330.77 low after hotter May jobs and CPI above 4%, triggering a $1.8 trillion market-value wipeout and repeated warnings of an incomplete correction toward 6,800. A SpaceX-driven bounce on June 12 and the sharp June 15 gain of 1.54% to 7,545.29 reclaimed key moving averages, though technicians still flag downside risk ahead of the FOMC.