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Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish

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Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish

The benchmark US stock measures rose before the bell Tuesday as markets head toward a strong finish to the second quarter.

The S&P 500 and the Nasdaq edged up 0.1% each in premarket activity, while the Dow Jones Industrial Average added 0.2%. The indexes finished the previous trading session in the green, with the Dow hitting a fresh all-time high.

The S&P 500 and the Nasdaq Composite were headed for their best quarter in six years, while the Dow was on track for its best quarterly gain since 2022, Reuters reported.

US markets will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.

Markets were buoyed after the US Supreme Court on Monday rejected President Donald Trump's request to overturn a lower court's ruling that prevented him from firing Federal Reserve Governor Lisa Cook.

In August 2025, Trump attempted to fire Cook over mortgage fraud allegations. Cook challenged the decision in a federal court, which issued a temporary restraining order that blocked the attempted removal.

Iran reportedly said Monday that no talks were scheduled with the US in the coming days, despite Trump saying Washington will meet with Tehran in Qatar on Tuesday. Both sides recently engaged in attacks in and around the Strait of Hormuz, but agreed to pause hostilities to continue talks on a peace deal reached earlier in the month.

West Texas Intermediate crude oil rose 0.3% to $70.97 a barrel before the opening bell, while Brent ticked up 0.1% to $73.22.

Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for April, at 9 am ET. The Chicago purchasing managers' index for June posts at 9:45 am, followed by the consumer confidence report for the same month at 10 am.

The Job Openings and Labor Turnover Survey for May is also out at 10 am. Cleveland Fed President Beth Hammack is scheduled to speak at 10:40 am.

Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 4.1% and the 10-year rate off 0.7 basis point to 4.37%.

Shares of AeroVironment (AVAV) jumped 24% pre-bell as the drone maker reported stronger-than-expected fiscal fourth-quarter results and issued an upbeat full-year revenue outlook at the midpoint. Super Micro Computer (SMCI) rebounded 1.9% following an 8.1% drop at the close of Monday.

Rocket Lab (RKLB) rose 3.3% after closing the previous session up 16%. The company recently agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company.

Sportswear giant Nike (NKE) and beer and wine company Constellation Brands (STZ) are expected to release their latest quarterly results after the markets close.

Gold inched higher at $4,040 per troy ounce, while bitcoin fell 1.7% to $59,275.

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Australia's Central Bank Ready to Raise Rates if Needed After June's Hold Decision

Australia's central bank said it is willing to take necessary steps to achieve price stability and full employment, including increasing the cash rate target.The Reserve Bank of Australia decided to leave interest rates unchanged at its June meeting, given the ongoing uncertainty related to developments in the Middle East.Minutes released from the June monetary policy showed that board members believed a durable US-Iran resolution could limit costs passed on to consumers by firms, but noted that underlying inflation would still show lingering effects of the recent fuel shock.The Reserve Bank of Australia's monetary policy board members decided to hold rates at 4.35% to balance its inflation and employment targets.Members agreed policy needed to stay restrictive to unwind excess demand through below-trend growth, with inflation remaining well above target and staff's May forecasts pointing to a further two years before it returns to target on a sustainable basis.The board members believe it would take considerable time to restore oil supply to pre-conflict levels even if the current resolution proves enduring, and noted demand could be buoyed for a time as countries look to rebuild inventories.The minutes were described as "hawkish" by ANZ, which continues to expect the interest rate to remain at 4.35% for the next year.Amid a developing Middle East peace resolution, reduced fuel costs, and a decreased May unemployment rate, Australian consumers are showing optimism as ANZ's consumer confidence survey showed a second consecutive weekly rise in June.The RBA is scheduled to meet again in August, while the ASX Rate Indicator showed 81% market expectations of another hold decision.

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Japan's unemployment rate held steady as expected in May, while a gauge of labor market tightness eased, defying market expectations.The seasonally adjusted unemployment rate remained unchanged at 2.5% in May, matching the consensus forecast tracked by Investing.com.The total number of unemployed persons grew by 20,000 to 1.85 million year over year, while the number of employed persons expanded by 520,000 to 68.9 million, according to data from the Ministry of Internal Affairs and Communications on Tuesday.A separate release from the Ministry of Health, Labour and Welfare showed a softer picture, with the active jobs-to-applications ratio falling to 1.17 from 1.18 in the prior month.The figure indicates that there were 117 available job openings for every 100 job seekers across the country.The reading missed the consensus forecast of 1.18 tracked by Investing.com.Meanwhile, the new jobs-to-applications ratio steadied at 2.11.Effective job openings rose 0.3% month over month on a seasonally adjusted basis, easing from the 0.4% increase in April. Effective job seekers edged up 0.7%, also softer than the 0.8% gain the previous month.New job openings contracted 8.9% year over year in May, faster than the 3.6% slump in April. The sharper decrease in new job vacancies was due to a double-digit drop in openings across lifestyle-related services and entertainment, wholesale and retail trade, accommodation and food service industries, as well as construction.The effective job-to-applicant ratio for regular employees, which excludes part-time workers, held steady at 0.99.The labor data arrived less than two weeks after Japan reported higher inflation figures for May.The nationwide core consumer price index (CPI), which strips out volatile fresh food prices and is the BOJ's preferred inflation gauge, rose 1.4% year over year in May, unchanged from April's reading.Japan's headline CPI climbed 1.5% year over year in May, faster than the 1.4% increase in April, but missing the Trading Economics forecast of 1.6%.Real wages in Japan, meanwhile, climbed 1.9% year over year in April, according to recent government data.The Bank of Japan recently raised its policy rate by 25 basis points to 1.0%, the highest level since 1995.BOJ board member Naoki Tamura, speaking to business leaders in Hyogo last week, noted that the employment conditions diffusion index in the BOJ's Tankan survey, which captures companies' perceptions over labor shortages, had tightened further in recent quarters, with the all-industries reading at -38 as of March 2026."As a result of such labor shortages, firms may be unable to operate production facilities as they wish to, leading to a decline in capacity utilization rates," Naoki Tamura said.In April, Japan's capacity utilization index fell 0.8% month over month, softer than the 1.2% drop the previous month, according to Ministry of Economy, Trade and Industry data earlier this month.

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Update: Dow Posts New High to Kick Off Holiday-Shortened Trading Week
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Update: Dow Posts New High to Kick Off Holiday-Shortened Trading Week

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