Dow Hits Record Above 52,000 as Oil Tumbles on Iran Deal Hopes

Dow closes above 52,000 for first time as banks and industrials surge The Dow Jones Industrial Average rose 0.64% to a record 52,003.34 on Tuesday, marking its first close above the 52,000 threshold. Gains were led by financial and industrial stocks as investors rotated out of tech names ahead of the Federal Reserve's policy decision. 123

Oil prices slide below $80 a barrel as US-Iran deal eases supply fears Brent crude futures fell nearly 5% to just above $83 a barrel, while U.S. crude dropped below $80, following the announcement of a tentative agreement to end the U.S.-Israel war on Iran. The potential reopening of the Strait of Hormuz is expected to restore stability to global energy supply chains. 456

SpaceX stock extends post-IPO rally, pushing valuation past $2.8 trillion Shares of SpaceX climbed another 7% on Tuesday after gaining 20% in their first full trading day, bringing the company's market capitalization above $2.8 trillion. The record-breaking IPO has made Elon Musk the world's first trillionaire and vaulted SpaceX past Amazon and Meta in market value. 789

Yum Brands agrees to sell Pizza Hut for $2.7 billion Yum Brands announced it will sell its Pizza Hut division, excluding Mainland China, to private equity firm LongRange Capital for $1.5 billion, while Yum China will acquire the China operations for $1.2 billion. The deal is expected to close in the third quarter of 2026 as Yum focuses on its core brands. 10

Fed begins two-day meeting with rates expected to stay on hold The Federal Reserve's June meeting kicked off Tuesday with markets pricing a 97% probability that the central bank will keep its benchmark rate at 3.50%-3.75%. Investors are focused on new Chair Kevin Warsh's first press conference and updated dot plot projections for future rate moves. 31112