US open: Major indices trade higher as Dow builds on record close

16th Jun 2026 13:42

(Sharecast News) - Major indices were in the green early on Tuesday, with the Dow Jones building on its record close.

As of 1500 BST, the Dow Jones Industrial Average was up 0.67% at 52,018.90, while the S&P 500 advanced 0.08% to 7,560.53 and the Nasdaq Composite came out of the gate 0.12% firmer at 26,715.83.

The Dow opened 347.87 points higher on Tuesday, extending record-setting gains recorded in the previous session.

Tuesday's early moves come after Donald Trump announced that the US and Iran had reached an agreement to end the war in the Middle East. Pakistan's prime minister Shehbaz Sharif said both sides had declared an end to military operations, with a formal signing ceremony expected on Friday in Switzerland.

A senior US official said the memorandum of understanding had already been signed electronically on Sunday, while Trump also said the Strait of Hormuz would reopen on Friday and vice‑president JD Vance added the passageway would remain "toll‑free" over the long term. Oil prices continued to head south on Tuesday, with West Texas Intermediate down 3.42% at $77.99 a barrel, and international benchmark Brent crude dropping 3.37% to $80.37 a barrel.

On the macro front, US housing starts and building permits both softened in May, according to the Census Bureau, pointing to a cooler pace of homebuilding activity. Housing starts dropped 15.4% to an annual rate of 1.17m, well below April's revised 1.39m reading and down 8.7% year-on-year. Single‑family starts slipped to 882,000, while construction of larger multi‑unit buildings fell to 284,000.

Building permits, a forward‑looking indicator, also eased, dipping 0.7% to 1.41m, with overall authorisations slightly below last year's level, though single‑family permits edged up to 886,000. Permits for buildings with five units or more came in at 474,000, suggesting continued caution among developers despite pockets of resilience in the single‑family segment. Housing completions also weakened in May, falling 8.1% to an annual rate of 1.31m, down from April's revised 1.42m print and 14.2% lower than at the same time a year earlier, underscoring the broader slowdown across the homebuilding sector.

In the corporate space, Elon Musk's SpaceX registered solid gains at the open, adding to the newly listed company's IPO rally.

La-Z-Boy was slated to report earnings after the close.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Home Depot Inc. (HD) $337.23 2.16%

Caterpillar Inc. (CAT) $950.56 2.12%

JP Morgan Chase & Co. (JPM) $325.68 2.05%

3M Co. (MMM) $161.41 1.88%

Nike Inc. (NKE) $45.71 1.73%

Goldman Sachs Group Inc. (GS) $1,090.53 1.68%

International Business Machines Corporation (CDI) (IBM) $274.14 1.61%

Procter & Gamble Co. (PG) $151.60 1.14%

Visa Inc. (V) $327.41 0.99%

American Express Co. (AXP) $338.68 0.90%

Dow Jones - Fallers

Intel Corp. (INTC) $126.54 -2.51%

Microsoft Corp. (MSFT) $394.04 -0.81%

Chevron Corp. (CVX) $179.21 -0.55%

Unitedhealth Group Inc. (UNH) $409.40 -0.53%

Cisco Systems Inc. (CSCO) $120.27 -0.50%

Dow Chemical Co. (DOW) $33.27 -0.47%

Coca-Cola Co. (KO) $80.53 -0.30%

Amgen Inc. (AMGN) $350.08 -0.19%

Salesforce.Com Inc. (CRM) $165.58 -0.01%

S&P 500 - Risers

Western Digital Corp. (WDC) $713.66 10.45%

Seagate Technology Plc (STX) $1,078.19 7.58%

Bath & Body Works, Inc. (BBWI) $20.61 5.50%

Micron Technology Inc. (MU) $1,097.92 4.66%

Dxc Technology Company (DXC) $9.28 4.43%

Southwest Airlines Co. (LUV) $47.81 3.99%

Expedia Group Inc. (EXPE) $241.06 3.49%

Yum! Brands Inc. (YUM) $158.65 3.38%

Alaska Air Group Inc. (ALK) $50.51 3.16%

GE Aerospace (GE) $352.12 2.99%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

TripAdvisor Inc. (TRIP) $12.58 -6.41%

Marriott International - Class A (MAR) $391.04 -4.39%

Macerich Co (MAC) $24.02 -3.97%

KLA-Tencor Corp. (KLAC) $251.16 -3.36%

Apache Corp. (APA) $34.25 -2.97%

Wynn Resorts Ltd. (WYNN) $106.50 -2.89%

Sba Communications Corp. (SBAC) $195.83 -2.85%

Tractor Supply Company (TSCO) $30.21 -2.55%

Intel Corp. (INTC) $126.54 -2.51%

Nasdaq 100 - Risers

Western Digital Corp. (WDC) $713.66 10.45%

Seagate Technology Plc (STX) $1,078.19 7.58%

Micron Technology Inc. (MU) $1,097.92 4.66%

Expedia Group Inc. (EXPE) $241.06 3.49%

Mercadolibre Inc. (MELI) $1,695.46 2.80%

Paypal Holdings Inc (PYPL) $43.74 2.20%

DENTSPLY Sirona Inc. (XRAY) $10.56 2.08%

Meta Platforms Inc. (META) $600.00 1.75%

Illumina Inc. (ILMN) $164.11 1.70%

Monster Beverage Corp (MNST) $92.97 1.65%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Marriott International - Class A (MAR) $391.04 -4.39%

Workday, Inc. (WDAY) $128.20 -3.55%

Baidu Inc. (BIDU) $113.85 -3.53%

KLA-Tencor Corp. (KLAC) $251.16 -3.36%

Wynn Resorts Ltd. (WYNN) $106.50 -2.89%

NetEase Inc. Ads (NTES) $124.39 -2.75%

Intel Corp. (INTC) $126.54 -2.51%

Liberty Global plc Series A (LBTYA) $12.07 -2.38%

J.B. Hunt Transport Services Inc. (JBHT) $279.14 -2.28%