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June 16, 2026 - 11:43
3 minutes
(Bloomberg) — US stocks paused after a three-day rally with investors shifting their focus to a raft of central bank decisions this week. SpaceX continued to surge, on track for a more than 50% jump since going public.S&P 500 futures were little changed after the benchmark notched a gain of about 2% since Thursday. SpaceX rose 11% in early trading. European and Asian indexes posted modest advances. Brent crude fell 2.6% to about $81 a barrel as strategists cut their oil price forecasts. The dollar was flat and Treasuries edged higher.The focus on Wall Street is now turning to the first Federal Reserve meeting under Kevin Warsh. While the central bank is expected to hold interest rates steady on Wednesday, the spotlight will be on how Warsh navigates the post-meeting press conference and the outlook for inflation.“All eyes will remain on the Fed for now and how Kevin Warsh will handle the competing pressures from rising inflation and the prospect of lower energy inflation once the Strait of Hormuz reopens,” said Joachim Klement at Panmure Liberum.Meanwhile, oil headed for its longest run of declines this year. Both Morgan Stanley and Goldman Sachs Group Inc. have cut price outlooks for the coming quarters, with the latter now assuming Persian Gulf exports will reach pre-war levels by the end of July, a month earlier than previously forecast.Oil’s drop to the lowest since early March has erased the bulk of the gains seen during the conflict, easing inflationary pressures just as policymakers assess interest rates.The Bank of Japan and Reserve Bank of Australia kicked off a slate of decisions for the week. The BOJ raised its benchmark rate by a quarter percentage point to 1%, the highest level since 1995. The yen pared gains against the dollar while local bonds fell. The RBA kept its key interest rate unchanged for the first time this year.The Bank of England and Swiss National Bank are also widely anticipated to stand pat this week. Their decisions come after the European Central Bank last week raised rates for the first time in almost three years, with President Christine Lagarde warning inflation triggered by the Iran war is widening beyond just energy.Some of the main moves in markets:StocksS&P 500 futures were little changed as of 5:37 a.m. New York time Nasdaq 100 futures rose 0.2% Futures on the Dow Jones Industrial Average were little changed The Stoxx Europe 600 rose 0.5% The MSCI World Index was little changed CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1602 The British pound was little changed at $1.3419 The Japanese yen was little changed at 160.32 per dollar CryptocurrenciesBitcoin rose 0.1% to $66,591.38 Ether fell 1.5% to $1,789.7 BondsThe yield on 10-year Treasuries declined three basis points to 4.44% Germany’s 10-year yield declined two basis points to 2.93% Britain’s 10-year yield declined three basis points to 4.78% CommoditiesWest Texas Intermediate crude fell 2.8% to $78.89 a barrel Spot gold rose 0.8% to $4,345.90 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Shikhar Balwani.©2026 Bloomberg L.P.
