Market Overview
U.S. financial markets are closed Thursday, June 19, 2025, in observance of the Juneteenth holiday, giving investors time to digest Wednesday’s Federal Reserve decision to hold interest rates steady amid ongoing economic uncertainty and escalating tensions in the Middle East.
When markets closed Wednesday, the Dow Jones Industrial Average had edged down 0.1% to 42,403.03, while the S&P 500 dipped fractionally to 6,010.41, and the tech-heavy Nasdaq Composite managed a slight gain of 0.1% to 19,637.94.
Fed Decision Impact
Wednesday’s Federal Reserve announcement to maintain current interest rates came as expected, but investors were particularly focused on Chair Jerome Powell’s post-meeting comments for clues about future rate cuts. The decision to hold rates steady reflects the central bank’s cautious approach amid mixed economic signals and heightened geopolitical tensions.
President Donald Trump voiced sharp criticism of Powell on Wednesday, calling him “stupid” and expressing frustration that the U.S. has not implemented rate cuts while “Europe had 10 cuts.”
Middle East Tensions
The ongoing conflict between Israel and Iran continues to influence market sentiment, with the situation entering its sixth day on Wednesday. Iran’s supreme leader warned that the U.S. would face “irreparable damage” if it enters the conflict, while President Trump has threatened potential military action.
Despite these tensions, markets have shown resilience, with Zachary Hill, head of portfolio management at Horizon Investments, noting that “the market just seems very keen to fade geopolitical risk.”
Sector and Stock Movements
Before Thursday’s holiday closure, several notable stock movements caught investors’ attention. Payment giants Mastercard (MA) and Visa (V) each fell approximately 5% on Wednesday, leading S&P 500 decliners amid concerns that new stablecoin rules could provide merchants with alternatives to card-based systems.
Technology stocks showed mixed performance, with Intel (INTC) among the top gainers on the Dow, rising 2.60%.
Financial stocks demonstrated strength, with Goldman Sachs (GS) and JPMorgan Chase (JPM) rising 2.17% and 2.15% respectively.
Commodities and Cryptocurrencies
Oil prices have been volatile in recent sessions due to concerns about potential supply disruptions related to the Middle East conflict. West Texas Intermediate futures, the U.S. crude oil benchmark, closed near $74.90 per barrel on Wednesday, their highest level since January.
Gold futures fell 0.6% to $3,385 an ounce on Wednesday, marking the third consecutive session of losses. The precious metal had traded as high as $3,470 the previous Friday as investors sought safe-haven assets amid geopolitical uncertainty.
In the cryptocurrency space, Bitcoin was trading around $104,500 on Wednesday afternoon, down slightly from its overnight high of $105,600.
Looking Ahead
When markets today reopen on Friday, investors will be watching for any developments in the Middle East situation and assessing the longer-term implications of the Fed’s latest policy stance. Economic data releases scheduled for Friday could also influence trading sentiment as the market continues to navigate the complex interplay of geopolitical tensions, monetary policy decisions, and corporate performance.

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.