The S&P 500 closed higher on Monday, June 22, 2026, gaining 80.48 points to finish at 7,500.58, a 1.08% advance, despite weakness in several Big Tech stocks that pulled markets lower earlier in the session.
SpaceX struggled significantly, falling more than 5% in premarket trading and extending its losing streak to three consecutive trading days, though the rocket company remains up roughly 31% from its initial public offering price of $135.
The broader market’s resilience came as investors digested developments in U.S.-Iran peace negotiations and awaited inflation data closely watched by the Federal Reserve. Mediators Qatar and Pakistan said the two countries had agreed on a roadmap to reach a final deal within 60 days.
Memory chip makers showed strength, with Micron Technology rising 4.5% after Bernstein raised its price target to $1,300 and Needham hiked its outlook to $1,550. The company is set to report quarterly earnings on Wednesday after the closing bell.
Treasury yields climbed to start the week, with the 2-year note hitting 4.0442%, its highest level since February 21, 2025, and the 10-year Treasury note scaling to 4.5048%, its highest since June 12. The moves reflected lingering tensions between Iran and the U.S. even as peace talks progressed.
Brent crude futures initially gained, then fell 1.6% to $79.30 a barrel after the roadmap announcement, while U.S. West Texas Intermediate futures pared earlier gains to trade about 0.8% lower at $76. Oil prices had surged on the weekend after President Donald Trump threatened fresh military strikes on Iran.
The S&P 500’s advance capped a week of gains for the benchmark index, which rose nearly 1% over the five-day period. The Dow Jones Industrial Average also posted a roughly 1% weekly gain, while the Nasdaq Composite advanced more than 2%.
Market participants remain focused on Thursday’s release of May’s personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge. Following the Fed’s hawkish meeting last week, where officials signaled a potential rate increase as soon as October, investors are laser-focused on inflation readings that could confirm the central bank’s tightening path.
Sources
- Yahoo Finance — S&P 500 closing price and daily performance on June 22, 2026
- CNBC — SpaceX premarket trading activity, Micron Technology price targets, Treasury yields, and oil price movements
- Investing.com — S&P 500 intraday range and closing price confirmation
- Trading Economics — S&P 500 index movement and daily percentage change
