--- title: "Dow Extends Record Run as Fed Decision Looms" type: "News" locale: "en" url: "https://longbridge.com/en/news/290078809.md" description: "The Dow Jones extended its record run with triple-digit gains, while the S&P 500 remained flat and the Nasdaq dipped slightly. Investors await the Federal Reserve's interest rate decision, widely expected to hold rates steady. Oil prices rose following comments from President Trump regarding an unfinalized peace deal with Iran. In individual stocks, Applied Materials hit record highs on upgraded forecasts, Intellia Therapeutics surged on strong clinical data, and Carvana slid amid margin concerns." datetime: "2026-06-17T16:05:42.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290078809.md) - [en](https://longbridge.com/en/news/290078809.md) - [zh-HK](https://longbridge.com/zh-HK/news/290078809.md) --- # Dow Extends Record Run as Fed Decision Looms Trading is unfolding much like yesterday, with the Dow Jones Industrial Average (DJI) up triple digits and fresh off another record high. Despite a surge in the chip sector, the S&P 500 Index (SPX) sits flat and the Nasdaq Composite Index (IXIC) is trading modestly lower. Investors are eagerly awaiting the Federal Reserve's interest rate decision, due out at 2:00 p.m. ET, where rates are widely expected to remain unchanged. Meanwhile, oil prices are climbing after President Donald Trump said a peace deal with Iran **had not yet been finalized**, while SpaceX (SPCX) is finally cooling off from its post-IPO rally. _Continue reading for more on today's market, including:_ - Options traders eye **CarMax stock** amid post-earnings tumble. - Software stock lands **"buy" rating** after 11-day losing streak. - Plus, bulls target biotech stock; AMAT hits record highs; and CVNA slides. Options bulls are targeting **Intellia Therapeutics Inc (NASDAQ:NTLA)** today, with 11,000 calls exchanged so far, nine times the amount typically seen at this point, in comparison to just 2,221 puts. The June 14 call is the most popular, followed by the August 14 call, with new positions opening at the latter. The biotech stock is up 10.3% to trade at $16.05, after the company earlier this week published strong phase 3 data for Lonvo-Z, its in vivo CRISPR gene editing candidate. The $16 level has provided pressure since a late-October bear gap, however. **Applied Materials Inc (NASDAQ:AMAT)** stockis surging to record highs, last seen up 9.5% to trade at $622.27, earlier hitting a record $623.35. One of the **many chip stocks** rebounding after yesterday's selloff, AMAT also received a price-target hike from Citigroup to $710 from $550 after forecasts for global wafer fab equipment (WFE) spending were updated. Plus, Applied Materials also announced a new smart glasses display platform called SENZ. Year to date, the equity is up 140%. One of the worst stocks on the New York Stock Exchange (NYSE) today, **Carvana Co (NYSE:CVNA)** was last seen down 7.8% at $64.44, in sympathy with CarMax (KMX) stock's post-earnings tumble. Margins concerns are weighing on the shares, while CNBC reported Tuesday that the company had "quietly" bought seven Stellantis locations since last year. Year to date, CVNA is down 23.8%. ### Related Stocks - [NTLA.US](https://longbridge.com/en/quote/NTLA.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [CVNA.US](https://longbridge.com/en/quote/CVNA.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [AMAT.US](https://longbridge.com/en/quote/AMAT.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [DIA.US](https://longbridge.com/en/quote/DIA.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [DOG.US](https://longbridge.com/en/quote/DOG.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [QQQE.US](https://longbridge.com/en/quote/QQQE.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [CVNY.US](https://longbridge.com/en/quote/CVNY.US.md) - [DDM.US](https://longbridge.com/en/quote/DDM.US.md) - [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md) - [CVNX.US](https://longbridge.com/en/quote/CVNX.US.md) - [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md) - [DXD.US](https://longbridge.com/en/quote/DXD.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [ONEQ.US](https://longbridge.com/en/quote/ONEQ.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) - [SDS.US](https://longbridge.com/en/quote/SDS.US.md) - [SPYI.US](https://longbridge.com/en/quote/SPYI.US.md) - [JEPI.US](https://longbridge.com/en/quote/JEPI.US.md) - [XYLD.US](https://longbridge.com/en/quote/XYLD.US.md) - [AMA.US](https://longbridge.com/en/quote/AMA.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [KMX.US](https://longbridge.com/en/quote/KMX.US.md) - [C.US](https://longbridge.com/en/quote/C.US.md) - [STLA.US](https://longbridge.com/en/quote/STLA.US.md) - [C-R.US](https://longbridge.com/en/quote/C-R.US.md) ## Related News & Research - [Oil eases as weaker demand outlook counters Mideast supply concerns](https://longbridge.com/en/news/295744721.md) - [4-Oil set for weekly gains after US threatens indefinite blockade of Iran](https://longbridge.com/en/news/295923118.md) - [Applied Materials Stock Is Down on Earnings. Here’s What Barchart Options Data Says Could Come Next for AMAT.](https://longbridge.com/en/news/295967382.md) - [Oil drops on lower demand forecasts despite deadlock in US-Iran talks](https://longbridge.com/en/news/295727368.md) - [EXCLUSIVE-Trump approval falls to 33%, lowest of his presidency, Reuters/Ipsos poll finds](https://longbridge.com/en/news/296137029.md)