Weekly Commentary (06/22/2026) - “U.S. – Iran Talks”

Weekly Commentary (06/22/2026) - “U.S. – Iran Talks”

Wall Street wrapped up a holiday-shortened but volatile week in positive territory as investors hemmed and hawed over an Iran War peace deal and hawkish Federal Reserve commentary.
The US and Iran entered a “memorandum of understanding” (MOU) to end the military conflict and open the Strait of Hormuz, which much of the world’s oil, gas, and fertilizer runs through. The price of oil precipitously dropped, and investors exhaled.
The newly appointed Federal Reserve Chair, Kevin Warsh, stated that forward guidance is no longer suited for this environment, leaving investors somewhat in the dark. Policy makers did not change the Federal Funds rate and were divided on a rate increase. They expect the personal consumption expenditure (PCE) inflation index and core PCE inflation to increase this year to 3.6% and 3.3%, respectively.
The driver for the stock markets has been AI investments and robust corporate earnings. Earnings are expected to grow 22% this year, which is 13% higher than expectations at the beginning of the year. Amazingly 85% of companies in the S&P 500 exceeded EPS estimates during the first quarter, according to FactSet. The housing market showed further weakening with housing starts falling 15.4%, the weakest reading since May 2020. Retail sales rose 0.9% in May, exceeding analysts’ expectations of 0.5%. The labor market continues to exhibit strength with initial unemployment claims falling by 4,000.
As a result of a hawkish leaning Federal Reserve, U.S. government bond yields fluctuated throughout the week. The 10-year Treasury closed at 4.46%, virtually unchanged for the week. 
This week the focus will be on the Iran negotiations and the Personal Consumption Expenditures (PCE) index, which has been the Federal Reserve’s preferred inflation gauge.
With the pulse on the Iran and U.S. negotiations being closely observed, we feel that diversification will remain crucial for consistent investment returns.
“A father carries pictures where his money used to be.”- Steve Martin

Sources Market data: J.P. Morgan Asset Management, Weekly Market Recap, June 22, 2026. Index returns, yields, key rates, and commodity prices as cited in the Weekly Data Center. All equity returns represent total return for stated period. Oil and Gold: Wall Street Journal Markets Digest, June 22, 2026. Economic data: MarketWatch.com. Charts and portfolio data: YCharts.com. FactSet data cited by  Seeking Alpha.
NDS Wealth Advisors believes these sources are reliable but cannot guarantee the accuracy or completeness of third-party data and assumes no liability for errors or omissions.
Disclosures This material is for informational and educational purposes only and should not be relied upon as investment, legal, or tax advice, or a recommendation of any particular security, strategy, or investment product. Any economic forecasts or market outlooks expressed herein are forward-looking statements, subject to change without notice, and may not materialize. Investors cannot invest directly in an index. Index returns do not reflect the deduction of fees, commissions, or expenses, which would reduce overall performance. Past performance does not guarantee future results. Diversification does not guarantee investment returns and does not eliminate the risk of loss. This material does not consider the investment objectives, financial situation, or unique needs of any individual investor. Consult your financial advisor before making any investment decisions.