Finance

The Federal Open Market Committee has convened for its first policy meeting chaired by Kevin Warsh, with markets widely expecting interest rates to remain steady between 3.5% and 3.75%. Investors are closely monitoring the release of the updated 'dot plot' for signals on future monetary policy amid persistent core inflation and recent geopolitical shifts.

Space Exploration Technologies Corp. (SpaceX) finalized the largest initial public offering in history, with its shares jumping approximately 20% in early trading. The stock's performance has provided a significant boost to the Nasdaq 100, closing its first Monday of trading above the $190 mark.

The yield on the 10-year U.S. Treasury note held steady around 4.47% as the bond market showed a more cautious reaction to the U.S.-Iran peace deal than equities. Analysts suggest that yields remain elevated due to sticky core inflation in services and the ongoing impact of high energy prices on long-term projections.