The Dow Jones soared to new all-time highs on Monday as the other major averages traded higher across the board following news of a preliminary peace deal between the U.S. and Iran. Dominic Chu and Kelly Evans break down the market action with Charles Schwab’s Liz Ann Sonders, Neuberger’s Jeff Blazek, and Bank of America’s Savita Subramanian. Meanwhile, Micron added to its recent rally with a near double-digit gain after TD Cowen raised its price target from $660 to $1,500, and the analyst behind that note joined the anchors to explain his methodology Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets rally after Pres. Trump signs Iran deal memorandum 6/15/26

Power Lunch

And markets are definitely in rally mode today. Welcome to Power Lunch. Alongside Dominic Chu, I'm Kelly Evans. And we're higher across the board on a potential deal to end the war in Iran. We'll have full markets coverage of this story today with Savita Subramanian, head of U.S. equity strategy at B of A, Lizanne Saunders, the chief investment strategist at Charles Schwab, and Jeff Blazek, the co-CIO of multi-asset strategy at Newburger.

All right, plus one stock that's rallying today bigly is Micron, up more than 800 percent over the course of the past year, up another 10 percent today. TD Cowan's raising its target price to $1,500 per share, betting that AI's demand for more memory is just getting started. We got the analysts behind that big call coming up, Kelly.

But let's begin with the record rally, the Dow touching a new intraday high after President Trump announced a preliminary peace agreement between the U.S. and Iran. As a result, Treasury yields are also sliding about 446 at last check there for the 10-year. Ahead of the big test for the markets, Kevin Warsh's first Fed meeting as chairman. Joining us now to discuss is Jeff Blazek. As we mentioned, he's the co-CIO of multi-asset at Newburger and Lizanne Saunders over at Schwab. Jeff, I'll start with you. You're right here. Welcome. Thank you.

And the joke is going around, but it feels so true. Whatever the geopolitics is, it seems like the memory trade is ripping. Whatever, you know, tie this all together for us in a way that makes sense. Does it have anything to do with this deal being potentially reached today? Is it because of how well the SpaceX IPO went? Is it none of that? Well, this deal being reached clears...

Markets rally after Pres. Trump signs Iran deal memorandum 6/15/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Markets rally after Pres. Trump signs Iran deal memorandum 6/15/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.