Is this bull market too good to be true? On this episode of Market Sense, our Fidelity leaders dig into the data points driving the recent solid economic growth and resilient earnings. We’ll also discuss the potential peace agreement with Iran, the historic SpaceX IPO, and the forecast for interest rates as new Fed Chair Kevin Warsh presides over his first FOMC meeting. Position your portfolios for resilience and growth potential in the second half of 2026. Check out Fidelity&#x27;s 2026 Midyear Outlook page for more insights on the markets, investing and taxes from our Fidelity pros. Read the full transcript View the slides Watch the video replay

06.16.26 - How may SpaceX IPO, the Fed, & Iran move stocks?

Fidelity Viewpoints: Market Sense

# Full Transcript

**Podcast:** Fidelity Viewpoints: Market Sense

## Participants

- **Heather Hedges** (Fidelity)
- **Naveen Malwal** (Fidelity)
- **Bradford Pinalt** (Fidelity)

## Transcript

Hi there, everybody. Thank you so much for making the time to join us for another episode of Market Sense. I'm Heather Hedges with Fidelity. Right now, we're watching a potential diplomatic breakthrough that could end the 15-week conflict with Iran and open the Strait of Hormuz. The details are still being worked out right now, but the markets are in relief mode. And this could potentially add to what's already been a very strong year for market fundamentals and earnings momentum. Plus, it is a pivotal week for the Fed's new chairman, Kevin Warsh, as he leads his first meeting right now.

As we speak with central bank governors to talk about interest rates. So a lot going on. The headlines keep coming at us. And to help us navigate some of them today, we are joined by Naveen Malwell. He's a CFA charterholder here at Fidelity and an institutional portfolio manager for Strategic Advisors, which is our investment management firm here at Fidelity that helps to handle millions of client accounts. We're also excited to welcome a new face to the show, Bradford Pinalt. He is a CFA and the head of Capital Market Strategy and the CEO of the Fed.

Just here at Fidelity. And in that role, he travels the country speaking to advisors about the markets. So it's great to have both of you who have customer-facing roles and you're constantly watching and helping customers digest and interpret information from the markets. I'm excited for this conversation today. And Bradford, welcome. Thank you so much, Heather. It's great to be here. It's good to be here.

And with that, today is Tuesday, June 16th. And after 15 weeks of soaring energy prices, you know, the U.S. and Iran say they've reached an interim peace agreement to open the strait, Naveen. You know, at this point, we don't know all of the details about this potential deal. But can you walk us through what we know so far, what this could mean for the markets? And also probably the number one question for the American consumer out there is, we know it might take some time for gas prices to come down. But when could that start happening?

Right. So big headline over the weekend around a potential agreement maybe getting signed on Friday. The details, as you said, are pretty murky. Statements have not been fully released. Some disagreement on what's been agreed to, what hasn't. However, this does feel like a significant step forward, hopefully to some sort of long-term resolution. And as you pointed out at the open, the market has responded positively. So the stock market has been up. Oil prices have been cooling down here in the U.S. and overseas.

And then we've also seen a little downtick in interest rates as maybe some pressure off inflation and the potential for easing oil prices coming through. To your point, thou...

06.16.26 - How may SpaceX IPO, the Fed, & Iran move stocks?

Transcript

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06.16.26 - How may SpaceX IPO, the Fed, & Iran move stocks?

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.