02:46 PM EDT, 06/24/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday, while oil prices retreated following a US-brokered ceasefire between Israel and Iran.

The Nasdaq Composite was up 1.5% at 19,924.9 after midday Tuesday, while the Dow Jones Industrial Average and the S&P 500 rose 1.1% each to 43,054.7 and 6,092.3, respectively. Barring energy, all sectors were in the green, led by technology and financials.

"Both Israel and Iran wanted to stop the war, equally," US President Donald Trump said in a social medial post. "It was my great honor to destroy all nuclear facilities (and) capability, and then, stop the war."

However, both Iran and Israel have accused each other of violating the truce.

West Texas Intermediate crude oil was down 5.7% at $64.58 a barrel intraday, following a sharp decline in the previous session.

Federal Reserve Chair Jerome Powell said Tuesday that the central bank's Federal Open Market Committee is currently "well positioned to wait to learn more about the likely course" of the economy before considering any monetary policy adjustments.

The US economy is in a "solid position" despite elevated uncertainty, while the unemployment rate remains low, Powell said in prepared remarks to the House Committee on Financial Services.

Powell is scheduled to testify before the Senate Committee on Banking, Housing, and Urban Affairs Wednesday as a part of his semi-annual testimony to Congress.

Cleveland Fed President Beth Hammack said Tuesday she doesn't see a weakening in the economy that would merit "imminent" policy easing.

"When clarity is hard to come by, waiting for additional data will help inform the path ahead," Hammack said. "It may well be the case that policy remains on hold for quite some time before the committee initiates very modest cuts to return policy to a neutral setting."

Separately, New York Fed President John Williams said he expects the tariffs enacted this year to increase inflation to about 3% in 2025. Over the next two years, inflation is likely to gradually drop to 2% as the effects of tariffs fade, he said.

US Treasury yields were lower intraday, with the 10-year rate falling 2.9 basis points to 4.29% and the two-year rate decreasing 2.1 basis points to 3.81%.

In economic news, US consumer confidence unexpectedly fell in June as views on current and future conditions deteriorated amid uncertainty around the effects of tariffs, the Conference Board said.

US home prices fell sequentially in April, while the annual growth rate was the slowest in nearly two years, S&P Global ( SPGI ) division S&P Dow Jones Indices said.

Separately, the Federal Housing Finance Agency said home prices dropped 0.4% in April on a seasonally adjusted basis, compared with March's upwardly revised flat print.

In company news, Uber Technologies ( UBER ) said it is launching autonomous ride-hailing services in Atlanta in partnership with Alphabet's (GOOG, GOOGL) Waymo. Uber ( UBER ) shares were up 7.8%, the second-top gainer on the S&P 500, while Alphabet's class A and C shares rose more than 1.3% each.

PepsiCo ( PEP ) said it plans to deploy Salesforce's ( CRM ) digital labor platform Agentforce into its field operations. Salesforce ( CRM ) shares rose 3.3%, the best performer on the Dow, while PepsiCo ( PEP ) advanced 1.1%.

Gold was down 1.9% at $3,331.3 per troy ounce, while silver lost 1.2% to $35.77 per ounce.