Stock Market Update

[BRIEFING.COM] The major averages remain on track for a mostly lower finish with just half an hour left in today's session.

Crude oil futures settled today's session $4.84 lower (-6.0%) at $76.06 per barrel, which contributed to some solid rotational gains in the broader market despite a weaker showing from the market's largest components today.

Before Friday's planned signing of the U.S.-Iran peace agreement, which prompted the pullback in oil prices, the market will navigate the June FOMC meeting tomorrow afternoon. While the market is fully expectant that the Fed will leave rates unchanged, the meeting will mark the first with newly minted Fed Chair Kevin Warsh at the helm. Investors will be particularly attuned to any commentary from Mr. Warsh signaling the Fed's expected policy path, particularly given that the U.S.-Iran conflict seems to be on the brink of a more permanent resolution.