Dow Rises as Markets Pause Ahead of Warsh's Fed Debut and Hormuz Watch

Stocks were mixed as investors awaited Fed Chair Kevin Warsh's first policy meeting: the Dow rose about 0.8% after a record rally, while the S&P 500 and Nasdaq slipped roughly 0.3% and 0.7% as energy-market tensions from Iran and the Strait of Hormuz weighed on sentiment. Global backdrop included a 31-year high BOJ rate hike, oil easing below $80 on Hormuz reopening hopes, and a continued post-IPO rally for SpaceX, with traders weighing whether the Fed will signal easier or tighter policy later this year amid inflation pressures.