S&P 500 – 7,431.46 (+0.50%)

Dow Jones – 51,202.26 (+0.70%)

NASDAQ – 25,888.84 (+0.31%)

• Peace Talks Lift Markets: U.S. equity markets extended their gains to end the week as optimism grew around a potential U.S.-Iran peace agreement, with both nations signaling progress in ongoing negotiations.
• Oil Prices Retreat: Hopes for easing geopolitical tensions pushed WTI crude oil down to approximately $84 per barrel, near levels seen before the recent escalation of conflict in the Middle East.
• Global Equities Advance: Lower oil prices fueled gains across European and Asian markets, while U.S. stocks also moved higher to close the week on a positive note.
• Small Caps Lead: The Russell 2000 outperformed with a 0.8% gain, while the technology-heavy Nasdaq lagged broader indices as investors rotated into other sectors.
• SpaceX Ignites IPO Market: SpaceX surged in its public debut following a record-setting $75 billion IPO that was reportedly more than four times oversubscribed, lifting the company’s valuation above $2 trillion.
• OpenAI Faces Scrutiny: State regulators are increasing oversight of OpenAI as concerns surrounding AI safety, privacy, and consumer protection continue to intensify.
• GM Exits a Market: General Motors is discontinuing its medium-duty Silverado lineup, signaling a strategic shift in the commercial truck market.
• Adobe Slides Despite Strong Results: Adobe shares fell even after reporting earnings and guidance that topped expectations, as investors focused on management changes and growth concerns.
• Media Merger Clears Hurdle: The proposed $110 billion merger between Paramount Skydance and Warner Bros. Discovery received approval from the U.S. Department of Justice, marking a significant regulatory milestone.
• Broadway Breaks Records: Broadway generated a record $1.91 billion in ticket sales during the 2025–2026 season, highlighting consumers’ continued appetite for live experiences despite economic uncertainty.
• Lennar Delivers Mixed Results: Homebuilder Lennar reported better-than-expected earnings, but weaker revenue and declining new orders weighed on investor sentiment.
• AI Stocks Trade Mixed: Semiconductor and AI-related companies saw mixed performance, with pressure on ASML, Super Micro Computer, and Marvell Technology following recent market developments.
• AMD Gains on Upgrade: Shares of AMD moved higher after Citigroup upgraded the chipmaker, citing confidence in its long-term AI and data center growth opportunities.
• Rocket Lab Reaches New Heights: Rocket Lab rallied after securing inclusion in the Nasdaq-100, a move expected to boost institutional ownership and visibility.
• Precious Metals Shine: Gold climbed 2% and silver surged 5% as investors anticipated that improving geopolitical conditions could strengthen industrial demand.
• Materials Stocks Rally: Companies including U.S. Rare Earth, Freeport-McMoRan, and MP Materials gained as rising metals prices lifted the sector.
• Zillow Faces New Competition: Zillow shares fell after Google announced that home listings would appear directly in mobile search results, raising concerns about increased competition.
• Investor Sentiment Turns Cautious: The latest AAII survey showed bearish sentiment jumping to 47.7%, while bullish sentiment fell to a three-month low, a setup that has historically served as a contrarian signal for markets.

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"The theater is so endlessly fascinating because it's so accidental. It's so much like life."
— Arthur Miller

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Notable Stocks

• IntIntel (INTC)
• Nvidia (NVDA)
• SpaceX (SPCX)
• Meta Platforms (META)
• AMD (AMD)

Weekly Notables

Rocket Lab Reaches New Heights with Nasdaq-100 Inclusion

Rocket Lab is entering a new chapter after being selected for inclusion in the Nasdaq-100 Index, a milestone that places the space company alongside some of the market’s most prominent growth and technology names. The addition is expected to boost the company’s visibility among institutional investors and trigger index fund rebalancing, potentially increasing trading activity and expanding its shareholder base.

AMD Gets a Boost as Citi Turns Bullish on AI Potential

Shares of Advanced Micro Devices (AMD) climbed Friday after Citigroup upgraded the semiconductor giant to Buy, signaling growing confidence in the company’s position within the rapidly expanding artificial intelligence market. The upgrade reflects Citi’s increasingly optimistic outlook on AMD’s growth prospects in data centers, AI accelerators, and high-performance computing. The bank believes the market may not be fully pricing in the company’s long-term opportunity as demand for AI infrastructure continues to accelerate.

Earnings Spotlight: Canopy Growth Corp. (CGC)

Canopy Growth (CGC) is scheduled to announce fiscal fourth-quarter results before the market opens on Monday, June 15, with investors looking for further evidence that the cannabis producer's turnaround efforts are gaining traction. Analysts expect the company to report a loss of C$0.09 per share, improving from a loss of C$1.43 per share in the year-ago quarter. Revenue is projected to rise to C$74.36M, up from C$65.03M a year earlier.

What's Ahead

Market sentiment this week will likely be driven by developments in U.S.-Iran negotiations and the continued performance of newly public SpaceX shares. However, the Federal Reserve’s upcoming meeting is expected to be the key event for investors. Markets will be closely watching comments from new Fed Chair Kevin Warsh for insights into his leadership approach and policy outlook. 

Economic:

• Monday (June 15): Capacity Utilization, Empire State Manufacturing, Industrial Production, NAHB Housing Market Index
• Tuesday (June 16): Building Permits, Export Prices, Housing Starts, Import Prices
• Wednesday (June 17): Business Inventories, EIA Crude Oil Inventories, Federal Open Market Committee (FOMC), MBA Mortgage Applications Index, Pending Home Sales
• Thursday (June 18): Continuing Claims, EIA Natural Gas Inventories, Initial Claims, Net Long-Term TIC Flows, Philadelphia Fed Index
• Friday (June 19): -no reports-

Earnings:

• Monday (June 15): Anavex Life Sciences Corp. (AVXL), Canopy Growth Corp. (CGC), Dave & Buster's Entertainment Inc. (PLAY), PowerFleet Inc. (AIOT), RF Industries Inc. (RFIL)
• Tuesday (June 16): John Wiley & Sons Inc. (WLY), La-Z-Boy Inc. (LZB)
• Wednesday (June 17): Carmax Inc. (KMX), Jabil Inc. (JBL), LiveOne Inc. (LVO), Safe Bulkers Inc. (SB), Smith & Wesson Brands Inc. (SWBI), Trip.com Group (TCOM)
• Thursday (June 18): Accenture PLC (ACN), America's Car-Mart Inc. (CRMT), Korn Ferry (KFY), Kroger Co. (KR)
• Friday (June 19): -no reports-