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Here’s what’s happening in the stock market today:
The stock market is recovering today with modest gains as AI and chip stocks rebound from Friday's sharp selloff, though Middle East tensions keep investors cautious. 📈⚠️ Futures for the S&P 500 and Nasdaq are up roughly 0.3-0.8%, signaling a rebound after the worst daily decline for the S&P since October, while Dow futures edge up slightly. Chipmakers like Nvidia, Broadcom, and Micron Technology rose 1.7-3.7% premarket, recovering from Friday's rout that wiped out $1 trillion in chipmaker value. Gold prices remain elevated near record highs, but crude oil surged over 3% to around $94/barrel as Israel-Iran hostilities escalate, raising inflation worries. 🛢️💰
Major Indices Performance 📊
S&P 500 futures up about 0.3-0.6%, set for a 0.7% intraday gain after Friday's drop.
Dow Jones futures climbed roughly 207 points (0.4%), recovering from last week's losses.
Nasdaq Composite futures gained 1.1-1.53%, led by tech and AI stock rebounds.
Market Movers 🚀
Micron Technology jumped 8.3% after tumbling 13.3% on Friday, the worst S&P 500 performer then.
Nvidia, Broadcom rose 1.7-3.7% premarket, rebounding from the chip selloff.
Eli Lilly gained 3.1% after obesity drug trial results showed reduced sleep apseverity.
Marvell Technology surged 7.2% premarket ahead of its June 22 S&P 500 addition.
Campbell's Company edged higher after beating Q3 earnings estimates.
Key Events Driving the Market 🗞️
AI-linked stocks rebounded after Friday's heavy pressure amid concerns valuations rose too rapidly.
Chip stocks steadied after plunging to over-two-week lows, though renewed Middle East strikes keep investors cautious.
Renewed Israeli strikes on Iran and Lebanon escalated tensions, pushing oil over $94/barrel and raising fuel cost concerns for airlines.
Stronger-than-expected May jobs data (172,000 new jobs vs. 85,000 expected) contributed to Friday's rout, with rate-futures implying a 42% chance of a December Fed hike.
Wednesday's May consumer prices report will show how energy price rises impact inflation.
Investor Sentiment 👀
Overall, mood is cautiously optimistic as markets recover from Friday's worst drop since October, blending AI optimism with concern over Iran-Israel war impacts on oil and inflation. Trading volumes remain subdued as traders weigh geopolitical risks against corporate earnings resilience. 🐂⚖️
7 Stocks That Will Be Magnificent in 2026
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TRADE OF THE DAY:
SNOW
Name: Snowflake Inc.
Symbol: SNOW
Current Price: Approximately $243.74
Trade
Sell to Open: 1 SNOW Jul 2, 2026 200/195 Put Vertical
Total Credit Received: $47.00
Credit per Contract: $47.00 (for one contract covering 100 shares)
Direction: Bullish (expects SNOW to stay above the break-even level)
Probability of Profit (PoP): 88.16% (as provided)
Potential ROI:
Max Risk (Loss): $453.00
ROI: ($47.00 ÷ $453.00) × 100 ≈ 10.4%
Trade Explained in Simple English:
You’re entering a bullish put credit spread by selling the 200 strike put and buying the 195 strike protective put, both expiring July 2, 2026. You receive $47.00 upfront. If SNOW stays above the break-even price of $199.53 through expiration, both options expire worthless and you keep the entire credit. Your profit is capped at $47.00, while your maximum loss is limited to $453.00 if SNOW finishes below $195.00 at expiration.
Wall Street Highlights:
News Beyond the Numbers
Intel jumped after reports that Alphabet Inc. may use Intel’s manufacturing services for millions of in-house AI chips, boosting confidence in its foundry business. Read More
Fears of an AI-stock bubble intensified ahead of the highly anticipated SpaceX IPO, prompting Wall Street firms to reassess growth forecasts and valuations.
Read MoreSeveral companies are trimming or delaying IPO plans in 2026 as volatile conditions and tougher valuation scrutiny make investors more selective.
Read MoreMajor technology firms are offering compensation packages of up to $400,000 to AI communications specialists as competition for AI-related talent expands beyond engineering roles. Read More
A sharp semiconductor selloff has put pressure on chipmakers including Broadcom Inc. and others, raising questions about whether AI-driven enthusiasm has outpaced fundamentals. Read More
Disclaimer: The content provided by OptionPicks is for informational and educational purposes only and should not be construed as investment, financial, legal, or tax advice. We are not registered as a broker-dealer, investment adviser, or financial advisor with the SEC, FINRA, or any other regulatory authority. Options trading involves substantial risk and is not suitable for every investor. Past performance is not indicative of future results, and no representation is being made that any subscriber will or is likely to achieve profits or incur losses similar to those mentioned. You should consult with a licensed financial professional before making any investment decisions.
