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Here’s what’s happening in the stock market today:
The stock market is climbing today as chip stocks extend gains for a second day and Middle East tensions ease, helping stocks recover from Friday's sharp selloff. 📈🕊️ Futures for the Nasdaq lead with roughly 0.76% gains, while S&P 500 and Dow futures rise about 0.4% and 0.18%, respectively. Semiconductor stocks like Marvell Technology, Broadcom, and Micron Technology surged 4-11% premarket after Friday's $1.3 trillion chip slump. Oil prices retreated below $91/barrel as Israel and Iran reaffirmed a fragile ceasefire, easing geopolitical risks. Gold remains near record highs around $3,146. 💰🛢️
Major Indices Performance 📊
S&P 500 futures up about 0.41%, with E-minis gaining 34 points (0.46%).
Dow Jones futures climbed roughly 0.18-0.27%, rising 93 points.
Nasdaq futures led gains at 0.79%, with E-minis up 224 points (0.76%) on tech rebound.
Market Movers 🚀
Marvell Technology surged 11% premarket ahead of its June 22 S&P 500 addition.
Broadcom and Micron Technology rose 4-7%, rebounding from Friday's steep declines.
Deckers Outdoor jumped 16.97% in premarket trading.
Edwards Lifescience gained 7.49%, while Aon PLC climbed 4.27%.
Intel dropped 8.53% as the chip weakness persisted for some makers.
Charter Communications fell 13.16% among premarket losers.
Key Events Driving the Market 🗞️
Chip stocks extended gains after Friday's $1.3 trillion selloff, which hit AI heavyweights hardest.
Israel and Iran signaled they would refrain from further attacks unless provoked, easing Middle East hostilities.
Oil eased toward $90-91/barrel as the fragile ceasefire held, though the Strait of Hormuz remains blocked.
Last week's tech selloff stemmed from Broadcom's disappointing forecast raising valuation concerns in the AI sector.
May CPI inflation data releasing Wednesday (headline expected 4.2% YoY, core CPI 0.3% monthly) will shape Fed policy outlook.
Investor Sentiment 👀
Overall, mood is cautiously optimistic as the market rebounds from Friday's worst drop since October, blending AI recovery hopes with reduced geopolitical risks. Trading volumes remain moderate as investors weigh Wednesday's inflation data and Fed rate cut vs. hike expectations. 🐂⚖️
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TRADE OF THE DAY:
KKR
Name: KKR & Co. Inc.
Symbol: KKR
Current Price: $94.55
Trade
Sell to Open: 1 KKR Jun 26, 2026 103/108 Call Vertical (Bear Call Spread)
Total Credit Received: $48.00
Credit per Contract: $48.00 (for one contract covering 100 shares)
Direction: Bearish (expects KKR to stay below breakeven at expiration)
Probability of Profit (PoP): 85.0%
Potential ROI:
Max Risk (Loss): $452.00
ROI: ($48 ÷ $452) × 100 ≈ 10.6%
Trade Explained in Simple English:
You are selling a call spread by selling the 103 strike call and buying the 108 strike call, both expiring on Jun 26, 2026. You receive a $48 upfront credit, and your maximum loss is capped at $452 if the stock rises above $108 at expiration. The trade breaks even at about $103.48, meaning you profit as long as KKR stays below that level. With an 85% probability of profit, this is a high-probability bearish income trade with limited upside and defined risk.
Wall Street Highlights:
News Beyond the Numbers
OpenAI has confidentially filed for an IPO with the U.S. SEC, signaling a potential blockbuster public debut that could reshape capital markets and intensify the race among AI giants preparing to list. Read more
GlaxoSmithKline agreed to acquire Nuvalent for about $10.6 billion after a surge in interest in lung cancer therapies, marking a major biotech consolidation move in the healthcare dealmaking space. Read more
AlphaSense, an AI-powered financial research platform used by major institutions, raised funding that boosted its valuation to $7.5 billion as demand for AI-driven analytics tools accelerates across Wall Street. Read more
Semiconductor stocks extended a rebound as optimism around AI infrastructure and chip demand drove renewed buying interest across major U.S. and Asian tech supply chains. Read more
The UK’s competition regulator opened a formal investigation into Paramount Skydance’s proposed $110 billion merger with Warner Bros Discovery, adding regulatory uncertainty to one of the largest media deals in years. Read more
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