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After the Philadelphia Semiconductor Index shed roughly 10% the prior week on Broadcom's underwhelming AI guidance, chip stocks staged a broad-based rally on June 11 — Lam Research surged ~12.7%, Micron ~11%, Intel 10%-plus, and AMD ~8%.
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SpaceX priced its IPO at $135 per share, implying a ~$1.77 trillion valuation, and begins trading on Nasdaq under ticker SPCX on June 12. The $75 billion raise is more than triple the previous U.S. record set by Alibaba.
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U.S. wholesale prices blew past expectations in May, with PPI rising 1.1% month-over-month and 6.5% year-over-year — the hottest reading since November 2022. A 23%-plus spike in gasoline prices did most of the damage.
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Trump called off a planned strike on Iran and told reporters a peace deal is "essentially done." WTI tumbled more than 2% to $87.71, and Brent fell roughly 3% to $90.38 — erasing weeks of geopolitical risk premium in a single session.
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U.S. stocks rallied sharply Thursday, with the Dow jumping nearly 930 points back above 50,000. Two catalysts drove the move: Trump called off Iran strikes, sending oil lower, and investors piled into tech ahead of SpaceX's landmark IPO.
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Casey's General Stores (CASY) crushed Q4 expectations on every line — EPS of $4.37 vs. the $3.31 consensus, revenue of ~$4.6B vs. ~$4.2B expected — sending shares up nearly 20% on a day the S&P 500 barely moved.
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Cracker Barrel (CBRL) posted an unexpected profit and beat on revenue, sending shares up as much as 30% intraday on Wednesday — a stark contrast to the tech selloff happening the same day. The company also raised its full-year EBITDA guidance by as much as 47%.
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Robinhood (HOOD) climbed ~3.1% on Wednesday even as the broader market sagged, powered by Goldman Sachs hiking its price target and news that the firm's brokerage arm has been approved to act as an IPO underwriter.
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Super Micro Computer (SMCI) announced a $7 billion equity raise to fund components for its $39 billion AI server order backlog. Shares tumbled ~28% as investors zeroed in on dilution risk, not the demand story.
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Amazon (AMZN) has thrown its less-than-truckload freight network open to any business shipping anywhere in the U.S., sending shares of XPO, Old Dominion, FedEx Freight, and peers sharply lower on Wednesday. Some analysts say the selloff is overdone — for now.
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Oracle posted record Q4 FY2026 results — $19.2B in revenue, 93% OCI growth, and a $638B backlog — but full-year capex of $55.7B blew past guidance, sending shares down more than 7% after hours. Investors are questioning when the AI infrastructure bill comes due.
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Semiconductor stocks slid again Wednesday, marking their fourth down day in five sessions. The SOX dropped ~3.6%, tech is now ~11% off its recent highs, and hotter-than-expected CPI data is keeping rate fears alive.