News
Micron (MU) reports fiscal Q3 2026 earnings after the close on June 24, with Wall Street expecting EPS of ~$19.72 and revenue of ~$34.52B. All eyes are on HBM demand and whether gross margin can hold above 80%.
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FedEx reports Q4 FY2026 results after the bell on June 23, its first earnings since spinning off FedEx Freight. Wall Street is watching for the new reporting structure, FY2027 guidance, and Network 2.0 progress.
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Software outperformed last week as IGV was led by Microsoft, Oracle, Palantir, Salesforce, and Palo Alto Networks. Markets tied the move to AI application-layer narratives and shifting rate expectations.
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US stocks bounced back June 18 with semiconductors in the lead, recovering from a Fed-hawkish selloff that had dragged the Dow down ~500 points days earlier. HBM supply and AI capex remain the dominant chip-sector narrative heading into Micron's earnings.
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WTI crude slid back to around $77 a barrel last week, posting an 8% weekly loss as Middle East tensions eased. The divergent playbook: lower oil typically pressures energy producers while offering relief on airline fuel costs.
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The Fed just turned hawkish — now all eyes are on Friday's May PCE print. With half the dot plot penciling in a 2026 rate hike, this inflation gauge could reset the market's entire rate-path outlook.
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The US and Iran signed a 60-day ceasefire on June 17 and Washington lifted its Strait of Hormuz blockade a day later, easing Middle East tensions and dragging crude oil down roughly 8% on the week. A Trump threat on June 21 sparked a brief intraday spike but didn't change the trend.
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The Fed held rates steady at Kevin Warsh's first meeting as chair — but the dot plot told a different story, with half of all officials penciling in at least one hike this year. Stocks sold off hard before chips led a partial recovery.
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U.S. markets reopen Monday after the Juneteenth long weekend, with traders digesting fresh Iran rhetoric from Trump and last week's chip-led rally. The week's marquee events: FedEx earnings Tuesday, Micron Wednesday, and May PCE on Friday.
Deep Dive
TSMC's Q1 FY2026 revenue surged 40.6% YoY with a 66.2% gross margin and net income up 58.3% — the eighth consecutive quarter of double-digit profit growth. The market isn't valuing a foundry; it's pricing the essential manufacturing backbone of the entire AI era.
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A week after its record-breaking IPO, SpaceX (SPCX) tumbled as much as 10% intraday on June 18 before closing down more than 3%, bringing the two-day loss to roughly 8.3%. Analysts point to stretched valuations, profit-taking, a razor-thin float, lock-up concerns, and a cautious macro…
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Accenture cratered 18% on a revenue miss and guidance cut; Kroger slid 8% premarket despite beating the top line; Smith & Wesson surged nearly 20% on a blowout Q4. One earnings window, three very different market verdicts.