News

Chip Stocks Lead Monday Rebound After Market's Worst Day of the Year — CPI Due Wednesday

Semiconductors bounced back Monday as Marvell surged ~9%, Micron ~7%, and Nvidia gained ~2.3% premarket, partially recovering Friday's brutal ~10% chip-sector selloff. All eyes now turn to May CPI, out Wednesday at 8:30 a.m. ET.

OurAlpha

09 Jun 2026 — 2 min read

After a record high, a brutal selloff, and now a bounce, the market's next test is Wednesday's CPI print.

TL;DR

After Friday's worst session of the year, US stocks rebounded Monday (June 8), with semiconductors leading the charge. The Nasdaq and Russell 2000 clawed back part of Friday's losses. Next up: May CPI, out June 10.

Leaders: Marvell (MRVL) +~9%, Micron (MU) +~7%, Nvidia (NVDA) +~2.3% premarket^[Schwab]
Context: Chip stocks fell ~10% Friday — Wall Street's worst single session of 2026
Also moving: Corning (GLW) +~9% early on a multi-billion-dollar fiber deal with Amazon
Key data: May CPI prints June 10 at 8:30 a.m. ET; April CPI came in at +3.8% YoY

US equities bounced back Monday (June 8) after Friday's worst session of the year, with semiconductors leading the recovery. The Nasdaq Composite and Russell 2000 both recouped a portion of Friday's losses. The market's next major catalyst: May CPI, due Wednesday, June 10.

Chip Stocks Lead the Rebound

Per Schwab's premarket and open recap, Monday's rally was driven by semis^[^Schwab^]:

Marvell Technology (MRVL) gained ~9%, boosted in part by news of its addition to the S&P 500
Micron (MU) rose ~7%
Nvidia (NVDA) climbed ~2.3% premarket, aided by reports of a memory partnership with SK Hynix

Corning (GLW) also jumped ~9% in early trading after announcing a multi-billion-dollar fiber optics supply agreement with Amazon (AMZN).

What the Bounce Is Recovering From

Friday's selloff was the backdrop. Semiconductor stocks shed roughly 10% — making it Wall Street's worst single trading day of the year. The timing was striking: the S&P 500 had just closed above 7,600 for the first time on June 2, with chip stocks a primary driver of that record. In the span of one week, the market went record high → sharp selloff → bounce. Monday's move was characterized by some outlets as a classic "buy the dip."

Next Catalyst: May CPI on June 10

Per the BLS release calendar, May CPI drops June 10 at 8:30 a.m. ET^[^BLS^]. For reference, April's print^[^BLS^] showed:

Headline CPI: +3.8% YoY, +0.6% MoM
Core CPI (ex-food and energy): +2.8% YoY, +0.4% MoM
Energy: +3.8% MoM, with gasoline up +5.4%

Inflation data feeds directly into Fed rate-path expectations, making Wednesday's release a key variable for tech and the broader market this week. Oracle (ORCL) also reports after the close that same day.

Week Ahead

The calendar fills out quickly: June 10 brings May CPI and Oracle earnings; June 11 brings Adobe (ADBE) results. The S&P 500's quarterly rebalancing takes effect before the open on June 22.