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After the U.S. and Iran announced a deal to reopen the Strait of Hormuz, crude oil plunged roughly 4%. Markets aren't just reading this as an energy story — they're pricing it as an inflation reprieve.
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The U.S. and Iran announced a deal to end hostilities and reopen the Strait of Hormuz over the weekend, sending S&P 500 futures up ~1% and Brent crude down ~4% on Monday. Here's what the agreement says and what to watch next.
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With SpaceX pricing its IPO at a $1.77T valuation that tops Tesla's market cap, analysts estimate $5B–$10B in retail money is rotating out of TSLA into the new offering. JPMorgan just flipped from underweight to neutral with a $475 price target.
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Adobe posted record Q2 revenue of $6.62B, topped EPS estimates, and lifted its full-year outlook — but the after-hours selloff had nothing to do with the numbers. CFO Dan Durn is heading to Marvell, and that spooked the market.
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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.