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US stock futures were mixed as concerns about a Middle East ceasefire continued to weigh, and investors braced for fresh inflation data and a blockbuster SpaceX IPO this week.
Blue-chip stocks looked set to fall on Monday as the cease-fire in the Middle East appeared to fray, with the market still reeling from Friday’s brutal artificial intelligence selloff. Futures tracking the Dow Jones Industrial Average slipped 169 points, or 0.3%. S&P 500 futures climbed 0.3%, while contracts tied to the tech-heavy Nasdaq 100 added 0.7%.
There's a silver lining in the Fed's initial June inflation forecast -- but we're nowhere close to being out of the woods.
<body><p>STORY: Asian stocks plunged on Monday morning as investors hit the brakes on the red-hot AI rally.</p><p>South Korea’s tech-heavy KOSPI index took the heaviest beating.</p><p>It was down around 6% by late-morning after volatile trade had earlier triggered a 20-minute halt.</p><p>Chip giant Samsung matched the overall decline. </p><p>Meanwhile, Japan’s Nikkei index was down around 4% by the same time.</p><p>That follows a similar drop for the Nasdaq on Wall Street at the end of last week.</p><p>One analyst told Reuters that doubts have crept in over tech earnings, partly following weaker-than-expected numbers from US chipmaker Broadcom.</p><p>Last week’s hotter-than-expected U.S. jobs data have also all but wiped out hopes for further rate cuts by the Federal Reserve this year.</p><p>Then there’s Iran.</p><p>Tensions in the Middle East have flared again, following Israel’s strikes on Lebanon, and Iran’s retaliatory strikes on Israel.</p><p>International benchmark Brent Crude was up around 3% on Monday morning, once again heading towards the $100 per barrel mark.</p><p>That’s despite weekend action by the OPEC+ oil exporters’ group to reassure markets with a further boost to output.</p><p>Later this week, all eyes turn to the potentially record breaking SpaceX share listing.</p><p>Elon Musk’s rocket firm is set to start trading on Friday, and is expected to debut with a valuation of around $1.75 trillion.</p><p>With so much money going to that, and more possible mega-listings such as OpenAI, some brokers have expressed concern about the impact on other assets. </p></body>
SINGAPORE, June 8 (Reuters) - Asian markets were poised to fall on Monday after Wall Street's nine-week winning streak ended in heavy tech selling, while Israeli strikes on Beirut sent oil and the
Tensions in the Gulf had already been escalating as the U.S. and Iran increasingly exchange fire, with both sides trying to establish their own shipping lanes in the Strait of Hormuz.
Investors are likely to confront challenges from the latest inflation reading and the SpaceX IPO in the days ahead.
The Bureau of Labor Statistics will release the consumer price index on Wednesday and the producer price index on Thursday. Both inflation measures are running at multi-year highs, and the core CPI hasn’t been at or below the Federal Reserve’s two percent target in more than five years. This week also brings perhaps the most anticipated initial public offering in history: SpaceX.
“With a great Jobs Report, like just announced, stocks should go up, not down," Trump posted. "That's the way it was for 200 years. Growth does not mean inflation!”
The highly anticipated SpaceX IPO, Oracle earnings, and inflation data will keep investors busy this week.
Quantinuum, the Honeywell-backed trapped-ion quantum computing company, began trading on the NASDAQ today after pricing its IPO at $60 per share and raising $1.68 billion. On CNBC’s Squawk Box this morning, CEO Rajeeb Hazra delivered the line that will define the debut: “It is not 10 to 15 years out. It’s very much now. And ... The Next Quantum Computing IPO CEO Just Told CNBC ‘It Is Not 10 to 15 Years Out. It’s Very Much Now’
Jerome Powell's successor is about to learn the hard truth that it's impossible to appease President Trump and tackle above-average inflation.
Why did a strong jobs report trigger big sell-offs for Joby Aviation stock?
Friday’s labor-market rebound sets in motion a collision between the new Fed chair, the bond market and the White House.
Fears of rising interest rates collided with worries about artificial-intelligence spending on Wall Street Friday, bringing an abrupt and painful end to weeks of gains and sending the Nasdaq composite to its worst day in more than a year.
<body><p>STORY: Wall Street’s nine-week winning streak came to an abrupt halt on Friday, with the Dow dropping about one-and-a-third percent, the S&P 500 sliding more than 2.6% and the tech-heavy Nasdaq tumbling nearly 4.2%, its largest one-day percentage loss in more than a year.</p><p>Selling was concentrated among chip stocks and other technology favorites that have surged in recent weeks as the Nasdaq and S&P 500 rose repeatedly to fresh highs.</p><p>The Philadelphia Semiconductor Index erased more than $1 trillion in stock market value on Friday, suffering its largest one-day percentage plunge since March of 2020.</p><p>Eric Lynch, managing director and co-portfolio manager of Suncoast Equity Management, said tech stocks tanked due to rate-hike and AI spending concerns.</p><p>"The first factor is the blowout jobs report this morning. That has taken the chances of another Fed cut off the table for 2026. That hits long-duration, most exciting speculative stocks the most. [FLASH] But also there's been grumblings about AI, just some concerns about whether or not the token usage is really translating to great returns. And you've seen some consternation kind of bubbling up."</p><p>Among individual movers, AI chipmaker Nvidia, the largest company by market value, lost more than 6%, while Intel, Micron, AMD and Broadcom all slid between about 8% and 13.5%.</p><p>Shares of Lululemon Athletica slumped about 8.5% after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates.</p><p>And a more than 4% drop in bitcoin hit cryptocurrency firms, with shares of Coinbase and Strategy each tumbling about 7%.</p></body>
Shareholder approval moved the deal forward, but antitrust scrutiny now puts the focus on whether regulators seek divestitures or conditions that could affect the timing and economics of the transaction.
Broadcom’s AI bookings remain the key proof point, with investors watching whether custom chip demand can convert quickly enough to support its fiscal 2027 AI revenue target.
Macroeconomic concerns just spurred a massive sell-off for Navitas stock.
US stocks (^DJI, ^IXIC, ^GSPC) sink in Friday trading, the Nasdaq Composite leading losses and closing over 1,100 points lower (4.18%). The market is reacting to May's overwhelmingly positive labor data — 172,000 jobs added the US economy vs. estimates of 88,000 — raising investor concerns that the Federal Reserve may be inclined to hike interest rates. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the day's biggest market moves.
US equity indexes plunged as a strong jobs report slashed the odds for interest rate cuts this year,
The Nasdaq dropped nearly 3% after a stronger-than-expected hiring report. Strong employment data has traders bracing for a Fed rate hike.
A stronger-than-expected jobs report sent Wall Street tumbling as investors increasingly bet on rate increases from the Federal Reserve.
Technology stocks tumbled sharply Friday as the Nasdaq headed for its worst week in a year. Nasdaq Inc. shed nearly 2% in afternoon trades, as Nvidia, Micron and Sandisk fell. Tech behemoths like Amazon and Google edged lower.
The selling in computer-chip and hardware manufacturers is getting ugly this afternoon after Broadcom's forecast disappointed late Wednesday. Higher bond yields, which decrease the value Wall Street assigns to companies projecting high profits far into the future, aren't helping either.
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