Stock Market
As of Jun 22, U.S. stock index futures performed as follows: Dow contracts inched up 0.12%, hinting at a guarded rebound; S&P 500 futures slipped 0.05% as traders weighed a flurry of corporate headlines; Nasdaq 100 futures advanced 0.15%, supported by renewed enthusiasm for chipmakers ahead of the opening bell.
U.S. Vice President Vance Cites Substantial Positive Progress in Iran Talks.
Goldman Sachs cut its estimate of the probability of a U.S. recession within 12 months to 15% from 25%.
Notable Stock Movers
Shares of memory chipmakers moved higher in premarket trading. Micron Technology up 4% on optimistic memory-chip earnings expectations. Meanwhile, Western Digital rose over 5%, while SanDisk and Seagate Technology rose over 3%.
United Microelectronics up 13.37% at $27.30 after unveiling a co-development pact with Intel.
Intel up 2.45% at $137.27 on a CEO pledge to pursue tenfold shareholder returns.
SpaceX fell over 4% after the company launched an offering of senior unsecured notes in its inaugural bond issuance. Fitch says the rating assumes Starship will be operational in H2 2026 and begin deploying satellites in 2027 and beyond.
AI bellwether NVIDIA edged lower by 0.28% to $210.10 amid modest profit-taking.
Arcosa Inc Rises Over 7% as CRH Agrees to Acquire It for $8.5 Billion.
Across the tape, semiconductor names dominate the gainers list, reflecting investor enthusiasm for partnerships that accelerate next-generation node development and memory-price momentum. Meanwhile, selective profit-taking in mega-cap technology and space-innovation counters is creating a two-speed market narrative, with traders positioning for a week heavy on earnings releases and corporate deal flow.
Other Markets
• 10-year U.S. Treasury yield rose 0.80%, to 4.49%.
• U.S. Dollar Index rose 0.17% to 100.93.
• WTI crude oil futures fell 1.08% to 75.03 USD/barrel; COMEX gold futures fell 0.48% to 4225.40 USD/ounce.
Key News
1. Robinhood launched a USD 2 billion private convertible‐note offering, giving initial buyers a USD 200 million upsize option and earmarking USD 300 million for share repurchases while funding capped-call transactions and general corporate needs, sending the stock modestly lower in pre-market trade.
2. CRH agreed to acquire Arcosa for about USD 8.5 billion in cash at USD 150 per share, a 25% premium to the quarry operator’s 60-day average, aiming to expand its U.S. aggregates footprint ahead of a planned first-quarter 2027 close funded by existing liquidity and committed debt.
3. Intel and United Microelectronics announced a partnership to co-develop 3 nm and 12 nm process technologies, with production lines to be installed at Intel’s Arizona fabs; the collaboration gives UMC advanced-node access without heavy capital outlays and buoyed both companies’ shares in pre-market trading.
4. Getty Images struck a display agreement with OpenAI, enabling licensed visual content to appear directly within ChatGPT and positioning the imagery provider for new AI-driven revenue streams; the stock spiked nearly 300% at one point pre-market.
5. AbbVie is in advanced talks to buy Apogee Therapeutics for roughly USD 10.9 billion, a deal that would value the eczema-drug developer at a 60% premium and strengthen AbbVie’s immunology pipeline, according to Financial Times sources.
6. United Microelectronics secured entry into Qualcomm’s supply chain with its embedded Deep Trench Capacitor technology, complementing the Intel tie-up and underpinning management guidance for selective price increases later this year.
7. U.S. Vice President JD Vance reported progress toward renewed nuclear inspections in Iran, outlining mechanisms for asset unfreezing and safeguarding the Strait of Hormuz—developments that coincided with softer crude prices in early trading.
8. An interim U.S.–Iran peace framework drove jet-fuel prices down nearly 40% from April peaks, a move analysts estimate could shave more than USD 40 billion off U.S. airlines’ annual fuel bills, giving carriers room to rebuild margins even as ticket prices remain elevated.
9. U.K. Prime Minister Keir Starmer announced his intention to resign before parliament reconvenes, triggering a leadership contest that investors warn could reopen questions about fiscal discipline and exert renewed pressure on gilt yields and sterling.
10. U.S. exchanges will close on July 3 in observance of Independence Day, and market participants are advised to adjust trading plans as overnight sessions from the evening of July 2 will also be suspended.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
Comments