06/23/2026
๐ Market Update | June 22, 2026
Big Tech stumbled. SpaceX hit a three-day losing streak. And the Fed's favorite inflation gauge drops Thursday.
๐ Index Scorecard
$DJI โฒ+0.1% โ +71 pts (Caterpillar +3% led the way)
$SPX โผ-0.4%
$COMP โผ-1.3%
๐ป Big Tech Dragged Markets Down
$GOOGL โผ-5% โ AI talent exodus fears
$AMZN โผ-4%
$META โผ-2%
$MSFT โผ-2%
๐ SpaceX โผ-14% โ third straight day of losses
๐พ Chips Were the Bright Spot
$MU (Micron) โฒ+5% โ reports earnings Wednesday after close
$AMD โฒ+1% | $INTC โฒ+5%
๐ข๏ธ Oil Slides on Iran Progress
Qatar and Pakistan mediators confirmed the U.S. and Iran have agreed on a roadmap for a final deal within 60 days. The U.S. Treasury then authorized Iranian oil sales for 60 days โ sending oil to session lows.
$WTI โผ-2.32% โ $74.82/bbl
Brent โผ-3.31% โ $77.90/bbl
โ ๏ธ The Big Test This Week: PCE Thursday
Core PCE โ the Fed's preferred inflation gauge โ is expected to come in higher than April. Markets are bracing for it. After last week's hawkish Fed signals, rate hike expectations have moved as early as October.
2-yr yield: 4.226% โ highest since February 21, 2025.
๐ฌ Quote of the Day
"If you look at which markets have the greatest strength, greater transparency, and earnings power โ it's still the U.S. The Middle East conflict isn't over, oil transport hasn't fully normalized, and the U.S. still has its own energy supply."
โ Tom Hainlin, National Investment Strategist, U.S. Bank Asset Management
ใSource: CNBCใ