| 📊 Alain’s Holdings — June 24, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 675.79 | -0.55 | -0.08% |
| QQQ | Invesco QQQ Trust | 710.62 | -3.03 | -0.42% |
| XIU.TO | iShares S&P/TSX 60 ETF | 51.74 | -0.18 | -0.35% |
Today’s market was calmer than yesterday’s sharp selloff, but investors remained cautious as the AI trade continued to face intense scrutiny.
The Dow Jones Industrial Average gained 0.4%, while the S&P 500 slipped 0.1% and the Nasdaq Composite fell 0.4%. The divergence reflects investors rotating away from mega-cap technology stocks and into more defensive and economically sensitive sectors.
The biggest story remained the semiconductor sector.
After Tuesday’s historic plunge, investors waited nervously for Micron Technology’s earnings report, hoping it would provide reassurance that demand for AI memory chips remains strong. Micron tops Q3 earnings estimates, offers better-than-expected outlook and declares dividend. Chip stocks stayed under pressure throughout the session as traders questioned whether expectations have become too optimistic.
Meanwhile, there was good news on inflation.
Oil prices continued falling as shipping through the Strait of Hormuz normalized following the easing of tensions in the Middle East. Lower energy prices pushed Treasury yields lower, giving some support to economically sensitive sectors like industrials, consumer discretionary, and small-cap stocks.
Despite today’s mixed performance, one theme is becoming increasingly clear.
For nearly two years, investors rewarded almost any announcement of increased AI spending.
Now the market wants something different.
It wants profits.
The next several earnings seasons may determine which AI companies become long-term winners—and which simply spent enormous sums chasing the opportunity.
Markets have shifted from asking:
“Who’s spending the most on AI?”
to
“Who’s actually making money from AI?”
That is a much healthier question for long-term investors.
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