| 📊 Alain’s Holdings — June 8, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 679.78 | +1.78 | +0.26% |
| QQQ | Invesco QQQ Trust | 716.07 | +11.01 | +1.56% |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.98 | +0.13 | +0.26% |
Relief Rally: Chips Bounce,
Iran Steps Back, Markets Breathe
After last week’s brutal selloff, Wall Street got the Monday it needed. Iran announced it was halting strikes on Israel, President Trump signaled optimism on a deal, and chip stocks — led by Nvidia, Micron, and Marvell — staged a sharp recovery. The Nasdaq led all indexes higher. The S&P 500 climbed back above 7,400. The SpaceX IPO is now days away.
Index Close
S&P 500
~7,452
Nasdaq Composite
~26,080
Dow Jones
~51,163
Russell 2000
~2,840
Market Snapshot
Notable Movers
📈 Winners
📉 Under Pressure
What Happened Today
The selloff didn’t stick. Monday opened with a clear tailwind: Iran announced it had ended its military operation in Israel following weekend strikes, and President Trump posted on Truth Social that progress toward a deal was moving “rapidly.” That was all markets needed. Futures surged before the open, chip stocks staged a broad recovery, and the session confirmed what many suspected — last week’s 4.18% Nasdaq drop was at least partly driven by positioning and sentiment rather than a fundamental shift in the AI growth story.
Semiconductors led the bounce. Micron and Marvell each jumped more than 4%, with Marvell gaining additional momentum from the announcement that it will join the S&P 500 later this month — creating a mechanical forced-buying catalyst as index funds must accumulate shares before the rebalance date. Nvidia rose 2%, Oracle climbed 2% ahead of its closely watched earnings on Wednesday evening, and Cerebras Systems — a Nvidia rival backed by Abu Dhabi’s G42 — surged 15% following multiple analyst initiations at buy ratings. The message from the chip sector was clear: the AI infrastructure buildout is intact, and last week was a speed bump, not a reversal.
Corning was Monday’s standout story. Amazon announced a multibillion-dollar, multiyear agreement with the specialty glass and fiber company to supply optical fiber, cable, and connectivity solutions for its AI data centers. Shares jumped 7.4%. This follows a string of major AI partnerships for Corning — with Meta and Nvidia earlier in the year — and underscores a key investment theme: the AI build-out is not just about chips. Physical infrastructure — fiber, power, cooling, connectors — is a massive and often overlooked beneficiary. Corning is up over 100% year-to-date.
Apple stock falls after a long-awaited AI Siri update -1.95% ahead of its Worldwide Developers Conference (WWDC), where major AI and Siri announcements are expected. Wedbush analyst Dan Ives maintained his $400 price target and Outperform rating, projecting that AI monetization through Siri could add billions in annual revenue. The conference runs through Thursday and will be closely watched for any indication of how deeply Apple integrates third-party AI models — including Claude, GPT-4o, and Gemini — into iOS 21.
Treasury yields edged slightly higher despite the risk-on tone — the 10-year moved up 2.8 basis points to 4.564%. This is a caution signal: even on a good geopolitical day, bonds are not rallying. Markets are still pricing in a higher-for-longer rate environment, and until the May CPI report (due Wednesday) provides clarity on inflation, the bond market will remain a headwind for rate-sensitive growth stocks.
🕊️ Geopolitics — Iran Signals De-escalation
Iran’s statement that it has “ended its military operation in Israel” following weekend strikes was the most significant market-moving headline of the day. President Trump simultaneously expressed optimism about deal progress. Oil — which had spiked to $98 last Wednesday — held relatively steady at around $91/barrel on WTI, suggesting markets are cautiously accepting the de-escalation signal without fully pricing in a lasting ceasefire. Cross-border exchanges between Israel and Iran-backed Hezbollah in southern Lebanon continued, keeping some geopolitical risk premium in energy prices. The situation remains fragile — but for one day at least, the war premium retreated.
Healthcare Spotlight — Eli Lilly at ADA 2026
Lilly’s Retatrutide Delivers Surgical-Level Weight Loss — Cementing Dominance
Eli Lilly presented Phase 3 data for retatrutide — its next-generation “triple G” obesity drug — at the ADA’s 86th Scientific Sessions in New Orleans over the weekend. The results were striking: at the highest dose, retatrutide produced 28.3% average body weight loss at 80 weeks, with nearly half of patients losing more than 30% — comparable to bariatric surgery. The drug also showed benefits for knee osteoarthritis pain and sleep apnea. A lower 4mg dose achieved 19% weight loss with an excellent tolerability profile. Lilly also unveiled positive data for Foundayo, an oral obesity drug showing significant weight loss in menopausal women. Shares jumped 4–5% as Wall Street repriced Lilly’s competitive position in the $200 billion-plus obesity market. Novo Nordisk fell roughly 3% on the same data — a reminder that every Lilly win is perceived as a Novo loss. RBC Capital Markets called the results a reinforcement of Lilly’s “dominance.”
SpaceX (SPCX) on Nasdaq — Potentially the Largest IPO in History
SpaceX is expected to finalize its IPO pricing on Wednesday evening and begin trading on the Nasdaq under the ticker SPCX on Thursday, June 12. The offering is targeting a valuation of $1.75–$1.8 trillion and is reportedly oversubscribed — meaning institutional demand exceeds available shares. CNBC’s Jim Cramer and a growing number of analysts have flagged concerns about the valuation math: at $1.8T, SpaceX would rank among the ten most valuable companies in the world on day one, ahead of Apple’s recent lows and rivaling Nvidia. BCA Research has noted historically that large IPO waves tend to dampen forward market returns as capital is redirected from secondary markets. Retail investors can indicate interest via Robinhood and SoFi ahead of pricing.
₿ Bitcoin — Partial Recovery to ~$63,000+
Bitcoin recovered modestly on Monday, climbing back above $63,000 from Friday’s close near $61,474 as the risk-on tone and Iran de-escalation lifted sentiment across speculative assets. The bounce is welcome but does not change the underlying picture: Bitcoin remains a speculative asset with no intrinsic value — no earnings, no cash flows, no physical backing. Last week’s 13% decline — driven by rising yields and geopolitical risk — was entirely consistent with how sentiment-only assets behave in adverse macro conditions. A one-day relief rally on a geopolitical headline is not a thesis. Polymarket’s crowd currently assigns an 87% probability that Bitcoin hits at least $65,000 at some point in 2026, suggesting the market still sees upside — but short-term volatility around rate and geopolitical data will remain the dominant driver.
✈️ IATA Warning — Airlines Face Structural Headwinds
The International Air Transport Association (IATA) this week slashed its 2026 airline industry profit forecast by half, citing fuel costs up 78% year-over-year due to the Iran conflict’s sustained impact on oil markets. LATAM Brasil announced it is cutting July capacity as demand softens in Latin America. Analysts note that even if oil eases from $98 back toward $90, the damage to 2026 hedging books has already been done. Airlines stocks broadly underperformed Monday even as the rest of the market rallied — a signal that the sector’s challenges are not merely geopolitical but structural. Investors seeking energy-price-insulated consumer exposure should treat the airline sector with caution for the remainder of 2026.
What to Watch This Week
- May CPI — Wednesday, 8:30 AM ET: The most important data point of the week. After the NFP shock, markets need to know whether inflation is re-accelerating. Consensus expects headline CPI around +0.3% MoM. A hotter print would reignite rate-hike fears and erase Monday’s gains instantly.
- Oracle Earnings — Wednesday After Close: The biggest AI infrastructure earnings test of the week. Oracle’s cloud backlog and guidance will be scrutinized for clues about enterprise AI spending — both on its own merits and as a signal for the broader AI capex theme ahead of Meta and Microsoft’s next updates.
- SpaceX IPO (SPCX) — Prices Wed, Lists Thu: At $1.75–$1.8T valuation and reportedly oversubscribed, this will be the defining market event of the week. Watch the first-day trading reaction closely — it will be a live referendum on institutional risk appetite after last week’s selloff.
- Apple WWDC (Through Thursday): AI and Siri monetization announcements could be a significant catalyst for AAPL. If Apple reveals deep integration with AI models or new subscription AI tiers, expect a re-rating of the stock toward Wedbush’s $400 target.
- Iran ceasefire durability: Monday’s de-escalation is fragile — Hezbollah exchanges continued in southern Lebanon. Any renewed escalation overnight will put oil back above $95 and reverse today’s gains. Watch for news flow from the region before Tuesday’s open.
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