Morning Preview: June 08, 2026

Early Look

Monday, June 8, 2026

U.S. futures are mixed to start the week as the S&P 500 and Nasdaq Comp are edging higher after tumbling last Friday, ending the week lower and snapping the 9 week winning streak for the S&P 500 index. The Nasdaq Composite dropped over -4% Friday, its biggest daily drop since April 2025, and the S&P 500 largest since October 2025 on heavy chip sector selling. The PHLX Semiconductor index tumbled -10.3% on Friday for its deepest one-day loss since March 2020 after what has been a magnificent run to start the year, up more than 90% YTD as of 2 days ago when hit record highs around 14,000 before sliding to lows of 12,220 last week. For the week, S&P 500 down -2.59% (snapping its win streak at 9 weeks), Nasdaq down -4.68%, and the Dow was down -0.32%. Overnight, crude oil futures jumped more than $4/bbl after ⁠Iran fired at least four waves of missiles toward Israel in response to a deadly Israeli airstrike on Beirut that targeted Iran-backed Hezbollah militants. The attack marked the first time Iran has targeted Israel since its ceasefire with the U.S. went into effect in early April; Israel said it intercepted the Iranian missiles. Treasury yields are also jumping.

Investor attention, while still focused on the Middle East and rising rate fears, turns to two major tests in the coming days: two closely watched inflation reports with the May CPI and PPI this week and the debut of SpaceX’s (SPCX) record-setting initial public offering (IPO) which is expected to price at $135 on Thursday night. Both events could influence investor sentiment at a time when markets are already grappling with higher borrowing costs and concerns about stretched valuations. Strong employment data last week (ADP, JOLTS and Nonfarm) reinforced the view that the Fed may need to keep policy tight to contain inflation pressures, particularly after the Iran conflict pushed energy prices higher. The two-year Treasury yield rose above 4.16%, while the benchmark 10-year yield climbed past 4.5%. Also starting today is Apple’s (AAPL) annual Worldwide Developers Conference (WWDC) on Monday at its Cupertino, Calif., headquarters. Also this week, Central bank meetings with the Bank of Canada (BOC) on Wednesday June 10th, European Central Bank (ECB) decision on Thursday 6/11 (the week after is FOMC and BoJ).

In Asian markets, The Nikkei Index tumbled -2,563 points or 3.85% to settle at 64,024, the Shanghai Index fell -68 points or 1.7% to settle at 3,959, and the Hang Seng Index dropped -304 points to 24,657. The South Korea Kospi was halted for 20 minutes after crashing almost 10%, with shares of Samsung and SK Hynix tumbling, following the decline in DRAM/memory chip stocks on Friday in the U.S. (MU, SNDK) and ended down -110 points or 8.52% at 1,186. In Europe, the German DAX is down -151 points to 24,597, while the FTSE 100 is little changed at 10,369.

• The Dow Jones Industrial Average fell -695.15 points, or 1.35%, to 50,866.78
• The Nasdaq Composite plunged -1,121.53 points, or 4.18%, to 25,709.43
• The Russell 2000 Index declined -101.83 points, or 3.47% to 2,833.50

• Earnings After the Close: AVO GLOO MAMA MTN ODC ZEPP

• Goldman Sachs Global Healthcare Conference, 6/8-6/10
• Oppenheimer 2026 Software Bus Tour, 6/8-6/9
• Oppenheimer 26th Annual Consumer Growth & E-Commerce Conference, 6/8-6/11

• Babcock & Wilcox (BW) announced it is collaborating with TerraSpark in support of its planned energy generation project in West Virginia.
• Ingredion Inc. (INGR) announced a recommended all-cash offer for the acquisition of Tate & Lyle. The transaction implies a total enterprise value of approximately GBP 3.7B, or $5B. The integration is expected to deliver significant run-rate net cost synergies of approximately $130M.

• Artisan Partners Asset Management Inc. (APAM) reported that its preliminary assets under management (“AUM”) as of May 31, 2026, totaled $186.0B. Artisan Funds and Artisan Global Funds accounted for $92.3B of total firm AUM, while separate accounts and other AUM(1) accounted for $93.7B.

• Incyte Corp. (INCY) is close to acquiring privately held Star Therapeutics in a deal valued at up to $2 billion, the Financial Times reported Sunday, citing people familiar with the matter. The biotechnology company is expected to pay about $1.25B in cash up-front, with an additional $750 million tied to future performance milestones.
• Pfizer (PFE) reported detailed results from several mid-stage trials this weekend, noting that its obesity therapy, berobenatide (PF’3944), added from its Metsera acquisition last year, could become the first GLP-1 therapy approved for monthly dosing. Citing data from its Phase 2b VESPER-1, 2, and 3 trials presented at the 86th Scientific Sessions of the ADA on Saturday.
• Structure Therapeutics (GPCR) announced a publication in Nature Medicine detailing results from the Phase 2b ACCESS clinical trial of aleniglipron for the treatment of people living with obesity and/or overweight with at least one weight related co-morbidity. Aleniglipron shows up to 16.2% weight loss beyond 36 weeks in phase 2B trial; Aleniglipron demonstrates 10.4% discontinuation rate with favorable tolerability.
• Unicycive Therapeutics (UNCY) files base prospectus to offer up to $150M in securities

• Marvell Technology (MRVL) and Flex Inc. (FLEX) to replace Pool Corp (POOL) and Campbells (CPB) in S&P 500 at open on 6/22. S&P Dow Jones Indices will make the following changes to the S&P 500 index effective prior to the open of trading on Monday, June 22, 2026, to coincide with the quarterly rebalance.
• Nvidia (NVDA) CEO Jensen Huang said the company’s newly unveiled Vera data-center processor will incorporate memory supplied by SK Hynix, signaling a deeper partnership between the two companies as demand for AI infrastructure continues to expand, Bloomberg News reported.
• Roku (ROKU), Coeur Mining (CDE), Semtech (SMTC), Sanmina (SANM), and Viavi Solutions (VIAV), will all be added to the S&P Midcap 400 index effective prior to trading Monday June 22^nd and is deleting Flex (FLEX), BellRing Brands (BRBR), Coty (COTY), Concentrix (CNXC), and Blackbaud (BLKB) to ensure the index is more representative of its market capitalization range.
• A consortium comprising Bouygues Telecom, Orange (ORANY)(FNCTF) and Free has signed a memorandum of understanding to acquire SFR from Altice France in a transaction valued at approximately €20.4 billion ($23.5 billion), including debt,