Morning Preview: June 09, 2026

Early Look

Tuesday, June 9, 2026

Stock markets closed mostly higher on Monday, led by shares in Tech (XLK) and Energy (XLE) while most other sectors finished the day in negative territory as U.S. stocks began the week by clawing back some ground lost in Friday’s steep selloff, when the S&P 500’s nine-week winning streak was derailed and the chip sector alone saw over $1 trillion in capitalization disappear in selling pressure. So far, the damage has been relegated to one day despite Treasury yields staying elevated around 4.55% for the 10-year and Fed rate hike expectations also high given the recent bout of strong jobs and higher inflation. The next wave of inflation data comes tomorrow morning (CPI) and Thursday (PPI). The Nasdaq looks to add to sturdy gains of +0.9% on Monday after that mass selling pressure the end of last week. Less than a week after registering all-time closing highs, the S&P 500 and the Nasdaq were off those highs by 2.7% and 4.3%, respectively. The Dow is now 1.5% below its closing record. In Asian markets, The Nikkei Index jumped 1,392 points to 65,416, the Shanghai Index jumped 50 points to 4,010, and the Hang Seng Index declined -91 points to 24,565. In Europe, the German DAX is up 204 points to 24,820, while the FTSE 100 is down -25 points to 10,348. In addition to the two data points coming up, we have Oracle (ORCL) earnings Wednesday night, a few central bank meetings and the SpaceX (SPCX) IPO to be priced Thursday night.

• The Dow Jones Industrial Average fell -80.77 points, or 0.16%, to 50,786.01
• The Nasdaq Composite jumped 220.23 points, or 0.86%, to 25,929.66
• The Russell 2000 Index advanced 21.92 points, or 0.77% to 2,855.42

• 7:45 AM ET ICSC Weekly Retail Sales
• 8:30 AM ET                  International Trade for April…est. (-$56.1B)
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 10:00 AM ET                Existing Home Sales M/M for May…est. 4.07M
• 10:00 AM ET                Wholesale Inventory M/M for April…est. +0.5%
• 1:00 PM ET US Treasury to sell $58B in 3-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: BARK CASY CBRL DOMO LAKE LMNR SKIL

• China PPI Y/Y, CPI Y/Y and M/M for May
• Goldman Sachs Global Healthcare Conference, 6/8-6/10
• Mizuho Technology Conference, 6/9-6/10, in New York
• Oppenheimer 2026 Software Bus Tour, 6/8-6/9
• Oppenheimer 26th Annual Consumer Growth & E-Commerce Conference, 6/8-6/11
• RBC Capital 2026 Financial Technology Conference, 6/9 in New York

• Chinese exports jumped 19.4% YoY, handily beating the already lofty consensus of 15%. Meanwhile, despite imports soaring by 27.4%, compared with 26% expected, the monthly trade surplus surged to $105.4bn from $84.8bn.
• South Korea’s economy expanded at its fastest pace in over five years in Q1 2026, +1.8% QoQ, revised up from the initial 1.7% estimate. This took annual growth to 3.8%, a substantial acceleration from Q4’s 1.6% YoY expansion, driven by a sharp rebound across manufacturing and capital expenditures.
• Taiwan authorities are planning much stricter export controls on AI chip sales to China to further align with U.S. measures – Bloomberg reported.

• Mission Produce (AVO) Q2 adj. EPS $0.01 vs. $0.05 est. (miss by $0.04); revs $290.9Mm vs. $256.3Mm est. (beat; –24% YoY to $290.9Mm); gross profit $20.5Mm; pretax loss $8.7Mm; announces authorization of a $100Mm share repurchase program over the next 3 years.
• Stellantis (STLA) Chrysler is recalling a group of hybrid electric vehicles over concerns that their battery packs may catch fire. The National Highway Traffic Safety Association said the battery packs may catch fire even when the vehicle is parked with the ignition in the “Off” position, increasing the risk of injury. The recall covers more than 17,000 vehicles, including Pacifica Plug-In Hybrid Electric models.
• Vail Resorts (MTN) Q3 EPS $8.81 vs. est. $8.95 and revs $1.21B vs. est. $1.2B; Q3 net income $314.4M vs. $389.7M y/y and Q3 adj Ebitda $586.4M, down from $647.7M y/y; reduced its fiscal 2026 guidance, in line with the update provided in April, and is now expecting net income of $128M-$162M and Ebitda $735M-$755M.

• FedEx (FDX) board approves 5% increase in annual dividend rate after spin-off adjustment; sets annualized dividend rate at $4.88 for June 1-dec. 31, 2026
• Oil Dri Corp. (ODC) Q3 EPS $1.00; net Income $14.5Mm (+25% YoY); revs $126.3Mm (+9% YoY); gross profit $33.7Mm; operating Income $17.1Mm; pretax profit $17.9Mm; Q3 described as a record revenue quarter with strong earnings growth; management highlights that Middle East conflict has driven broader market volatility but did not materially affect Q3 results
• WhiteHawk Minerals (WHK) 7.7M share IPO priced at $26.00; the deal size was increased to 7.7M shares of common stock from 6.95M

• Synchrony Financial (SYF) 30+ delinquency rate 4.2% as of May 31, 2026, and adjusted net charge-off rate 5.4% as of May 31, 2026.

• Ideaya Biosciences (IDYA) 5.56M share Spot Secondary priced at $27.00
• Merck (MRK) and Gilead (GILD) provide update on phase 3 keynote-d46/evoke-03 study; said study did not achieve statistical significance for progression-free or overall survival; discontinuation of phase 3 keynote-d46/evoke-03 study investigating Gilead’s Trodelvy in combination with Keytruda.
• Neurocrine Biosciences (NBIX) announced new post-hoc data from the KINECT 4 clinical trial demonstrating that adults with tardive dyskinesia treated with INGREZZA capsules experienced clinically meaningful and robust improvements in involuntary movement severity.
• Novanta Inc. (NOVT) announces acquisition of Riverpoint Medical in deal valued at $1.2B upfront plus $250M milestone payment in Q1 2027.
• Nuvalent (NUVL) shares jump after agreeing to be acquired by GSK Plc (GSK) for $10.6 billion. GSK is making a tender offer for Nuvalent at $124 a share in cash, a 40% premium to yesterday’s close. The biotech has two experimental lung-cancer drugs in late development, zidesamtinib and neladalkib.
• Perrigo (PRGO) said both its chief executive and president resigned. The departures after the CEO’s personal conduct was found to violate the company code.

• Apple (AAPL) decided not to roll out its new Siri AI tool in the European Union after it had unsuccessfully requested to be exempted of interoperability obligations for the tool, a spokesperson for the EU Commission said on Tuesday. “The decision not to roll out Siri AI in the EU is Apple’s and Apple’s only,” spokesperson Thomas Regnier told reporters in Brussels.
• Applied Digital (APLD) announced it has entered into a new long-term lease agreement at Delta Forge 2, a purpose-built AI Factory campus located in a new southern state. The lease is with a U.S. based high investment-grade hyperscaler, marking the company’s fifth AI Factory campus overall.
• Cadence (CDNS) announced an expanded collaboration with Intel Foundry to advance Design Technology Co-Optimization, DTCO, targeting Intel’s next-generation process technologies, beginning with Intel 14A
• Gloo Holdings (GLOO) Q1 EPS loss (-$0.21) vs. $(0.22) est. on revs $41.5Mm vs. $36.0Mm est.; Q1 operating expenses $60.3Mm; operating loss $18.7Mm; pretax loss $17.9Mm; adj. EBITDA loss $11.5Mm; raises FY2026 rev guidance to $195Mm and sees Q2 2026 revs $44Mm vs. $42.7Mm Street.
• Nebius (NBIS) announced the Physical AI Living Lab, a six-month program that equips British and European robotics startups with NVIDIA’s physical AI development tools and Nebius’ AI cloud infrastructure.
• Qnity Electronics (Q) introduced enhanced advanced packaging material solutions for organic interposer applications: Intervia 8540HSP multi-role copper and Cyclotene DF6800M dry film photo-imageable dielectric.
• Sirius XM Holdings (SIRI) was selected for inclusion in the S&P MidCap 400 index, replacing Masimo Corp (MASI).
• The FT reported that the Pentagon has reinstated Alibaba (BABA), Baidu (BIDU) and BYD (BYDDF) to a blacklist of Chinese companies deemed to pose a national security risk to the US because of alleged connections to the People’s Liberation Army