Morning Preview: June 10, 2026

Early Look

Wednesday, June 10, 2026

U.S. futures tumble overnight after the U.S. military struck Iranian targets after President Trump vowed on Tuesday to respond to the downing of a U.S. Apache attack helicopter. The latest attacks shifted traders’ focus back towards war risks and potential supply disruptions while markets also awaiting data today with May consumer prices (CPI) at 8:30 am et. Economists are looking for headline Consumer Price Index (CPI) M/M for May to rise +0.5% (prior +0.6%) and Y/Y est. +4.2% (prior +3.8%) and Core CPI – Ex: Food & Energy M/M for May est. +0.3% (prior +0.4%) and Y/Y for May est. +2.9% (prior +2.8%). Oil prices were steady, as renewed U.S.-Iran hostilities muddied direction and investors weighed lower Chinese demand with global inventory draws. Lower Chinese crude oil imports are helping to keep a ceiling on prices, as is a limited flow of shipping through the Strait of Hormuz. Prices earlier traded higher on renewed strikes by the United States and Iran, before retreating towards the previous session’s close. Iran said it would resume hostilities if Israel continued to attack the Hezbollah militia in Lebanon. Gold prices tumble, falling under $4200/oz for the first time since March 23, while gold has not closed under the figure since December 8.

Stock markets finished mixed on Tuesday as the Dow Jones Industrial Average and Russell 2000 index both finished in positive territory, but a market rotation out of chip stocks resumed, sending the S&P 500 index and Nasdaq Composite lower, though recovered from deeper losses on Tuesday. Key inflation data today with CPI and tomorrow PPI, as well as Oracle (ORCL) earnings tonight and a few key central bank meetings including the ECB which is expected to raise rates comes ahead of a major event on Friday, when SpaceX (SPCX) is expected to make its market debut and set a record for the largest public offering in history with the 555M share IPO expected to price at $135 per share. In Asian markets, The Nikkei Index tumbled -1,237 points to 64,179, the Shanghai Index fell -16 points to 3,993, and the Hang Seng Index dropped -157 points to 24,407. In Europe, the German DAX is down -212 points to 24,220, while the FTSE 100 declines -61 points to 10,165.

• The Dow Jones Industrial Average rose 86.10 points, or 0.17%, to 50,872.11
• The Nasdaq Composite dropped -250.84 points, or 0.97%, to 25,678.82
• The Russell 2000 Index advanced 11.60 points, or 0.41% to 2,867.02

• 8:30 AM ET                  Consumer Price Index (CPI) Headline M/M for May…est. +0.5% (prior +0.6%)
• 8:30 AM ET                  Consumer Price Index (CPI) Headline Y/Y for May…est. +4.2% (prior +3.8%)
• 8:30 AM ET                  Core CPI – Ex: Food & Energy M/M for May…est. +0.3% (prior +0.4%)
• 8:30 AM ET                  Core CPI – Ex: Food & Energy Y/Y for May…est. +2.9% (prior +2.8%)
• 10:30 AM ET                Weekly DOE Inventory Data
• 11:00 AM ET                Cleveland Fed CPI for May
• 1:00 PM ET US Treasury to sell $42B in 10-year notes
• 2:00 PM ET                   Federal Budget for May

• Earnings After the Close: AEMD ATEX MIND NAVN ORCL OXM SFIX

• DA Davidson 2nd Annual Technology & Consumer Conference, 6/10-6/12, in Nashville, TN
• Goldman Sachs Global Healthcare Conference, 6/8-6/10
• Mizuho Technology Conference, 6/9-6/10, in New York
• Oppenheimer 26th Annual Consumer Growth & E-Commerce Conference, 6/8-6/11
• Oppenheimer 24th Annual Semiconductor Bus Tour, 6/10-6/12
• Truist Las Vegas Gaming Bus Tour 6/10

• China May wholesale inflation hits near 4-year high on Iran war, Ai costs; consumer inflation misses. -The producer price index jumped 3.9% from a year ago, the highest since July 2022. Consumer prices rose 1.2% in May from a year earlier, missing economists’ estimates of 1.3% growth.
• Bank of Japan Governor Kazuo Ueda has been hospitalized for medical treatment and will miss the June 15-16 policy meeting, the central bank said on Wednesday. Deputy Governor Ryozo Himino will preside over the rate review in place of Ueda, and the other deputy governor, Shinichi Uchida, is set to host the post-meeting press conference, the BOJ said in a statement.
• Turkish President Tayyip Erdogan said on Wednesday that Israel’s attacks on Syria and Lebanon had reached a point where they also threaten Turkey, adding Israel’s “aggression” posed a threat to the whole world and must be stopped.
• Japan’s PPI rose 0.9% MoM in May (est. 0.8%, prev. 2.8%) and 6.3% YoY (est. 5.6%, prev. 5.3%) accelerating for a third straight month. Import prices rose 3.0% MoM and 15.5% YoY (prev. 10.8%), with export prices up 0.7% MoM and 11.7% YoY (prev. 9.7%).

• Casey’s General Stores (CASY) Q4 revs $4.57B and EPS $4.37; Q4 Fuel same-store gallons were up 1.5% compared to the prior year with a fuel margin of 46.9 cents per gallon; Q4 Inside same-store sales were up 5.5% compared to the prior year, and 7.4% on a two-year stack basis, with an inside margin of 42.4%
• Cracker Barrel (CBRL) Q3 adj EPS $0.29 vs. est. loss (-$0.48); Q3 revs $797.4M vs. est. $776.7M; reported Q3 comp store sales growth fell -2.6%; guides FY revs $3.27B-$3.3B vs. est. $3.25B; guides FY Ebitda $120M-$125M and capex $105M-$115M.
• Limoneira (LMNR) Q2 EPS adj. $(0.29) vs est ($0.21); Q2 revs $23.9Mm vs. $21.4Mm est. (beat); adj. EBITDA loss $(1.7Mm) vs est ($2.269Mm); raises FY2026 avocado volume guidance to 5.5Mm-6.5Mm lbs (raised); reiterates FY2026 fresh lemon volume guidance of 4.0-4.5Mm cartons.

• Devon Energy (DVN) upgraded to Outperform from In Line at Evercore ISI.
• Volvo (VLVLY) sees revenue from autonomous transportation approaching $3B within five years after starting driverless operations on U.S. highways in a few months, Bloomberg reports. Robo-trucks are poised to start driving in the U.S. during the first quarter, with more than 300 autonomous rigs on highways by the end of 2027

• Invesco Ltd. (IVZ) prelim month-end assets under management (AUM) of $2,453.9 billion, an increase of 4.9% versus previous month-end. The firm delivered net long-term inflows of $18.9 billion in the month. Money market net inflows were $0.4 billion. AUM was positively impacted by favorable market returns which increased AUM by $96 billion.
• KKR (KKR) and Energy Capital Partners is in detailed talks to acquire Ireland’s DCC, valuing the energy distributor at over £5 billion ($6.69 billion), Sky News reported on Wednesday.
• Robinhood Markets, Inc. (HOOD) May 2026 operating data shows total platform assets $377B as of May 2026, up 9% from April; Net deposits $5.6B in month and crypto trading volumes $12.2B, up 3% M/M.

• Lakeland Industries (LAKE) Q1 EPS $0.04 vs. $(0.15) vs. est. (beat by $0.19); net sales $47.4Mm (+1.4% YoY) in line with $47.4Mm est.; Q1 adj. EBITDA ex-FX $1.1Mm; net Income $0.4Mm, returning to profit; no explicit Q2 or FY27 guidance disclosed.
• Novo Nordisk (NVO) is heading to court in South Africa on Wednesday to try to halt the sale of unapproved copies of semaglutide, the key ingredient in its blockbuster weight-loss and diabetes drugs Wegovy and Ozempic.
• Sanofi (SNY) said it would stop a late-stage study of an experimental treatment for a rare immune disorder after concluding the drug was unlikely to deliver sufficient efficacy; SNY said it would consider whether to continue other studies for the drug, riliprubart, currently under way.
• Summit Therapeutics (SMMT) files for mixed shelf offering.
• Tango Therapeutics (TNGX) 18.2M share Secondary priced at $30.00

• Akamai (AKAM), a Microsoft (MSFT) partner, announced it has earned the Solutions Partner with certified software designation for API Security within the Microsoft AI Cloud Partner Program
• ChipMOS (IMOS) reports May revenue $76M, up 17.7%.
• Super Micro Computer Inc. (SMCI) announces proposed $7.0B of equity and equity-linked financing transactions to fund ai orders. The proposed offerings consist of: concurrent underwritten offerings: $5.0B underwritten public offerings, consisting of: (1) approximately $1.25B of common stock and (2) approximately $3.75B of depositary shares