Morning Preview: June 16, 2026

Early Look

Tuesday, June 16, 2026

After another monster rally on Wall Street Monday pushed major averages to new all-time highs or close to it, markets await comments from the Fed tomorrow and further details of the US/Iran deal (expected Friday) that lifted market sentiment. Wall Street’s main indexes rallied, with the Dow marking a record-high close after the U.S. and Iran struck a preliminary agreement to end the Iran war and reopen the Strait of Hormuz, leading to an easing of inflation fears as crude oil prices dropped. Overnight, U.S. President Trump said the Iran deal specifies that Iran will not have a nuclear weapon. “The only thing that really matters to me is Iran will never have a nuclear weapon, and it says it loud and clear,” he told reporters at the G7 summit in France. “All hell will rain down” on Iran if the Iranian government intended to acquire a nuclear weapon, he added. Futures are mixed/little changed this morning a day after record highs for the Dow Jones Industrial Average, the Russell 2000 Index and the PHLX Semiconductor Index (SOX), while SpaceX (SPCX) surged 19% for a second straight day on Monday after its IPO priced at $135 last Thursday and shares are indicated higher yet again this morning by over 10% pre mkt.

WTI oil, the U.S. benchmark falls another 2.6% at $78.60 per barrel after tumbling just under -5% Monday, its lowest since early March. But it is still far above the pre-war prices around $65. The U.S.-Iran deal is expected to ease pressure on the Fed, which will hold its first meeting chaired by Trump appointee Kevin Warsh on Wednesday, to raise rates to curb inflation.

In central bank news, the Bank of Japan raised its overnight call rate by 25bps to 1.0% (a high since 1995) as was fully priced in. The vote was 7-1, with dove Asada preferring a steady hand and Governor Ueda absent. In Asian markets, The Nikkei Index rose 87 points to 69,404, the Shanghai Index dipped -4 points to 4,091, and the Hang Seng Index declined -348 points to 24,493. In Europe, the German DAX is up 180 points to 25,074, while the FTSE 100 rises 69 points to 10,500.

• The Dow Jones Industrial Average rose 468.77 points, or 0.92%, to 51,671.03
• The Nasdaq Composite surged 795.10 points, or 3.07%, to 26,683.94
• The Russell 2000 Index advanced 21.13 points, or 0.72% to 2,965.12

• 8:30 AM ET                  Housing Starts M/M for May…est. 1.43M
• 8:30 AM ET                  Building Permits M/M for May…est. 1.42M
• 8:30 AM ET                  Import Prices M/M for May…est. +1.0%
• 8:30 AM ET                  Export Prices M/M for May…est. +1.2%
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 1:00 PM ET US Treasury to sell $16B in 20-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: LZB YQ

• Goldman Sachs European Business Services, Transport, Leisure, Infra & Building Materials Conference, 6/16-6/17
• Jefferies Nantucket Consumer Conference, 6/16-6/17, in Nantucket, MA
• Truist 2026 MedTech Conference, 6/16, in Boston, MA
• Truist 2026 Truist Industrials & Services Conference, 6/16-6/17 in New York

• On the balance sheet, the Bank of Japan will keep trimming monthly JGB purchases by about JPY 200bn each quarter until the first quarter of 2027, then hold the pace at about JPY 2tn a month from April 2027, halting the active reduction it has run since 2024
• China retail sales fell for the first time in over three years and investment slumping, while industrial output picked up pace. China retail sales slid -0.6% in May, data showed, reversing April’s 0.2% rise and below the estimated 0.0% in a Reuters poll. It was the first monthly fall since December 2022.
• China industrial output rose 4.5% in May from a year earlier, picking up from 4.1% growth in April and beating expectations of a 4.3% increase.
• China’s housing market remained under pressure in May, with new-home prices falling 0.2% month-over-month and resale home prices declining 0.26%, marking the steepest drop in existing-home values in three months.
• Iran will unlock $300B reconstruction fund if it gives up uranium stockpile ‘; JD Vance said Iran will not receive immediate reconstruction funding under the war-ending agreement but could receive significant sanctions relief if it complies with the deal’s terms.
• Qatar is to restore half of its LNG output a month after the Strait of Hormuz opens, with output to reach 80% of full output within two months.

• ConocoPhillips (COP) is set to sign a contract with Syria’s new government to revive gas production, the Financial Times reported, citing two people familiar with the matter. ConocoPhillips and Novaterra Energy will develop existing gas fields and explore for new reserves.
• Exxon Mobil (XOM) upgraded to Buy from Neutral with $154 tgt saying they see limited fundamental downside at current levels and believes shares are pricing in long-term oil around $65/bbl. Firm argues the stock has not fully reflected the positive impact of recent geopolitical developments on oil markets.
• Oklo (OKLO) and Standard Nuclear, a reactor-agnostic producer of TRISO nuclear fuel, have entered a memorandum of understanding to explore commercial collaboration on nuclear fuel recycling and advanced fuel manufacturing.
• Olin Corp. (OLN) and Huntsman Corporation (HUN) have entered into a definitive agreement to combine in an all-stock merger of equals. Under the terms, Huntsman shareholders will receive 0.5476 shares in Olin for every one share of Huntsman. Upon completion of the transaction, Olin shareholders will own approximately 54.5% and Huntsman shareholders will own approximately 45.5% of the combined company. The merger will create a chemicals company with over $12 billion in annual revenue and is expected to generate over $400 million of identified cost synergies. he implied offer price of $13.85 per share is about 12.8% below Huntsman’s last closing price.
• Palantir (PLTR) upgraded to Peer Perform (from underperform) after resuming coverage as believes the company’s Artificial Intelligence Platform, ontology, and forward deployed engineers prove the company can turn AI interest into scaled enterprise adoption. However, Palantir’s current valuation reflects much of its improved growth and margin outlook.
• Parsons (PSN) has been selected for the design oversight and construction oversight contracts on the estimated $1.1B-$1.4B design-build John A. Blatnik Bridge Project by the Minnesota and Wisconsin Departments of Transportation.

• Robinhood (HOOD) said it will cut 10% of its full-time workforce; estimates $20M in severance and benefits charges and $8M in share-based compensation; charges expected to be recognized in Q2.
• Rocket Companies (RKT) downgraded to Neutral from Buy at BTIG without a price target saying the rate environment has been more challenging in 2026 than initially expected.

• Camp4 Therapeutics (CAMP) upgraded to Overweight from Neutral at JPMorgan and raise tgt to $9 from $5 saying shares are undervalued on the potential for CMP-002 in SYNGAP1-related disorder.
• Ensign Group, Inc. (ENSG) increases stock repurchase authorization by $60M to $100M.
• Novo Nordisk (NVO) plans to seek Chinese regulatory approval for its weight-loss pill “very soon,” CEO Mike Doustdar said Tuesday – Reuters.

• Applied Materials, Inc. (AMAT) introduced two new chipmaking systems designed to solve an emerging challenge in leading-edge semiconductor manufacturing: achieving precision processing in increasingly deep and narrow 3D structures.
• Domo Inc. (DOMO) said in February the co initiated a formal process to explore strategic alternatives to maximize shareholder value. The Board has concluded that pursuing a strategic transaction represents the best path to maximize value for shareholders; Q1 Adj EPS -$0.02 vs. est. -$0.07 (beat); rev $79.4Mm vs. est. $79.75Mm (slight miss); billings $60.4Mm; no guidance provided.
• Ericsson (ERIC) announces that Per Narvinger has been appointed President and CEO by the Board of Directors as Borje Ekholm has decided to step down as CEO of Ericsson.
• Nvidia (NVDA) raised $25B in high-grade bonds, up from a $20B target, amid strong $85B investor demand, marking its first debt issuance since 2021 and reflecting intense appetite for AI-linked credit as proceeds are expected to be used for refinancing and other corporate purpose – Bloomberg
• Qualcomm (QCOM) is in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion, the Information reported on Monday, citing a person with direct knowledge of the deal. The talks are ongoing and the price could change, or the discussions could fall apart.
• Quantum Corporation (QMCO) has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with respect to its Annual Report on Form 10-K for the fiscal year ended March 31.
• STMicroelectronics (STM) announces a $1.5B dual-tranche offering of new convertible bonds and the early redemption of its 2027 convertible bonds.