Morning Preview: June 24, 2026

Early Look

Wednesday, June 24, 2026

After global stocks fell on Tuesday, dragged by a broad selloff in technology (XLK) and semiconductor shares (SOX), US futures are looking slightly higher with a +0.5% rebound in the Nasdaq after tumbling 2% on Tuesday, ahead of key Micron (MU) earnings tonight. Stocks fell sharply yesterday as investors kept taking profits on a long rally while bracing for more aggressive Federal Reserve action to fight inflation. In stock news, GOOGL will replace Verizon in the Dow Jones Industrial Average on June 29^th, the first change to the Dow 30 since 2024. The US dollar extends its gains, with the DXY up at 101.70 at 13-month highs (May 2025) and the euro dipping to lows of 1.134, more than 1-year lows as expectations of a U.S. rate hike continued to build, with Fed officials sounding increasingly hawkish as the economy remains strong. The stronger dollar continues to weigh on metals as gold slides under $4,100 and silver prices hit 28-week lows of $60 an ounce. Note Amazon (AMZN) kicked off its 3-day Prime Day today. In Asian markets, The Nikkei Index fell -613 points to 69,174, the Shanghai Index edged higher 4 points to 4,110, and the Hang Seng Index gained 75 points to 23,412. The Soth Korea Kospi rebounded 3.6% after falling 10% the day prior. In Europe, the German DAX is down -229 points to 24,664, while the FTSE 100 rises 12 points to 10,441. In macro news, Iran will address matters related to access to nuclear sites that have been attacked and to Iranian nuclear materials only in the framework of a final agreement with the United States and after practical steps are taken to lift U.S. sanctions, Deputy Foreign Minister Kazem Gharibabadi said. Wall Street also awaits key PCE inflation data later this week.

• The Dow Jones Industrial Average slid -45.87 points, or 0.09%, to 51,666.84
• The Nasdaq Composite tumbled -579.56 points, or 2.21%, to 25,587.04
• The Russell 2000 Index declined -26.96 points, or 0.90%, to 2,977.45

• 8:30 AM ET                  Current Account Balance for Q1
• 10:00 AM ET                New Home Sales M/M for May
• 10:30 AM ET                Weekly EIA Inventory Data
• 1:00 PM ET US Treasury to sell $70B in 5-year notes

• Earnings After the Close: FUL MLKN MU TCOM WS

• Nike, Inc. (NKE) announces planned CFO transition as David M. Denton appointed as CFO effective August 17; Matthew friend to step down as CFO, will remain through September 4; Q4 results to include tariff refund benefit; excluding this, results in line with guidance.
• For Housing sector, Congress Clears Housing Bill, Cementing a Rare Bipartisan Feat. A lopsided House vote cleared the measure for President Trump’s signature after a lengthy back and forth and several nearly fatal blows to the legislation. With dozens of provisions, the 21st Century Road to Housing Act aims to touch communities across the Country, addressing rural and Urban needs as part of a strategy to eventually bring down housing costs. It loosens federal regulations, making it easier, faster and cheaper to build (seen positive for SKY, CVCO).

• Honeywell Aerospace (HONA), a spinoff from Honeywell International, will join the S&P 500 index on June 29th, replacing Conagra Brands (CAG).
• Worthington Enterprises (WOR) Q4 adj EPS $0.97 misses the $1.06 est.; Q4 revs rose 17% y/y to $371.5M vs. est. $386.5M; Q4 adj Ebitda was $83.5M, op income $23.2M, net income $48.1M; recent acquisitions added $44.1M, while organic growth was 3%; Operating cash flow increased to $71.6M; free cash flow rose to $55.1M.

• Morgan Stanley (MS) capped limited redemptions again at its $7B flagship private credit fund after investors sought to withdraw almost 11.6% of units outstanding, a regulatory filing showed. North Haven Private Income Fund (PIF) said it would meet 43% of Q2 redemption requests after investors sought to withdraw about 10.9% of the fund in the prior quarter, adding that about half of the latest requests came from investors who had been unable to fully cash out earlier.
• MSCI Inc. (MSCI) has agreed to acquire First Street, a provider of physics-based climate risk data and analytics, for $120M in cash at closing, with potential additional payments tied to revenue thresholds over the first two years after closing.

• ICON Plc. (ICON) Q1 Adj. EPS $2.50 vs. est. $2.42 and revs $2.034B (+0.9% YoY, -1.9% constant currency, vs. est. $1.994B; adj. EBITDA $317.7Mm (15.6% margin, -20.2% YoY) vs est $314.2Mm; net business wins $2,880Mm; book-to-bill 1.42; backlog $22.7B (+4.0% QoQ); FY26 guidance reaffirmed: rev $7.850-$8.150B vs est $8.019B, adj. EPS $10.00-$11.00 vs est $10.55; FCF $136.2Mm; cash $765.2Mm, net debt $2.6B
• MoonLake Immunotherapeutics (MLTX) 9M share Secondary priced at $20.00.
• UniQure (QURE) 4.95M share Spot Secondary priced at $45.50.

• Cerebras (CBRS) Q1 revenue rose 94% y/y to 193.41M while Q1 net loss narrowed to $14.01M from $23.87M y/y; Q1 gross margin rose 2.8 percentage points to 44.6%; forecast FY26 adjusted gross margins of 38%-41%, down from 47% in Q1 overshadows strong Q2 sales outlook as sees revs $194M vs. est. $164.3M; Entered a master relationship agreement with OpenAI for 750MW of AI inference capacity, with deployments expected in tranches during 2026-2028.
• Bilibili Inc’s (BILI) announces new $300 million share buyback program; reported a 7% rise in Q4 revenue, helped by advertising growth.
• Humanoid robotics company Agility Robotics is going public through a merger with Churchill Capital Corp XI (CCXI). The deal values Agility at $2.5B pre-money and is expected to generate $620M+ in gross proceeds, including a ~$200M PIPE led by Foxconn. Will take Agility Robotics public, ticker (AGLT).
• Micron Technology (MU), the memory-chip maker is due to report earnings after markets close today. Micron shares slumped 13% yesterday amid a selloff in tech stocks.
• South Korea’s SK Hynix said it plans to raise up to $29.4 billion through a U.S. stock market listing in what would be a record secondary listing. If completed at the top end, the offering would be the largest U.S. listing by a Korean firm and potentially the biggest ever via American Depositary Receipts, surpassing Alibaba’s $25 billion 2014 debut.
• Take-two Interactive Software (TTWO) Rockstar Games to begin Grand theft Auto VI pre-orders on June 25, 2026; Grand theft Auto VI launches November 19, 2026 for PS5 and Xbox series X|s at $79.99; Grand theft Auto VI: ultimate edition to be available for $99.99; pre-orders before November 20, 2026 include vintage vice City pack and free month of GTA+