Your Evening Briefing

June 08, 2026

Stocks climb higher as traders buy the dip in chip stocks

The S&P 500, Nasdaq 100, and Russell 2000 all climbed higher. The iShares Semiconductor ETF (SOXX) surged to one of its best days of the year as chip stocks rebounded.

Information technology, energy, and consumer discretionary were the only sectors to outperform the S&P 500. Utilities was today’s worst performer.

Oil prices rose as Israel and Iran traded strikes on each other, but pared steeper gains on news that the countries have halted their attacks.

Stocks that moved higher:

Nvidia rose on a multiyear partnership with SK Hynix and other South Korean companies focused on memory chips and AI data center buildout.
Intel surged on a report from The Information that Nvidia and Alphabet are considering it as a backup chip-maker.
Corning soared on a multibillion-dollar deal to power and connect Amazon AI data centers with fiber optics.
Rivian climbed ahead of its R2's launch tomorrow, with deliveries planned later this month.
Marvell Technology climbed after S&P Dow Jones Indices announced after the bell on Friday that the chipmaker is set to join the S&P 500 benchmark index.
Nurix Therapeutics jumped after Roche agreed to pay as much as $2.3 billion for rights to its blood cancer drug.
Tango Therapeutics skyrocketed after reporting “unprecedented” data on its pancreatic cancer treatment.
Nintendo climbed ahead of its second-half games showcase set for Tuesday.
Strategy rose after making a big bitcoin buy following a stretch that ranked among the worst weeks of the decade for the cryptocurrency. Additionally, Strategy shareholders approved switching from monthly to semimonthly dividends for STRC, its perpetual preferred equity instrument.
BitMine Immersion Technologies gained after buying the dip with its largest ethereum purchase this year.
Eli Lilly ticked higher after reporting impressive trial results for its next-generation weight-loss drug over the weekend.

Stocks that moved lower:

FuelCell Energy sank as its Q2 results showed widening net losses and a year-over-year revenue decline.
Apple slipped as investors appeared underwhelmed by its latest attempt to integrate AI and Siri.

ChatGPT failed to kill Google Search

With Google’s multibillion user moat and deep pockets, it’s thriving despite OpenAI’s first-mover advantage. Read more.

The number of Tesla Robotaxis on the road has been going down

That’s the wrong direction for a business trying to scale its autonomous vehicles.

Read more.

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion. Read more.

London’s robotaxi war is “months” away as Uber opens waitlist to battle Alphabet’s Waymo
Uber users can now sign up to be paired with a Wayve robotaxi when the service launches in London.
Last night’s Tony Awards were a curtain call for a record-smashing season on Broadway
This year’s star-studded theater awards wrapped up the highest-grossing season Broadway’s ever seen.

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