News Bulletin
Tuesday, June 23, 2026
Morning Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Tuesday, June 23, 2026
8:15	ADP Employment Change Weekly			25.50K
9:45	S&P Global Services PMI (Jun)		51.10	50.70
9:45	S&P Global Manufacturing PMI (Jun)		54.60	55.10
9:45	S&P Global Composite PMI (Jun)			51.50
13:00	2-Year Note Auction			4.07%
16:30	API Weekly Crude Oil Stock			-8.330M

Indices

	CLOSE	50 DMA	200 DMA
DJIA	51,712.53	50,008.46	48,185.00
NASDAQ	26,166.60	25,619.27	23,552.00
S&P 500	7,472.97	7,342.13	6,913.22

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
FedExFDX:US		5.96		23.54B	$85.77B	PM
CarnivalCCL:US		0.46		6.68B	$27.61B	AM
Kb HomeKBH:US		0.8		1.26B	$4.00B	PM
Korn Ferry InternationalKFY:US		1.37		732.67M	$3.17B	AM
Worthington IndustriesWOR:US		1.13		368.31M	$2.53B	PM

Market News:

U.S. stock index futures fell sharply on Tuesday, with technology shares again bearing the brunt of the sell-off amid a broader rout in artificial intelligence and chipmaking sectors.

By 0515 ET, S&P 500 Futures slid 1.36% to 7,371.6 points. Nasdaq 100 Futures tumbled nearly 2.6% to 29,859.25 points, while Dow Jones Futures fell 0.7% to 51,769 points.

Tech eyes deeper losses after Asian chipmaking rout

U.S. technology shares are sliding in premarket trade, with heavyweights from Nvidia to Broadcom under pressure as investors reassess the crowded artificial‑intelligence trade.

After months of exuberance, questions are mounting over whether sky‑high valuations can be justified without tangible returns from the massive capital‑expenditure plans that companies have touted.

The AI boom has drawn in nearly every corner of the market, but traders are now demanding proof that the billions poured into data centers, chips, and infrastructure will translate into earnings growth.

"Investors increasingly recognise the crowding and ’same bus’ dynamic, and many are beginning to question how much upside remains versus risk," UBS analysts said.

"Some hedge fund investors have begun trimming exposure. The risk that capex upgrades abate as activity reaches a ‘speed-limit’, leaving a lack of revisions in the supply chain and expensive, crowded positions vulnerable to underperformance."

In Asia, Samsung Electronics and SK Hynix-- which have headlined Asian chipmaking gains so far this year-- slid between 8% and 11%.

At the same time, the macro backdrop has turned less forgiving. Markets are scrambling to reprice a more hawkish Federal Reserve, with Fed fund futures now pointing to two rate hikes this year instead of one.

Elevated yields are weighing on growth stocks, amplifying the pressure on tech names that had been the poster children of 2026’s rally.

For investors, the combination of stretched multiples and tighter policy leaves little margin for error, setting the stage for a more volatile stretch as the AI narrative collides with monetary reality.

Eonomic data on tap

A host of key economic prints are also on tap this week, as are quarterly earnings from logistics giant FedEx Corporation (NYSE:FDX).

Purchasing managers index data for June is due on Tuesday, followed by revised first-quarter gross domestic product data and a PCE price index reading on Wednesday.

The PCE data will be closely watched for more rate cues, given that it is the Fed’s preferred inflation gauge.

Wall St mixed as Alphabet falls on AI talent exodus, SpaceX loses steam

Wall Street clocked a mixed session on Monday, following a long weekend.

The S&P 500 fell nearly 0.4%, the Dow Jones Industrial Average rose 0.3%, and the NASDAQ Composite lagged with a 1.3% slide.

The Nasdaq was pressured chiefly by losses in Alphabet Inc (NASDAQ:GOOGL), which slid nearly 5% after two high-profile artificial intelligence executives left the company within the span of a few days.

SpaceX (NASDAQ:SPCX) was also a major decliner, tumbling about 16% as it reversed course from a strong initial public offering and market debut earlier this month.

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