News Bulletin
Friday, June 26, 2026
Morning Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Friday, June 26, 2026
8:30	Retail Inventories Ex Auto (May)			0.60%
8:30	Goods Trade Balance (May)		-85.00B	-83.01B
10:00	Michigan Consumer Sentiment (Jun)		48.90	44.80
10:00	Michigan 5-Year Inflation Expectations (Jun)		3.40%	3.90%
10:00	Michigan Consumer Expectations (Jun)		49.30	44.10
13:00	U.S. Baker Hughes Oil Rig Count			433.00
13:00	U.S. Baker Hughes Total Rig Count			563.00

Indices

	CLOSE	50 DMA	200 DMA
DJIA	51,920.93	50,226.35	48,280.14
NASDAQ	25,358.60	25,717.28	23,589.90
S&P 500	7,357.68	7,366.56	6,926.01

Earnings Calendar:

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

NIL

Market News:

S&P 500, and Nasdaq futures slipped on Friday, with tech shares eying more losses after a report said OpenAI could delay its public market debut to 2027.

Wall Street was also headed for weekly losses after technology shares clocked sharp declines this week. Apple weighed on Wall Street on Thursday after it hiked the prices of several devices due to surging memory costs.

S&P 500 Futures fell 0.3% to 7,331 points by 04:45 ET (08:45 GMT). Nasdaq 100 Futures slid 0.9% to 29,460 points, while Dow Jones Futures gained 0.1% to 52,386.0 points.

Reports of a fresh attack on a cargo vessel in the Strait of Hormuz spurred concerns over whether a tenuous U.S.-Iran peace deal will hold. Oil prices clocked some gains on Thursday but remained at pre-war levels.

Tech set for losses after report on OpenAI IPO delay

Outsized losses in Nasdaq futures pointed to further weakness in tech shares.

The New York Times reported that OpenAI is considering postponing its initial public offering until 2027, later than earlier expectations it would debut in public markets before end-2026.

The news cast immediate doubt on the public market’s appetite for high-flying AI stocks. The combination of sky-high valuations, and massive, debt-funded capital expenditure - with little tangible return on investment yet to show for it is forcing a sweeping reassessment of the entire sector.

Asian shares with exposure to OpenAI fell sharply on Friday. SoftBank Group Corp. (TYO:9984), which is heavily exposed to the artificial intelligence startup, slid 13% in Japanese trade, while Samsung Electronics Co Ltd (KS:005930) and SK Hynix Inc (KS:000660)-- both of which have tie-ups with OpenAI-- slid between 4% and 6%.

The prospect of an OpenAI delay dealt a heavy psychological blow to investors, coming on the heels of major milestones in the tech pipeline. The market had been building momentum after Elon Musk’s SpaceX shattered records with its blockbuster June public debut.

Tech valuations, already stretched after a blistering run‑up this year, looked vulnerable as the prospect of higher borrowing costs loomed large.

Rising interest rates tend to weigh on growth stocks by eroding the present value of future earnings, while also raising the cost of issuing debt to fund capital‑expenditure programs.

For cash‑hungry chipmakers and platform companies, that dynamic threatens to cool investor appetite just as balance sheets face heavier financing needs.

Nasdaq, S&P 500 head for weekly losses on tech rout

The NASDAQ Composite and the S&P 500 were set to lose 4.4% and 1.9%, respectively, this week, after technology stocks logged sharp losses on uncertainty over AI spending and rising interest rates.

The Dow Jones Industrial Average was trading up 0.7% this week as volatility in tech saw investors pivot into more defensive sectors, such as healthcare and utilities.

While tech did recoup some of its declines on Thursday– especially after Micron sparked a broad rally in chipmaking stocks– it was still hampered by losses in big tech shares.

Apple Inc (NASDAQ:AAPL) slid 6.1% after it raised prices for its iPads and Macbooks to offset surging memory chip costs due to the AI industry.

Micron Technology Inc (NASDAQ:MU), on the other hand, surged nearly 16%, underpinning a 3.6% rise in the Philadelphia Semiconductor Index.

Micron’s rally and broader losses in tech highlighted a growing trend where chipmakers are emerging as the clearest winner of the AI trade, while other sectors– such as consumer electronics and software firms– will be left to foot the bill.

PCE inflation in line with expectations, rate jitters persist

Exacerbating the retreat from growth equities was a stark macroeconomic reality check. Fresh data confirmed that U.S. inflation crossed the 4% threshold for the first time in three years.

The print injected fresh urgency into the hawkish narrative surrounding the Federal Reserve. Markets have been forced to quickly reprice expectations under a central bank that has shown an explicit inclination toward tightening to combat sticky energy costs and robust core pricing.

According to the CME FedWatch Tool, traders have solidified their positions, pegging the odds of an imminent 25-basis-point interest rate hike at 64% in September.

Investors find themselves caught between exceptionally strong pockets of micro-performance - exemplified by Micron’s AI data center growth - and a macroeconomic environment defined by high borrowing costs and sticky consumer inflation.

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