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Intel-Apple Chip Deal and Iran Peace Pact Lift Nasdaq to Record Highs
12 sources2 min read
Intel surges 10.6% on Apple chip partnership and Google TPU deal Intel jumped after President Trump announced Apple will partner with Intel for U.S. chip design and manufacturing, while Google also signed a contract for over three million custom TPUs starting in 2028. The moves lifted the broader semiconductor sector, with the Philadelphia Semiconductor Index rising 6.4%. 123
US-Iran peace deal eases inflation fears, oil hits 3.5-month low President Trump signed a 60-day ceasefire with Iran, reopening the Strait of Hormuz and sending crude oil to a 3.5-month low. The deal reduced inflation expectations and sparked risk-on sentiment, pushing the S&P 500 up 1.08% and the Nasdaq up 2.48% in a holiday-shortened week. 345
Iran threatens to close Strait of Hormuz again, citing ceasefire violations Iran announced plans to close the Strait of Hormuz in response to 'violations of the ceasefire,' citing Israeli attacks in Lebanon. The move threatens to reignite oil price volatility and undercut the Trump administration's peace deal narrative. 6
Marvell joins S&P 500 after KeyBanc upgrade and optics milestone Marvell Technology enters the S&P 500 on Monday after a 7.27% surge, following KeyBanc's price target hike to $385 and a milestone of shipping over five million coherent photonic ICs with Tower Semiconductor. The addition could trigger benchmark-linked inflows. 7
Astera Labs and Teradyne jump on Nasdaq-100 index inclusion Astera Labs rose 11.3% and Teradyne gained 7.2% ahead of their June 22 inclusion in the Nasdaq-100, driven by passive buying from index-tracking funds. Both companies benefit from AI infrastructure demand, with Astera reporting 93% revenue growth and Teradyne securing a multi-year Air Force contract. 89
JPMorgan CEO Dimon warns next credit crisis will be worse than expected JPMorgan posted record Q1 net income of $16.5 billion, but CEO Jamie Dimon warned that the next credit cycle will produce losses worse than anticipated, citing $5.1 trillion in leveraged finance and stagflation risks. Nonaccrual loans surged 53%. 10
Charles Schwab and Cboe to launch S&P 500 binary options contracts Charles Schwab is partnering with Cboe to offer yes-or-no binary options on the S&P 500, entering the prediction-market space. The contracts will feature a 'plus zone' for partial payouts, competing with Robinhood, Kalshi, and Polymarket. 11
Home Depot edges higher as housing data weighs on demand outlook Home Depot shares rose 2.1% to $334.28, but housing affordability pressure and upcoming new-home sales data on June 24 cloud the outlook. The company maintained its fiscal 2026 guidance with flat-to-2% comparable sales growth. 12
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