Public Markets 3 Days

Last updated: June 9, 2026, 11:34 AM ET

Market Overview & Equities

US stocks extended gains for a second day Tuesday, with chipmaker shares including Nvidia Corp. leading a broad advance as the market recovered from recent volatility. Despite this rally, JPMorgan traders have become more cautious toward US equities following last week's selloff, though the firm still believes stocks have further room to run as corporate earnings growth underpins sentiment. Analysts at Citi warned that aggressive short-selling positions in US stocks and stretched bullish wagers on the tech sector are putting the market at risk, particularly after the recent turbulence that caught leveraged Korean traders off guard. Meanwhile, small business optimism in the US fell to its lowest level since October 2024, erasing almost all gains seen since President Donald Trump's election, potentially signaling economic headwinds that could weigh on consumer spending.

Energy Markets

Oil prices eased after Israel and Iran agreed to halt attacks against each other, easing fears of a broader regional conflict that had briefly driven crude higher. This development helped crop and fertilizer markets wipe out the Iran war risk premium that had swept through commodities, as fears of prolonged supply disruptions fade. Kuwait is offering crude to Asian buyers for the first time since the Iran war started, indicating rising oil flows through the Strait of Hormuz, while China's oil imports slumped to an eight-year low last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels. In natural gas markets, prices pulled back as weather forecasts shed some heat for the second half of June and LNG exports were held back by maintenance. Despite recent volatility, oil prices have defied predictions of a summer supply crunch, staying below $100 a barrel as China's import cuts helped eke out global stockpiles.

Central Banking & Policy

Indonesia's central bank delivered an off-cycle rate hike to shore up the rupiah after a selloff in stocks and bonds fueled capital outflows, with analysts suggesting further tightening may be needed to shield the currency and curb market volatility. Kenya's central bank left its benchmark interest rate unchanged for the second time in a row, as it monitors the impact of the ongoing conflict in Iran on the economy. France's central bank will increase its projection for consumer-price gains this year due to the Iran war, according to Governor Emmanuel Moulin. Meanwhile, the National Federation of Independent Business reported that US small-business optimism fell 0.6 points to 95.3 in May, remaining below its 52-year average of 98.0. In Europe, big-name investors are staking out a contrarian stance before Thursday's European Central Bank meeting, with some anticipating "one and done" rate cuts despite broader market expectations for more easing.

AI & Technology

Broadcom announced it will partner with Apollo Global Management and Blackstone's credit and insurance business to launch a platform backed by an initial $35 billion to finance artificial-intelligence infrastructure projects. OpenAI is testing investor appetite for another giant IPO, with some analysts wondering whether the market can absorb the artificial intelligence giant's planned stock offering along with those of SpaceX and Anthropic. Markets are preparing for the arrival of Elon Musk's multiplanetary, AI-infused version of General Electric, with several university endowments positioned to benefit significantly from the SpaceX IPO. Uber-backed Wayve, the UK-based autonomous driving software startup, is considering letting investors sell shares through the country's new private securities market as the AI sector continues to attract substantial capital. The recent earnings strength in US stocks has been fueled by corporate profits rather than rising valuations or speculative fervor