June 18, 2026

After Wednesday's Fed inspired selloff, investors were back to what's been working today bidding up AI-related and semiconductor stocks. Economic data saw Initial Jobless Claims ease 3k to 226k, while Continuing Claims rose 24k. The Philadelphia Fed Manufacturing Index came in at 10.3 vs. 9.8 estimated. The different indexes rallied at the open with semiconductors outperforming led by a +10.75% spike in Intel (INTC) after President Trump said the company would partner with Apple (AAPL) on designing new chips. The Philadelphia Semiconductor Index soared +6.42%, to another record high. Five of 11 sectors were higher led by a +3.04% jump in Technology (XLK), followed by gains in Consumer Discretionary (XLY) and Industrial (XLI). The DJIA rolled into the close up 72.15 points (+0.14%) at 51564.70, while the S&P 500 tacked on 80.48 points (+1.08%) and settled at 7500.58. The tech heavy NASDAQ jumped 496.28 points (+1.91%) finishing at 26517.93.

Breadth was positive with advancing issues beating declining issues 1.7:1 on the NYSE and 1.8:1 on the NASDAQ. Advancing volume was 51% on the NYSE and 75% of the NASDAQ. The VIX fell 2.40 (-11.06%) to 16.40. Crude oil prices eased 0.19 (-0.25%) and the July contract closed at $76.60 a barrel. Gold prices lost 146.20 (-3.34%) and finished at $4235.20 an ounce. Bitcoin (BTC) closed the session at $63,070.

Investors were on board with new Fed Chair Kevin Warsh's comments on price stabilization and short yields inched higher, while the longer bond eased lower. The US Dollar responded to a projected rate hike climbing to its highest level in a year. Global markets were higher this week and the US major averages advanced for a second straight week on the new peace deal. With tensions in the Middle East easing, we could see a broadening out of the market going forward.

The NYSE is closed on Friday for the Juneteenth holiday.

Earnings releases to watch for on Monday include: Outdoor Holding (POWW).

Monday's Market Moving Economic Calendar: T-Bill Auctions.

*Charts of the various market timing components can be found by going to the Market Edge Home page and clicking on 'Market At A Glance', which is located on the right-hand side of the page just below the 'Market Recap' section.

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