BREAKING: Futures Loom As U.S.-Iran Talks Begin
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Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures after a holiday weekend. The U.S. and Iran on Sunday began talks on a permanent peace deal with the current status of the Strait of Hormuz unclear.
The stock market rebounded last week, though the gains were concentrated in chips and AI-related plays, along with biotechs. SpaceX ( SPCX) rose, but fell sharply from Tuesday's record highs.
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Stocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
NOW PLAYINGStocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
Nvidia ( NVDA), MaxLinear ( MXL), Microchip Technology ( MCHP), FormFactor ( FORM) and Macom Technology Solutions ( MTSI) are five chip names near early entries in bases or emerging consolidations.
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Stocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
Ken Shreve and Ed Carson walk through the week’s market action and discuss key stocks to watch in Stock Market Today.
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Stocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
Ken Shreve and Ed Carson walk through the week’s market action and discuss key stocks to watch in Stock Market Today.
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Stocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
NOW PLAYINGStocks Bounce To Close Out Wild Week; Vertiv, MaxLinear, SpaceX In Focus
Micron Technology ( MU), FedEx ( FDX) and its new spinoff FedEx Freight ( FDXF) report earnings this coming week. Micron earnings will be a huge report for memory plays, chip-gear suppliers and the broader AI ecosystem. FedEx and FedEx Freight will give a sense of economic activity amid high fuel prices and how it might respond to cooling energy costs.
The video embedded in the article reviews the weekly market action and analyzes Vertiv ( VRT), MaxLinear and SpaceX stock. Nvidia stock and Vertiv are on Leaderboard. Micron stock is on the IBD 50.
Dow Jones Futures Today
Dow Jones futures lost 0.2% as of their Friday afternoon close. S&P 500 futures and Nasdaq-100 futures also fell 0.2%. Futures will reopen at 6 p.m. ET Sunday.
Crude oil futures rose more than 1% on Friday after Iran delayed peace talks. That followed huge drops in recent weeks.
U.S. stock markets were closed Friday for the Juneteenth holiday but other exchanges around the world were open.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
U.S.-Iran Talks Begin
U.S.-Iran peace talks reportedly have begun in Switzerland, after Iran delayed talks due to fighting in Lebanon between Israel and Hezbollah. Vice President JD Vance is leading the U.S. delegation. The U.S. and Iran signed a memorandum of understanding on Wednesday, with 60 days to reach a final agreement on key issues.
The MOU immediately opened up Hormuz. On Saturday, Iran said that it's closed the Strait of Hormuz, citing ceasefire violations. However, U.S. Central Command said 55 commercial ships went through Hormuz that day. Three India-tied supertankers exited the Strait on Sunday, though they may have taken a Tehran-approved route.
Five Stocks Near Buy Points. Most Are In This Hot AI Space.
Stock Market Rally
The stock market rally had another volatile week. Monday's gap-up on the Iran deal was largely erased by Wednesday's close, with the S&P 500 and Nasdaq back below their 21-day moving averages. But they and the indexes rebounded on Thursday.
The Dow Jones Industrial Average climbed 0.7% in last week's stock market trading, hitting a record high intraday Wednesday. The S&P 500 index climbed 0.9%. The Nasdaq composite jumped 2.4%. The small-cap Russell 2000 gained 1.2%, finishing the week at a closing high.
universal chart
NASDAQ Composite Index(COMP)
$26517.93
496.28
1.91%
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0ndqc
Date2017-07-02
High6177.36
Low6081.96
Last6153.08
Chg+12.66
Vol6,647,373,268
volume
Provided by Nasdaq Last Sale.
Last update:
Real-time quote and/or trade prices are not sourced from all markets.
06/18/2026 (Market Close)
Chips and AI stocks were particularly strong, notably AI energy names such as Bloom Energy ( BE) and GE Vernova ( GEV). Biotechs were big winners, fueled by an FDA U-turn regarding a UniQure ( QURE) drug approval application.
The Invesco S&P 500 Equal Weight ETF ( RSP) sank 0.8% after hitting a record high Monday. The Direxion Nasdaq-100 Equal Weighted ETF ( QQQE) gained 1.7% for the week, after setting an all-time best on Tuesday.
The 10-year Treasury yield fell 3.5 basis points to 4.45%. But the two-year yield climbed nine basis points to 4.18%.
U.S. crude oil futures fell 9.75% to $76.60 a barrel this past week.
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ETFs
Among growth ETFs, the CapForce IBD 50 ETF ( FFTY) jumped 3.9% last week. The iShares Expanded Tech-Software Sector ETF ( IGV) sank 1.8%. The VanEck Vectors Semiconductor ETF ( SMH) shot up 6.4%. Nvidia stock is the No. 1 SMH holding, with Micron No. 3. Microchip Tech is also in the ETF.
ARK Innovation ETF ( ARKK) bolted 6% higher last week and ARK Genomics ETF ( ARKG) spiked 10.1%
SPDR S&P Metals & Mining ETF ( XME) declined 2.8% last week. The Energy Select SPDR ETF ( XLE) dived 6.6% and the Health Care Select Sector SPDR Fund ( XLV) fell 2.9%. The Industrial Select Sector SPDR Fund ( XLI) gained 2.7%, with big-weight GE Vernova a key contributor. FedEx and FedEx Freight are also in XLI. The Financial Select SPDR ETF ( XLF) rose 0.4%.
Best Growth Stocks To Buy And Watch
SpaceX Stock
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SpaceX(SPCX)
$185.00
6.82
3.56%
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spcx
volume
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Real-time quote and/or trade prices are not sourced from all markets.
06/18/2026 (Market Close)
SpaceX stock vaulted 14.9% to 184.98 for the week. That's after hitting a record 225.64 intraday Tuesday, but Elon Musk's space company did come off Thursday's intraday lows. Shares are still 37% above the $135 offering price. SPCX stock could be starting to forge an IPO base, but it's far too early to tell. IPO base breakouts can deliver huge gains, but IPO breakout failures can be enormous.
Nvidia, These Chip Stocks Are Setting Up
Nvidia stock rose 2.7% to 210.69 for the week, bouncing back to just above the 50-day and 21-day moving averages. A decisive move above those key levels could offer an early entry for the AI chip giant, perhaps using the June 15 high of 212.71 as an early entry. Nvidia stock could have a base in another week, likely a double-bottom pattern with a 232.28 buy point.
MaxLinear stock vaulted 401% from its April 13 breakout to its May 11 peak of 104.27 amid massive volume. Shares have consolidated since then, finding support at the 10-week line earlier this month. MaxLinear jumped 5.1% to 88.76 for the week. MXL stock now has a messy base with a 104.27 buy point. Investors could use the June 16 high of 94.80 as an early entry, or a trendline for a slightly lower buy point.
universal chart
MaxLinear(MXL)
$88.76
5.89
7.11%
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MXL
Date2024-08-07
High12.01
Low11.08
Last11.10
Chg-0.41
Vol891,246
volume
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Last update:
Real-time quote and/or trade prices are not sourced from all markets.
06/18/2026 (Market Close)
Microchip Technology stock gained 4.8% to 99.77 for the week after rebounding from the 50-day and 10-week lines in the prior week. MCHIP stock now has a new base with a 105.91 buy point. Investors could use Tuesday's high of 101.93.
FormFactor gained 7.4% to 149.55, working on a 159.09 base buy point, according to MarketSurge. Shares could be forging a handle, with Tuesday's high of 154.76 already an early entry.
Macom Technology stock climbed 3% to 391.41 for the week, rebounding off the 21-day line on Friday. MTSI stock needs a couple more weeks to forge a new base after a prior uptrend. The potential buy point is 418.90, but investors could use the June 15 high of 399 as an early entry.
Stock Market Forecast For Next Six Months: Why More Gains May Lie Ahead
What To Do Now
The stock market is showing strength, with growth plays in the AI and biotech space leading. A number of stocks flashed buy signals, with a number of proto-bases trying to develop.
Investors can add exposure. Just be aware that market swings add to the volatility of stocks with high average true ranges. Those are the names showing the most strength once again.
Micron earnings should be powerful, but expectations are sky high.
So investors should remain bullish about the overall rally, but not reckless. Cut losers and laggards even as other holdings do well. Look for emerging setups and bases.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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