This content was published on
June 8, 2026 - 14:36
6 minutes
(Bloomberg) — US stock futures staged a rebound, bringing a rout in technology stocks to a halt even as flaring tensions in the Middle East sent oil prices higher.S&P 500 contracts rose 0.8% while those for the Nasdaq 100 climbed 1.5%. Brent jumped as much as 5.4% after Israel retaliated against Iranian missile attacks. The advance eased after Fars reported that Iran’s military operation against Israel had ended, with the benchmark trading around $94.70 a barrel.Treasuries trimmed their losses, leaving the 10-year yield little changed at 4.53%. The dollar dropped 0.2%. Bitcoin extended its recovery above $60,000 after Strategy Inc. Chairman Michael Saylor hinted at further purchases of the cryptocurrency.Investors are starting the week grappling with fighting in the Middle East, inflationary pressures that are bolstering the case for interest rate hikes and persistent worries over whether the rally in tech stocks has run too far. A flood of new shares from companies looking to fund their AI ambitions is also raising questions about whether there will be enough buyers to soak them all up.“There are three key potential risks to stock markets at the moment — Hormuz remaining closed, inflation and rates rising faster than expected and investors taking profits in assets which have performed spectacularly well,” said Michael Bell at RBC Bluebay Asset Management. “Some hedges and diversification against all three risks probably make sense.”Chipmakers that were the hardest hit in Friday’s selloff attracted dip buyers in premarket trading. Marvell Technology Inc. rose 8.4% while Micron Technology Inc. advanced 6.7%. Nvidia Corp. led gains among the Magnificent Seven heavyweights.Israel and Iran earlier exchanged missile strikes despite President Donald Trump’s calls for both sides to stop fighting. The exchange is one of the most serious tests of a ceasefire that took effect on April 8 to halt fighting involving the US, Israel and Iran.Trump said final negotiations for a peace deal were proceeding and that “things should move quickly.”CPI TestAs traders get ready for two weeks packed with event risk, they are likely to remain cautious ahead of Wednesday’s release of US inflation data for May. The consumer price index is expected to jump by 4.2% from a year earlier — the highest rate in more than three years.The European Central Bank is widely seen to raise rates Thursday for the first time since 2023. After that, attention will turn to Kevin Warsh’s first meeting as governor of the Federal Reserve next week. Interest-rate swaps indicated traders expect at least one quarter-point Fed hike by December.“I’d expect dip buyers to be patient, not quick,” said Hassan Raza, portfolio manager at CG Asset Management. “Nobody wants to be long ahead of a CPI print that confirms energy is bleeding into core.”Morgan Stanley strategists led by Mike Wilson said the selloff in US stocks was “inevitable and ultimately healthy” if the rally is going to continue into the end of the year.His optimism was echoed by Citigroup Inc. strategists led by Scott Chronert, who raised their year-end target for the S&P 500 by 9.7% to 8,100 after a “big step up” in earnings expectations.“Event risks haven’t broken the dip-buying instinct, and that’s unlikely to change this week in the absence of a fresh catalyst,” said Laura Cooper, global investment strategist and head of macro credit at Nuveen. “US growth is tracking firm, and we’re coming off one of the strongest earnings seasons in recent years.”Corporate Highlights:Nvidia Corp. Chief Executive Officer Jensen Huang called a global tech stocks selloff that began last week a buying opportunity, saying the buildout of artificial intelligence has just begun. Intesa Sanpaolo SpA offered to buy Banca Monte dei Paschi di Siena SpA for €30.6 billion ($35.3 billion) in a move that’s set to spur a new phase of dealmaking in Italian finance. Network equipment supplier Ciena Corp. is planning to raise $2 billion by issuing debt that can be converted into shares. Bending Spoons, which owns digital applications like Vimeo, Evernote and AOL, filed for an initial public offering, joining a string of European tech companies seeking US listings. Ingredion Inc. agreed to buy Tate & Lyle Plc for £2.7 billion ($3.6 billion), in a move that marks the end of the UK company’s near-century on the London Stock Exchange. Nvidia and Hyundai Motor Group agreed to deepen their alliance to turn so-called physical AI and robotics into real industrial products. Some of the main moves in markets:StocksS&P 500 futures rose 0.8% as of 8:34 a.m. New York time Nasdaq 100 futures rose 1.5% Futures on the Dow Jones Industrial Average rose 0.3% The Stoxx Europe 600 was little changed The MSCI World Index fell 0.2% CurrenciesThe Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.1% to $1.1538 The British pound was little changed at $1.3354 The Japanese yen rose 0.2% to 159.96 per dollar CryptocurrenciesBitcoin rose 2.1% to $63,172.49 Ether rose 3.2% to $1,679.64 BondsThe yield on 10-year Treasuries was little changed at 4.53% Germany’s 10-year yield was little changed at 3.04% Britain’s 10-year yield was little changed at 4.91% CommoditiesWest Texas Intermediate crude rose 1.4% to $91.77 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.–With assistance from Neil Campling, James Hirai and Subrat Patnaik.©2026 Bloomberg L.P.
