Market Summary - June 10, 2026
US Inflation and Market Response
The Consumer Price Index (CPI) inflation for May reached 4.2%, the highest level since April 2023. Despite this increase, the core inflation measure rose only by 0.2%, which has led to a weakening of the US dollar and provided a slight reprieve for the US stock market. After initially opening with declines of 0.5%, both the NASDAQ Composite and the S&P 500 indices are now hovering just below the flatline.
Market Sentiment and Risk Aversion
In recent days, there has been a noticeable increase in risk aversion among US investors. This sentiment may be influenced by ongoing geopolitical tensions in the Middle East and the upcoming SpaceX IPO scheduled for Friday. However, the recent attacks related to the US-Iran situation have not led to significant market reactions, as evidenced by the limited rise in crude oil prices, with Brent crude trading just under $93 per barrel.
Stock Performance Highlights
Top Decliners
- Super Micro Computer (SMCI.US): Shares fell by 12.5% following news of plans to raise $7 billion through a large share issuance to finance AI server orders worth nearly $39 billion.
Top Gainers
- Cracker Barrel (CBRL.US): Shares surged by 26% after the company raised its full-year revenue forecasts, exceeding analyst expectations.
- Oscar Health (OSCR.US): Shares increased by 4% following an upgrade from Barclays, citing a visible margin recovery cycle.
- Dianthus Therapeutics (DNTH.US): Shares dropped by 14% after rival Sanofi halted late-stage trials for an experimental therapy due to efficacy concerns.
Technical Analysis of US100 Index
The US100 index has entered a correction phase after a strong upward trend. It has broken below a short-term ascending channel, indicating a potential weakening trend. The market is currently testing a support zone at 28,645 points, which aligns with the 23.6% Fibonacci retracement level. The EMA50 is also near 28,338 points, providing additional support. The RSI is around the 50 level, suggesting a lack of clear market advantage, while the MACD indicates a sell signal, reflecting a fading upward momentum.