Market Summary - June 25, 2026

The trading session on Wall Street experienced significant volatility, particularly within the technology sector, as the NASDAQ 100 faced declines nearing 3% at the start of the day. However, selling pressure eased, leading to a reduction in losses across major indices. By the end of the session, the US100 index was down approximately 1.24%, while the US500 and US2000 indices showed more resilience, with minor declines of about 0.6% and 0.2%, respectively.

Market Dynamics

The divergence in performance among indices indicates concentrated market concerns, particularly surrounding hyperscale and Software as a Service (SaaS) companies, which constitute over half of the major indices. JPMorgan highlighted a trend of deleveraging among retail investors, especially in technology stocks.

Market sentiment regarding the conflict in Iran appears to have stabilized, with expectations of a final agreement by August 21, contributing to a more optimistic outlook.

Key Earnings Reports

Micron Technology (MU.US)

Micron reported exceptional earnings, with revenues reaching USD 41.46 billion and earnings per share (EPS) of USD 25.11, marking a more than 100% increase from the previous quarter and exceeding market expectations by over a dozen percent. Initially, the stock surged by 20% at the open but later moderated to a 10% increase as trading progressed. However, concerns arose regarding the sustainability of memory price increases, which could pressure investment budgets for hyperscale companies.

Qualcomm

Qualcomm's stock rose by 8% following its forecast of USD 15 billion in sales from its data-center segment, reflecting positive sentiment in the semiconductor sector.

BlackBerry (BB.US)

BlackBerry provided optimistic year-end guidance, leading to a 7% increase in its stock price, buoyed by anticipated infrastructure spending.

Wendy’s (WEN.US)

Wendy’s stock rose approximately 10% as it rebounded from valuation lows, driven by retail buying and optimism surrounding its status as a "meme stock."

Apple (AAPL.US)

Apple's stock fell about 5% after the company announced price hikes for its products due to significant shortages of memory chips, which are competing with AI data centers for supply, raising concerns about potential margin pressures and lower sales.

Macroeconomic Overview

In macroeconomic news, the Personal Consumption Expenditures (PCE) inflation rate rose to 4.1%, aligning with market expectations. Core PCE inflation remains significantly lower and has stabilized, suggesting that the price increases may be temporary. Additionally, US GDP for Q1 grew by 2.1%, surpassing the expected 1.6%, while wages and personal spending increased by 0.7%. Jobless claims remained above 200,000 but were below expectations, although concerns linger regarding consumer spending and durable goods orders, which fell short of forecasts.

European Market Performance

European indices posted moderate gains, primarily driven by a decline in oil prices, with increases ranging from 0.5% to 1.2%. The German index (DE40) led the gains with over a 1.2% rise. The positive sentiment in the semiconductor sector also influenced European stocks, with ASML Holding and Infineon Technologies rising by about 3%.

Spain's economic growth matched market expectations at 2.7% year-on-year.

Forex and Commodities

In the foreign exchange market, the British pound gained approximately 0.2% against the dollar and yen, influenced by political developments following Keir Starmer's resignation. The Australian and New Zealand dollars also appreciated by about 0.2% against the USD, following unexpected employment growth in Australia.

In commodities, cocoa prices surged nearly 5% due to concerns over upcoming harvests in West Africa. Oil prices saw slight gains, with Brent crude returning to USD 75 per barrel, supported by a significant drop in US oil inventories despite geopolitical tensions in Iraq. Industrial metals, particularly copper, rose by 2%, while silver gained over 1% among precious metals.

Cryptocurrency Market

The cryptocurrency market exhibited signs of weakness, with Bitcoin falling below USD 60,000, Ethereum dropping more than 3% to around USD 1,560, and Solana declining to USD 66.

Conclusion

The trading session on June 25, 2026, highlighted the complexities and volatility of the current market environment, particularly within the technology and semiconductor sectors, while macroeconomic indicators provided mixed signals regarding the overall economic outlook.