June 8, 2026

Markets:

Nasdaq and S&P 500 futures were higher early Monday as chip stocks rebounded from Friday’s rout and President Donald Trump tried to maintain a fragile ceasefire despite Iran and Israel trading strikes.

S&P 500 futures and Nasdaq 100 futures were up 0.6% and 1.2%, respectively. Futures tied to the Dow rose 108 points, or 0.2%.

Shares of Micron Technology, the memory chipmaker that’s led the latest leg of the bull market, were up more than 5% in premarket trading after falling 13% on Friday. Shares of Nvidia and Broadcom were also higher.

The Nasdaq Composite dropped 4.2% on Friday, its worst drop since April 2025 as investors took profits on chip stocks on concern the shares had gone too far given the uncertain economic backdrop. The iShares Semiconductor ETF was nearly 4% higher in early trading Monday after plunging 10% on Friday, its worst day in more than six years.

Asia-Pacific markets tanked Monday in response to the Nasdaq drop Friday, with South Korea’s benchmark Kospi leading declines, falling more than 8% to end at 7,484.41. Japan’s Nikkei 225 dropped 3.85% to 64,024.6.

Marvell Technology was up almost 9% in premarket trading on Monday after it was announced that the AI chipmaker would be joining the benchmark S&P 500 index.

Portfolio:

We begin the week holding one position in NOWL.

Right now, it appears the bears are becoming increasingly trapped, and every push higher is only adding more pressure to that side of the trade.

Adding fuel to the move, NVIDIA CEO Jensen Huang made bullish comments over the weekend, calling the recent pullback in semiconductor stocks a buying opportunity and reiterating that we're still in the early stages of the AI revolution.

One of the defining characteristics of this market has been its incredible efficiency. What used to take months to correct can now be accomplished in a matter of days. We've seen three-month-style corrections compressed into just a few trading sessions, followed by a rapid return to all-time highs.

Understand the environment we're in.

The setup continues to point toward a potentially historic summer for growth, AI, and semiconductor names.

The Summer of Summers is building.