June 11, 2026

Markets:

U.S. equity futures gained on Thursday, boosted by a rebound in chip stocks after recent pressure, but those gains were capped as oil prices rose as U.S.-Iran tensions ramped up.

West Texas Intermediate crude futures rose nearly 1% to trade around $90 a barrel after President Donald Trump said in a post on Truth Social that the U.S. will be attacking Iran “VERY HARD TONIGHT.” He also said, “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets.”

This comes after U.S. Central Command forces launched more “self-defense strikes” against Iran late Wednesday, according to Centcom’s post on social media platform X. The attacks came at the direction of Trump, according to the post.

Micron Technology, Advanced Micro Devices and Intel rebounded in premarket trading, and the iShares Semiconductor ETF gained 3%. The chip ETF was under pressure again this week following a 10% drubbing on Friday that’s called many investors to question whether the parabolic move in the sector was over. Intel was upgraded by Bank of America from underperform to buy on Thursday and the shares responded with a 5% premarket gain.

The chip rebound came as enthusiasm builds ahead of SpaceX’s debut on Friday, which could highlight the expected growth in the AI buildout ahead. Although some traders believe the recent chip weakness is due to investors selling the stocks in their portfolios to make room for the IPO, which will be the largest debut ever at a roughly $1.8 trillion valuation.

Portfolio:

We enter today's session holding positions in CPSH & WOLF..

As the market works through this shakeout, we're intentionally staying light on exposure. The goal is not to force trades during uncertainty—it's to preserve capital and be ready to go on the offensive when the opportunity presents itself. While red days are never fun, they're a necessary part of a healthy market cycle. This type of price action is often what sets the stage for the next major move higher.

Take note of what MRVL's CEO recently said:

"Last time I said custom silicon was going to double year-over-year. It's going to more than double."

They are telling you exactly what is happening. The AI infrastructure buildout continues. Don't fight the trend, embrace it.

Now we need to get through the SpaceX IPO tomorrow and continue to see tensions with Iran de-escalate, which appears to already be underway. Markets need time to digest news, reset positioning, and establish the foundation for the next leg higher.

This is where discipline matters most. Too many traders lose patience during these periods, allowing frustration and emotion to dictate decisions. The biggest opportunities often come to those willing to wait.

Nothing has changed about the summer outlook.