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Earlier this month, the time-honored Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and technology-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) all hit record-closing highs. Excitement for the artificial intelligence data center build-out has increased corporate growth forecasts and expanded valuation multiples to levels last seen in the late 1990s.

But Wall Street's historic rally may not be as rock-solid as it appears. The May inflation report, published by the Bureau of Labor Statistics on June 10, revealed significant headwinds for the stock market.

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While President Donald Trump doesn't appear worried about inflation, and has even changed his tune about rising prices, a historically expensive stock market definitely cares -- and that's a big problem.President Trump delivering remarks. Image source: Official White House Photo by Daniel Torok.

Inflation is soaring in the wake of the Iran war

Some degree of inflation is normal for a healthy economy. When businesses are firing on all cylinders, they should possess some level of pricing power for their goods and services. Since January 2012, the Federal Reserve has targeted a 2% long-term inflation rate.

While the Fed's long-term target is an arbitrary line in the sand, there does come a point where inflation becomes concerning and/or harmful. We've arguably reached that point, courtesy of two decisions from President Trump.

The president's decision to implement sweeping global tariffs has increased production costs for select domestic manufacturers. Adding duties to unfinished imported goods has modestly pushed up prices in the goods sector, according to now-former Fed Chair Jerome Powell.

However, the inflationary surge we've witnessed over the last three months is almost entirely tied to Trump's decision to attack Iran. Not long after military operations commenced on Feb. 28, Iran shut down the Strait of Hormuz to most commercial vessels. This action effectively halted the flow of approximately 20 million barrels of petroleum liquids per day and quickly sent crude oil prices soaring. Anyone who's visited a fuel pump over the last three months has felt the effects of the largest energy supply disruption in modern history.

The impact of the Iran war on the monthly U.S. inflation report has been pronounced. In February, trailing (TTM) 12-month inflation was only 2.4% and moving toward the Fed's 2% long-term benchmark. By May, TTM inflation had jumped to 4.2%, representing a three-year high.

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Although Donald Trump often criticized his predecessor, President Joe Biden, for a rapid rise in inflation following the worst of the COVID-19 pandemic, he seems to have now changed his tune. Despite inflation hitting a three-year high in May, Trump had this to say in response to a question about the latest inflation number:

No, I love it. The numbers were great. You know what I really love? I love the inflation.

The president, who praised better-than-expected job growth in May, has been adamant that once the Iran war ends, crude oil and energy prices will quickly fall. But this is unlikely to be the case.

Typically, energy supply shocks endure several stages, with the inflationary effects on businesses often delayed by a few months. Once the impact of higher transportation and production costs filters into non-energy sectors and industries, inflation could prove far stickier than the president claims.Image source: Getty Images.

A historically pricey stock market won't share the president's enthusiasm for inflation

The problem for Wall Street is that inflation is about far more than gas and diesel prices. It has real-world implications that can lead the Federal Open Market Committee (FOMC) to shift its stance on monetary policy.

Between September 2024 and December 2025, the FOMC lowered the federal funds target rate six times, bringing it to its current range of 3.5% to 3.75%. As of the FOMC's April 29 meeting statement, the 12-person body responsible for setting the nation's monetary policy still had its easing bias in place. But this could change as early as this coming week.

While the FOMC's April meeting statement showed three members opposed the inclusion of the easing bias, the Fed's April meeting minutes indicate that a majority of FOMC members want this statement removed. Shifting to a neutral bias would snuff out the possibility of additional rate cuts and be a first step toward possible rate hikes.

According to the CME Group's FedWatch Tool, the probability of an FOMC rate hike is soaring. There's a greater than 71% chance of the FOMC raising interest rates by the December 2026 meeting -- and that's terrible news for the stock market.

When 2026 began, Wall Street and investors were expecting several rate cuts. But the May inflation report, coupled with the April Fed meeting minutes, makes clear that rate hikes, not cuts, are more likely.

This presents a serious dilemma for Wall Street. Whereas the S&P 500's Shiller Price-to-Earnings (P/E) Ratio has averaged around 17.4 over the last 155 years, it came within a stone's throw of reaching 43 earlier this month. This is the priciest stock market we've witnessed since the months leading up to the bursting of the dot-com bubble. In other words, investors expect perfection, and there simply isn't much (if any) margin for error.

If the FOMC raises interest rates, financing the AI data center build-out becomes costlier. Higher interest rates also tend to put valuations into focus.

Ultimately, Donald Trump's 180 on inflation may result in a corresponding 180 for Wall Street's bull market.

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President Donald Trump Now Claims to "Love the Inflation" -- but Wall Street Doesn't, and That's a Big Problem was originally published by The Motley Fool

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What Happened?

Shares of computer processor maker Intel (NASDAQ:INTC) jumped 5.9% in the afternoon session after the market continued to digest the Bank of America double upgrade while the chip sector accelerated on continued Iran peace deal momentum.

Analyst Vivek Arya raised BofA's 2030 server CPU TAM to more than $170 billion from $125 billion, and now models Intel's earnings power at more than $6 per share by 2030, up from a prior $3–$4 range. The thesis is that agentic AI expands the CPU's role from supporting GPU clusters to orchestrating reasoning loops, memory state, and tool use.

On Intel's Q1 FY2026 call, CEO Lip-Bu Tan said the CPU-to-GPU mix has tightened from about 1:8 in training-heavy deployments to roughly 1:4, and could move toward parity or even tilt further toward CPUs as inference and agentic workloads scale.

On foundry, BofA values the external manufacturing opportunity at more than $45 billion by 2030. Tan said 18A yields are running ahead of internal projections, and that 14A maturity, yield, and performance are outpacing 18A at a similar stage.

CFO David Zinsner said demand continues to outpace supply across the business. Macro helped the session: after Trump called off planned strikes and pointed to a possible deal, oil fell sharply by roughly 3–4% and the 10-year Treasury yield eased from about 4.55% to the mid-4.40s, easing one of the pressure points on rate-sensitive chip multiples.

Is now the time to buy Intel? Access our full analysis report here, it’s free.

What Is The Market Telling Us

Intel’s shares are extremely volatile and have had 52 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 1 day ago when the stock gained 5.1% on the news that Bank of America issued a rare double upgrade that gave sell-side backing to the foundry story investors had been bidding up. BofA moved Intel to Buy from Underperform and raised its price target to $135 from $96.

Intel is up 218% since the beginning of the year, and at $125.25 per share, it is trading close to its 52-week high of $129.44 from May 2026. Investors who bought $1,000 worth of Intel’s shares 5 years ago would now be looking at an investment worth $2,152.

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GraniteShares

NEW YORK, June 12, 2026 (GLOBE NEWSWIRE) -- This announcement amends the effective date (or ex-date) previously circulated on June 08, 2026.

A forward split will apply to shareholders of record as of market close on June 24, 2026, payable after market close on June 25, 2026. The forward split will be effective prior to market open on June 26, 2026, when each Fund will begin trading at its post-split price. The ticker symbol and CUSIP number for each Fund will not change.

Fund Name Ticker CUSIP Forward Split Ratio Approximate increase in total number of outstanding shares GRANITESHARES 2X LONG DELL DAILY ETF DLLL 38747R 561 8 for 1 700 % GRANITESHARES 2X LONG INTC DAILY ETF INTW 38747R 553 8 for 1 700 % GRANITESHARES 2X LONG MU DAILY ETF MULL 38747R 678 25 for 1 2,400 % GRANITESHARES 2X LONG MRVL DAILY ETF MVLL 38747R 520 3 for 1 200 % GRANITESHARES 2X LONG NVDA DAILY ETF NVDL 38747R 827 3 for 1 200 % GRANITESHARES 2X LONG SMCI DAILY ETF SMCL 38747T 575 3 for 1 200 % GRANITESHARES 2X LONG VRTV DAILY ETF VRTL 38747R 512 3 for 1 200 %

As a result of the share split, shareholders of each Fund will receive additional shares as indicated in the table above, and the number of each Fund's issued and outstanding shares will increase by the approximate percentage indicated above.

The tables below illustrate the effect of hypothetical splits on a shareholder's investment.

3-for-1 forward split

Period # of shares owned Hypothetical NAV Total Market Value Pre-Split 10 US$ 300 US$ 3,000 Post-Split 30 US$ 100 US$ 3,000

8-for-1 forward split

Period # of shares owned Hypothetical NAV Total Market Value Pre-Split 10 US$ 200 US$ 2,000 Post-Split 80 US$ 25 US$ 2,000

25-for-1 forward split

Period # of shares owned Hypothetical NAV Total Market Value Pre-Split 3 US$ 1,000 US$ 3,000 Post-Split 75 US$ 40 US$ 3,000

The Trust's transfer agent will notify the Depository Trust Company ("DTC") of the forward split and instruct DTC to adjust each shareholder's investment(s) accordingly. DTC is the registered owner of a Funds' shares and maintains a record of each Fund's record owners.

The share splits will not result in a taxable transaction for holders of each Fund's shares. No transaction fees will be imposed on shareholders in connection with the share splits.

Media Contact GraniteShares, Inc. 250 Broadway, 24th Floor, New York, NY 10007 Phone: (844) 476-8747 Email: info@graniteshares.com Web: graniteshares.com

Important Information

Investors should consider the investment objectives, risks, charges and expenses of the GraniteShares funds (the "Funds") carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747, or visit the website at www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

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Except as described above regarding the liquidation of the ETFs, shares of the Funds may be sold during trading hours on the exchange through any brokerage account, shares are not individually redeemable, and shares may only be redeemed directly from a Fund by Authorized Participants. There can be no assurance that an active trading market for shares in a Fund will develop or be maintained. Shares may trade above or below NAV. Brokerage commissions will apply.

RISK FACTORS AND IMPORTANT INFORMATION

The Funds are not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Funds are designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if their Underlying Stock's performance is flat, and it is possible that the Funds will lose money even if their Underlying Stock's performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

The Funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The Funds attempt to provide daily investment results that correspond to the respective long leveraged multiple of the performance of their underlying stocks (a Leverage Fund).

Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds return as much as, or more than, the return of the underlying security.

Because of daily rebalancing and the compounding of each day's return over time, the return of each Fund for periods longer than a single day will be the result of each day's returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. Each Fund will lose money if the Underlying Stock's performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock's performance increases over a period longer than a single day.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETFs. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

An investment in the Funds involves risk, including the possible loss of principal. The Funds are non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps is subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates ©2026 GraniteShares Inc. All rights reserved. GraniteShares, GraniteShares Trusts, and the GraniteShares logo are registered and unregistered trademarks of GraniteShares Inc., in the United States and elsewhere. All other marks are the property of their respective owners.

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Check out the companies making headlines this week:

DraftKings (NASDAQ:DKNG): Fantasy sports and betting company DraftKings (NASDAQ:DKNG) rose by 5.7% on Wednesday after the company disclosed significant growth in its Predictions platform for the month of May. See our full article here.

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Intel (NASDAQ:INTC): Computer processor maker Intel (NASDAQ:INTC) rose by 12.1% on Monday after The Information reported that Google placed a firm order for more than 3 million of its tensor processing units to be manufactured by Intel in 2028, while Nvidia is running early trials on Intel's most advanced 18A process for its next-generation Feynman GPU architecture. See our full article here.

Is now the time to buy Intel? Access our full analysis report here, it's free.

Brinker International (NYSE:EAT): Casual restaurant chain Brinker International (NYSE:EAT) rose by 6.8% on Thursday after an analyst at TD Cowen raised their price target on the stock and the company's CEO expressed confidence in its performance, citing sustained sales growth at its Chili's brand. See our full article here.

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FuelCell Energy (NASDAQ:FCEL): Carbonate fuel cell technology developer FuelCell Energy (NASDAQ:FCEL) fell by 11.2% on Monday after it reported Q2 fiscal 2026 results that missed on every financial metric, including revenue, loss per share, gross margin, and backlog. See our full article here.

Is now the time to buy FuelCell Energy? Access our full analysis report here, it's free.

Robinhood (NASDAQ:HOOD): Financial services company Robinhood (NASDAQ:HOOD) rose by 6.4% on Wednesday after it received regulatory approval for its securities division to operate as an underwriter for initial public offerings (IPOs), alongside several other positive catalysts. See our full article here.

Is now the time to buy Robinhood? Access our full analysis report here, it's free.

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Yahoo Finance Senior Reporter Brooke DiPalma joins Market Domination to tackle today's top trending tickers, including the momentum driving SpaceX (SPCX) shares in Friday's session after the company's IPO, the impact it is having on other space stocks Virgin Galactic (SPCE) and Rocket Lab (RKLB), and how semiconductor stocks such as Micron Technology (MU) and Nvidia (NVDA) are moving on the historic public offering.

Video Transcript

00:05 Jared

It is time to cover some of today's trending tickers brought to you by CBO. We're watching SpaceX, other space stocks and chip names and joining me now live from the Nasdaq is Yahoo Finance's Brooke De Palma. So Brooke, we got to talk about SpaceX here. You were there at 11:45 a.m. when we got that first trade, 56 something million shares, $8.4 billion dollars. What was it like?

00:32 Brooke DiPalma

Yeah, I mean the stock opened up at 150, now hovering just above 160 after surpassing 170 earlier this day. Definitely the excitement, the energy, it is all there. But you can't help but also follow this story on social media as well. Elon Musk, uh particularly, uh sort of making this more than just an IPO itself. There are so many ways that this IPO is so unique including that $135 IPO price that we got even in the filing. On top of the fact that retail investors are getting larger piece of pie. But I also want to draw your attention to this tweet where they actually gave the underwriter, supposedly Elon Musk, giving the underwriters green shoes because of the green shoe option, essentially saying that underwriting banks can sell more shares than actually exists within the offer. Typically that's upwards of more than 15%. And so it just goes to show that the energy, the excitement and and the anticipation that this IPO going into it was already going to be oversubscribed. It's certainly there and you could see this just sort of playing out not only here at the Nasdaq but really across of social media. A lot of social posts that have been putting out are getting such high engagement. Um so really, SpaceX now trading above still above nearly uh 19% more than that IPO price of 150.

01:23 Jared

Yeah. We were just talking to Caleb Silver down at the New York Stock Exchange and guess what they're watching too. All right, we we got to move on here because looking at some of the other space stocks out there, you could say Rocket Lab, Virgin Galactic, EchoStar, UFO ETF, they're all trading lower here. And this raises an overarching concern I've heard a lot this week, which is SpaceX is so big, maybe it's just sucking money out of other trades and there are concerns that maybe, you know, we're putting in a temporary market top here because of its size. What do you think, Brooke?

01:54 Brooke DiPalma

Right. Right. Well, if you take a look at SPCE, which is quite similar to SPCX, which is what SpaceX is now trading under, that's Virgin Galactic. And going into this, year to date, the stock was up more than 22%. Now the stock trading just below $4 per share. And so you have to wonder with so much discussion around how this SpaceX IPO was really providing such momentum to the space economy, the interest in the space economy, you have to wonder how these IPOs or rather how these companies within the space sector will perform following this when it seems like everybody wants to be in on the company who seemingly seems to be doing everything. I mean, Elon Musk wants to build a colony on Mars. Elon Musk is already putting data centers or rather satellites into space, eventually data centers into space. He also wants to get colonization on the moon. And so they're playing into these long-term bet that's also taking some near-term strategy. A company that's not profitable, a companies that's revenue is far less than its valuation, but it seems like investors right now willing to take the risk, perhaps moving away from some of these, you know, old school, long running space companies that we've seen listed for quite some time.

03:00 Jared

Sure, like Boeing, Lockheed Martin, etc. Want to talk to you about semiconductors because they've had an incredible run this quarter, but they've been under a bit of pressure at various times this week and part of what I was just talking about, the concern that some of the uh that the SpaceX trade is being funded by other parts of the market. Well, are we seeing that in the chip trade here?

03:24 Brooke DiPalma

Yeah, what we're seeing as we head or make our way into this afternoon, if you take a look at what we're seeing within the YF interactive, we are seeing uh some intraday trading, mostly a mixed picture, but Nvidia, Broadcom, Micron, ASML, all down, moving lower, but at the same time, you do have some stocks that are benefiting not only from perhaps this risk-on sentiment that SpaceX is is inviting to the market given that it has outperformed expectations, certainly well above that 135 IPO price. But on top of that, too, you have this potential ceasefire uh within uh with between the US and Iran. So that's certainly contributing to some momentum that we're seeing in the market, too. But some of the names seeing the most momentum today include Intel, ARM, Qualcomm, even SanDisk seeing a nice pop. And so certainly these names that are playing into this larger AI narrative are seeing some tailwinds because of the SpaceX IPO, Jared.

04:09 Jared

Yeah, and you got to think that the uh the winners, that might be a narrower group going forward. But I appreciate you stopping by here, Brooke. Yeah.

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Investing.com -- Investors have had to assess a mix of earnings disappointments, capital raises, and shifting fortunes, with the week headlined by SpaceX's high-profile public market debut.

Here are Investing.com's stocks of the week:

SpaceX

There is only one place to start. SpaceX made its trading debut on Friday, drawing substantial investor attention given its dominant position in the launch and satellite internet markets.

The rush of investors to get in on the action reportedly caused service disruptions at brokerage Robinhood due to record-breaking traffic on the platform during trading in SpaceX shares following the IPO.

However, CFRA analyst Keith Snyder is less enthusiastic, initiating coverage of the stock with a Sell rating and a $115 price target, striking a cautious tone on valuation.

"This is due to the company's extremely ambitious growth strategy, elevated valuation expectations, and significant capital intensity," Snyder said, adding that the investment case requires investors to underwrite several difficult outcomes simultaneously.

Oracle

Oracle shares have slumped 20.6% this week, including an 8.5% drop on Thursday, after the company delivered a mixed fiscal fourth-quarter report.

Cloud infrastructure results came in line with expectations, while applications revenue landed slightly below Street estimates.

Baird analyst Rob Oliver reiterated an Outperform rating and a $215 price target, noting that fiscal 2027 revenue guidance was reiterated even as capital expenditure guidance came in above Street expectations, including additional financing needs.

"AI momentum remains healthy with four deals >$8B signed during the quarter," Oliver said, though he acknowledged that "moving parts around the FY'27 guide and Capex may weigh on shares."

Super Micro Computer

SMCI has tumbled 32.2% in the last week, including a 28% plunge on Wednesday, after the company announced financing transactions totaling up to $7 billion in potential gross proceeds.

The package includes a public offering of 45.5 million common shares at $27.50 apiece and 75 million depositary shares tied to new mandatory convertible preferred stock.

The company said proceeds would help fund component purchases tied to roughly $39 billion in AI server orders received from more than 20 customers in recent weeks, with additional funds earmarked for debt repayment and general corporate purposes.

Intel

Intel has rallied 18.9% over the past week, boosted by a report from The Information that indicated Google and Nvidia are exploring the chipmaker as an alternative manufacturing partner.

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According to the report, Google has ordered more than three million tensor processing units from Intel for production in 2028, while Nvidia is evaluating whether Intel's process technology could produce a chip combining four GPUs into a single package.

Marvell Technology

Marvell shares have slipped 4.5% over the week, even after jumping more than 9% on Monday, as gains were pared despite news the chipmaker will be added to the S&P 500 before the June 22 open.

The week also saw the company announce a leadership change, with Dan Durn set to become CFO effective June 15, succeeding longtime finance chief Willem Meintjes. Durn is joining the company from Adobe.

Meanwhile, B. Riley analyst Craig Ellis raised his price target on Marvell this week to $345 from $240 while maintaining a Buy rating, citing a deepening Nvidia partnership, a broader ownership base from index inclusion, and confidence in the incoming CFO.

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Investing.com’s stocks of the week

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As Claude disrupts stock market, Anthropic researcher warns ’world is in peril’

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Quick Read

Intel surged 8% Friday to lead chip stocks, outpacing AMD's 6% gain and leaving NVIDIA flat, extending INTC's dominant 217% year-to-date run. Intel's forward P/E of 123x nearly doubles AMD's 68x and quadruples NVIDIA's 32x, flagging serious valuation risk once momentum fades. Despite the rally, 31 of 48 analysts rate INTC a Hold or Sell, and a consensus target of $92 implies significant downside from current levels. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today.

Shares of Intel (NASDAQ:INTC) are up 8% in midday trading on Friday, June 12, changing hands near $127. That move makes Intel the standout performer among the three mega-cap chip names investors are tracking most closely today.JasonDoiy / Getty Images

Advanced Micro Devices (NASDAQ:AMD) stock is also rallying, up 6% to $518. NVIDIA (NASDAQ:NVDA) stock is little changed near $205, which puts INTC stock clearly on top of the day's chip-sector scoreboard.

The session sits inside a much larger story for Intel shareholders. INTC stock is up 237% year to date (YTD) through Thursday's close, dwarfing AMD's 139% YTD return and NVIDIA's more modest 10% advance over the same stretch.

The Move: Intel Tops the Chip Scoreboard

Intraday data indicates that INTC stock accelerated from near $119.70 in the 9 a.m. ET hour to about $124.50 by noon. The session high so far stands above $126, with the heaviest volume concentrated in the first hour of trading at 19.1 million shares.

The rally pushes Intel within striking distance of its 52-week high of $132.75. That figure looks even more dramatic against the 52-week low of $18.96 and a 200-day moving average of $52.13, underscoring just how aggressive the rerating in Intel shares has been over the past year.

The Why: Momentum Builds Without a Single Headline

No single, discrete news catalyst has emerged to explain today's pop in Intel shares. The composite sentiment picture is constructive, however, with a bullish score of 60.4 and a 30-day trend change of +17.48. Insider activity also leans positive, with 47 recent insider transactions tilting net-buy.

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Fundamentals reported on April 23 remain part of the backdrop. Intel posted Q1 2026 revenue of $13.58 billion, up 7% year over year (YoY), with Data Center and AI revenue up 22% YoY to $5.05 billion. CEO Lip-Bu Tan has been steadily framing Intel as an inference and foundry play.

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The sell side remains skeptical, though. The INTC consensus analyst target price of $92.17 implies meaningful downside from current levels. The breakdown is 12 Buy, 31 Hold, and 5 Sell ratings, so the crowd and the sell side don't currently agree on where Intel stock belongs.

Peers in Focus: AMD Rallies on Citi Upgrade, NVIDIA Cools

Advanced Micro Devices is having its own strong session, supported in part by a Citi upgrade to Buy with a $575 price target earlier today. AMD stock is up 6%, a solid showing, but still trailing Intel's gain on a percentage basis.

NVIDIA stock, by contrast, is barely changed after the company delivered Q1 FY2027 revenue of $81.6 billion (up 85% YoY) on May 20. The prediction markets put the probability of NVDA closing above $205 today at just 43%.

What to Watch

One strong session doesn't reset the longer narrative. Intel trades on a forward P/E ratio of 123x, while AMD carries a forward P/E ratio of 68x and NVIDIA looks comparatively reasonable on a P/E ratio of 32x. The valuation gap could matter once momentum cools.

Investors can keep an eye on whether INTC stock holds above $125 into the close, and whether today's relative outperformance versus AMD and NVIDIA carries into next week. The next major catalyst remains Q2 2026 earnings, with Intel having guided to revenue of $13.8 billion to $14.8 billion and a non-GAAP gross margin near 39%.

For now, the scoreboard is clear. Intel leads, AMD follows, and NVIDIA is taking a breather after its post-earnings cool-down. Investors who chase a single day's leader might pay for it later, so trimming into strength or sizing positions modestly can make sense when one's exposure has already run this far, this fast.

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Stock Market Today: The Dow Jones index rose Friday on U.S.-Iran peace deal hopes. SpaceX stock jumps on its debut.

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

The S&P 500 Index ($SPX) (SPY) is up +0.29%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.37%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.41%.  June E-mini S&P futures (ESM26) are up +0.28%, and June E-mini Nasdaq futures (NQM26) are up +0.39%.

Stocks are seeing support again today as reports circulate that a preliminary US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports.  Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues.  Iran claimed it would continue to exert control over the Strait of Hormuz even after a new ceasefire agreement.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership.  He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."

WTI crude oil prices (CLN26) are down more than -1% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.

Tech stocks are being undercut today by weakness in chip and software stocks.

In some positive news for stocks, the University of Michigan’s US Consumer Sentiment index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0.

The markets are waiting to see how SpaceX will open for trading today after its IPO on Thursday.  Nasdaq says the shares will be released for quotation at 9:50 AM ET today, but it may take some time for regular trading to begin.

The markets are discounting a 4% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.

Overseas stock markets are higher today.  The Euro Stoxx 50 is up +1.4%.  China's Shanghai Composite closed up +1.12%.  Japan’s Nikkei-225 Stock Average closed up +2.81%.

Interest Rates

September 10-year T-notes (ZNU6) today are down -8 ticks, and the 10-year T-note yield is up +3.2 bp at 4.493%.  T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.7 bp at 2.313%, despite today’s drop in oil prices.  The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens.  The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.

European government bond yields are trading lower.  The 10-year German Bund yield is down -1.6 bp at 3.015%.  The 10-year UK gilt yield is down -4.2 bp at 4.863%.

On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Space Exploration Technologies Corp (SPCX), doing business as SpaceX, is expected to begin trading this morning after raising a record $75 billion in its IPO on Thursday.  The stock is expected to open substantially above its IPO price of $135.  The IPO was more than four times oversubscribed, indicating strong demand for the stock.  A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.

Space-linked stocks are trading lower despite the SpaceX debut, with EchoStar (SATS) down more than -6%, and Rocket Lab (RKLB) down more than -5%.

Chip stocks are trading mostly lower today after Thursday’s sharp rally, with the iShares Semiconductor ETF (SOXX) trading slightly lower after Thursday’s rally of +8.39%.  Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending.  Chip leaders today include AMD (AMD) and Intel (INTC), with gains of more than +3%.

Adobe (ADBE) is down more than -8% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign.  The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL).  ServiceNow (NOW), Atlassian (TEAM), and Workday (WDAY) are all trading down by more than -3%.

Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline.  United Airlines (UAL) and Southwest Airlines (LUV) are trading up more than +0.5%.

Energy stocks and service providers are mixed despite today’s continued slump in oil prices.  Baker Hughes is down more than -1%, but Occidental Petroleum (OXY) and Marathon Petroleum (MPC) are up more than +1%.

Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22.  Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).

Travelers (TRV) is down more than -1% after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.

Earnings Reports(6/12/2026)

America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

More news from Barchart

S&P Futures Climb as U.S.-Iran Peace Deal Nears, SpaceX Debut in FocusStocks Climb Before the Open on U.S.-Iran Peace Hopes, PPI Data in FocusNasdaq Futures Plunge as Tech Selloff Deepens, U.S. Inflation Data in FocusStocks Set to Extend Rebound Amid AI Dip-Buying

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

The S&P 500 Index ($SPX) (SPY) is up +0.58%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.91%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.64%.  June E-mini S&P futures (ESM26) are up +0.70%, and June E-mini Nasdaq futures (NQM26) are up +0.79%.

Stocks are seeing support again today as reports circulate that an interim US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports.  Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues.  However, Iran said its leaders still need to make a final decision on the proposed interim peace deal.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership.  He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."

WTI crude oil prices (CLN26) are down more than -3% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.

In positive news for stocks, the University of Michigan’s June US Consumer Sentiment Index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0.  Also, the University of Michigan’s June 1-year inflation expectations rate eased to +4.6% from +4.8% in May, and was weaker than expectations of +4.9%.  The June 5-10 year inflation expectations rate eased to +3.4% from +3.9% in May, weaker than expectations of +3.8%.

The markets are discounting a zero percent chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.

Overseas stock markets are higher today.  The Euro Stoxx 50 is up +1.9%.  China's Shanghai Composite closed up +1.12%.  Japan’s Nikkei-225 Stock Average closed up +2.81%.

Interest Rates

September 10-year T-notes (ZNU6) today are down -3 ticks, and the 10-year T-note yield is up +1.6 bp at 4.477%.  T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.1 bp at 2.306%, despite today’s drop in oil prices.  The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens.  The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.

European government bond yields are trading lower.  The 10-year German bund yield is down -3.3 bp at 2.999%.  The 10-year UK gilt yield is down -6.6 bp at 4.839%.

On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Space Exploration Technologies Corp (SPCX), doing business as SpaceX, started trading today near $160 per share, up nearly +20% from Thursday’s IPO of $135.  The IPO was more than four times oversubscribed, indicating strong demand for the stock.  A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.

Space-linked stocks are trading lower despite the favorable SpaceX debut, with EchoStar (SATS) down more than -9%, and Rocket Lab (RKLB) down more than -7%.

Chip stocks recovered from early losses and are trading mostly higher.  The iShares Semiconductor ETF (SOXX) is up +2.25% today, adding to Thursday’s sharp rally of +8.39%.  Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending.  Chip leaders today include Arm Holdings (ARM)with a gain of more than +10%, and gains of more than +5% in Qualcomm (QCOM), AMD (AMD), and Intel (INTC).

Adobe (ADBE) is down more than -7% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign.  The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL).  Autodesk (ADSK) is down more than -3% and Intuit (INTU) is down by more than -2%.

Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline.  United Airlines (UAL), American Airlines (AAL), and Southwest Airlines (LUV) are all up more than +3%.

Energy stocks and service providers are trading higher with today’s continued sell-off in crude oil prices.  Occidental Petroleum (OXY), Valero (VLO), and Marathon Petroleum (MPC) are all up more than +2%.

Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22. Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).

Travelers (TRV) is seeing downward pressure after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.

Earnings Reports(6/12/2026)

America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.