Stock Market Today, June 8, 2026: S&P 500 and Nasdaq Rise as Tech Leads

The Nasdaq Composite and the S&P 500 closed higher on Monday, June 8, 2026, as the semiconductor stocks that led Friday’s selloff led the rebound. The Nasdaq rose 0.9% and the S&P 500 added 0.3%. The Dow Jones Industrial Average rose earlier in the session and ended 0.2% lower. Intel gained about 11% and Micron Technology about 10%, the iShares Semiconductor ETF climbed nearly 6%, and the S&P 500 Information Technology sector finished as the strongest of the index’s 11 sectors with a 1.5% advance.

The rally came as several sources of pressure stayed in place. Treasury yields kept climbing after Friday’s stronger-than-expected May jobs report. Oil prices rose after Israel and Iran exchanged military strikes over the weekend, then gave back part of that gain after both countries said attacks had stopped. The May Consumer Price Index report is due Wednesday, and economists expect it to show annual inflation above 4% for the first time since 2023.

Company news also lifted chip and AI hardware stocks. A report said Intel had struck a deal to make AI chips for Google and that Google and Nvidia were considering Intel as a backup chip manufacturer. Marvell Technology rebounded after S&P Dow Jones Indices said it will join the S&P 500. Corning announced a multibillion-dollar data center supply agreement with Amazon. Outside tech, FuelCell Energy fell 11% after a wide earnings miss, and Campbell’s reported mixed quarterly results and warned of higher costs tied to the Middle East conflict.

Chip Stocks Reverse Friday’s Losses

Monday’s session followed one of the sharpest selloffs of the year. On Friday, the monthly U.S. employment report showed more jobs added in May than economists had expected. The data raised expectations that the Federal Reserve would keep interest rates higher for longer. Treasury yields surged, and hopes for a rate cut this year faded.

Stocks fell hard in response. The Nasdaq Composite lost more than 1,100 points on Friday, a drop of over 4%. The Dow fell nearly 700 points, and the S&P 500 also closed lower. The PHLX Semiconductor Index (SOX) posted its worst session since 2020. All seven Magnificent Seven stocks finished in the red. Tesla and Nvidia each fell more than 6%. Marvell Technology plunged about 17% to lead Nasdaq decliners, and Intel and Micron dropped by double digits.

Stock futures were mixed before Monday’s open, with contracts tied to the Dow pointing 0.2% lower. Once trading began, buying concentrated in the stocks hit hardest on Friday. The Nasdaq was up about 1% during the session, and the SOX gained more than 5% intraday. The iShares Semiconductor ETF closed up nearly 6%. Intel closed up about 11%, Micron gained about 10%, and Marvell finished with a gain of nearly 10%.

Among the Magnificent Seven, Tesla closed up 4.6% and Nvidia rose 1.7%, recovering part of the 6%-plus losses each posted on Friday. The group as a whole finished mostly lower. The rally ran through semiconductors and AI hardware, and most of the large tech platforms did not share in it.

Apple was the clearest decliner among the large tech names. Its shares erased early gains and closed down almost 2% on the first day of the company’s annual Worldwide Developers Conference.

Strategists Split on the Bounce

Strategists differed on what the rebound meant for the memory and semiconductor stocks that had pushed the market to record highs earlier in the year. Some saw additional forces that could weigh on the group.

Hank Smith, director and head of investment strategy at Haverford Trust, cautioned against reading too much into one weak session. “I would be careful about taking one bad day in semiconductors and extrapolating the start of a new trend,” Smith said in written commentary. He called the recent decline “a healthy correction within a bull market, not the beginning of a broader downturn,” and said strong earnings, improving manufacturing and “the early innings of AI” keep his firm constructive on stocks.

Nancy Tengler, CEO of Laffer Tengler Investments, took a more cautious line. “Traders are looking ahead to the next big opportunity,” she said. Her firm is trimming stakes in some of its best-performing holdings, including Micron and Lam Research, to make room for new market leaders.

The opportunities Tengler named include Elon Musk’s SpaceX, which could complete the largest IPO in history as early as this week. She also pointed to planned market listings by AI labs Anthropic and OpenAI later in the year.

Tech Leads the Sector Board

An hour into trading, the S&P 500 Information Technology sector was up 2%, and five of the index’s 11 sectors were in positive territory. Intel, Micron and Corning led tech in the morning, with early gains of about 11%, 9% and 7.5%, respectively.

Energy was up 1.7% at that point in the session as oil prices climbed after the weekend strikes between Israel and Iran. Communication Services was the weakest sector early, down about 1.2%.

By the close, the technology sector’s gain had narrowed to 1.5%. It still finished as the best-performing group in the S&P 500. Intel’s closing gain of about 11% matched its early pace after a midday peak of more than 12%.

Consumer-focused stocks had their own developments. Campbell’s slipped after reporting results, and Campbell’s and pool supplies distributor Pool are set to leave the S&P 500 later this month, with Marvell and Flex taking their places. The live index level and recent performance are on the S&P 500 quote page.

Dow Slips as Apple Weighs

The Dow’s 0.2% decline separated it from the S&P 500 and the Nasdaq. The blue-chip index rose early in the session before slipping into negative territory by the close.

Two factors drove the gap. Apple is a Dow component, and its afternoon slide to a close down almost 2% weighed on the index. Intel, the S&P 500’s top performer for much of the day, is not a Dow member. It was removed from the Dow in 2024 and replaced by Nvidia. Intel’s roughly 11% jump lifted the S&P 500 and the Nasdaq and had no effect on the Dow.

The Nasdaq fell further than the S&P 500 on Friday, when chip stocks led the selloff, and rose more on Monday as the same stocks recovered.

Intel Jumps on Reported Google Deal

Intel shares were up more than 12% in midday trading and led S&P 500 gains for much of the day. The stock closed up about 11%.

The catalyst was a report from The Information about Intel’s contract manufacturing business. The report said Intel had struck a deal to make more than 3 million specialized AI chips for Google. It said an agreement with Nvidia could follow, with both Google and Nvidia considering Intel as a backup chip manufacturer.

Intel declined to comment on the report. Google and Nvidia did not respond to requests for comment before publication.

The report came weeks after separate reports that Intel could be nearing a deal with Apple, a former customer. Deals of this kind could help Intel show it can attract outside customers for its manufacturing arm, which is the central question analysts have raised about the business.

Monday’s gain recovered part of Intel’s recent losses, including its double-digit decline on Friday. Even after the jump, the stock remained about 18% below its May high.

Intel shares have still roughly tripled since the start of 2026, which places the stock among the S&P 500’s best performers for the year. A string of high-profile deals and better-than-expected results drove most of that run.

Analysts remain divided on the stock. Some question whether the gains can last and whether Intel will secure firm commitments for its manufacturing business. Of the seven analysts with current ratings on Intel tracked by Visible Alpha, three rate the stock a buy, three rate it neutral and one rates it a sell.

Marvell and Flex to Join the S&P 500

Late Friday, S&P Dow Jones Indices announced that Marvell Technology and Flex will join the S&P 500 before trading opens on Monday, June 22, as part of a periodic rebalancing. They will replace Pool and Campbell’s, two consumer-focused companies, which will move to the S&P SmallCap 600.

The announcement capped a volatile stretch for Marvell. The AI chip designer’s shares closed May at $205. Early last week, they jumped above $320 after Nvidia CEO Jensen Huang said Marvell was likely to become a $1 trillion company. Nvidia owns a stake in Marvell.

The broad tech selloff then hit the stock. Marvell finished Friday around $263 after its 17% drop, the worst performance on the Nasdaq that day. That left the company with a market value of about $230 billion, less than a quarter of the trillion-dollar mark Huang described.

On Monday, Marvell rose about 10% to around $290 in early trading and held a gain of nearly 10% into the close. The move narrowed the gap to the stock’s recent high above $320 without closing it.

Flex, a contract electronics manufacturer, ended Friday down nearly 5%. The stock was up about 250% for the year through that close.

Additions to the S&P 500 and other major indexes generally lift a stock because funds that track the index must buy the shares once the change takes effect. Funds tracking the S&P SmallCap 600 will take on Pool and Campbell’s on the same date. Campbell’s also reported quarterly results on Monday, covered below.

Corning Signs Amazon Data Center Deal

Corning shares rose about 7% to 7.5% in morning trading after the specialty glassmaker announced a multibillion-dollar agreement to supply Amazon with optical fiber equipment for its data centers. Amazon shares rose less than 1% in the morning.

The agreement is the latest deal between Corning and a Magnificent Seven company. The companies said it will create 1,000 new jobs at Corning’s manufacturing facilities in North Carolina. It will also expand a training program for students as Corning grows its U.S. manufacturing footprint.

Corning CEO Wendell Weeks called the agreement a “significant milestone” for the company and its manufacturing efforts.

Corning makes the glass used on smartphones, including Apple’s iPhone. Its largest business is Optical Communications, which supplies the fiber optic cables that connect equipment inside data centers. That segment produced about 40% of Corning’s revenue last year, and demand for that cabling from companies building larger AI data centers has tied Corning to the same infrastructure spending that drives chipmakers.

Corning was among the top three gainers in the technology sector in the first hour of trading, behind Intel and Micron.

Bitcoin and Crypto Stocks Rebound

Bitcoin also recovered part of last week’s losses. On Friday, the cryptocurrency fell below $60,000 for the first time since October 2024, leaving it at less than half its October peak. On Monday, it recovered to about $63,500, up from overnight lows near $61,200.

Crypto-linked stocks rebounded along with it. Strategy, Robinhood Markets, MARA Holdings and Coinbase Global rose between about 3% and 12% on Monday. The same four stocks had fallen between 6.5% and 11% on Friday.

Strategy Resumes Bitcoin Buying

Strategy, an enterprise software company better known for accumulating bitcoin on its balance sheet, rose about 4% in early trading Monday. The company said it bought 1,550 bitcoin last week at an average cost of about $65,000.

The purchase followed Strategy’s recent sale of some of its holdings, its first since 2022. The sale was relatively small, yet it unsettled the market as bitcoin slid to its lowest levels since 2024. Through Friday’s close, Strategy shares were down more than 22% for the year, while the S&P 500 was up 7%. Monday’s purchase announcement indicated the company was buying again after the sale.

Options pricing pointed to large swings ahead. Recent prices implied a move of about 9% in either direction through Friday, which would put the stock as high as about $139 or as low as about $115.

Citi Research remained bullish on both Strategy and bitcoin. Analyst Alex Saunders wrote early last week that the company’s small sale “has had an outsized effect” on the cryptocurrency but did not change the firm’s “strategic outlook.” Citi’s mid-March forecast set a base-case bitcoin target of $112,000, with a bear case of $57,000 and a bull case of $166,000. Bitcoin’s Friday low below $60,000 approached that bear-case level.

FuelCell Energy Falls After Wide Miss

FuelCell Energy shares fell 11% after the Danbury, Connecticut, clean energy company reported fiscal 2026 second-quarter results well below estimates.

FuelCell posted a net loss of $1.45 per share. Revenue fell about 5% from a year earlier to $35.6 million. Analysts surveyed by Visible Alpha had expected a loss of $0.50 per share on revenue of $40.7 million.

Operating expenses rose to $65 million from $26.4 million a year earlier. Most of the increase came from a $42.6 million noncash impairment charge.

CFO Mike Bishop said on the earnings call that the charge followed the company’s “decision to upgrade the 7.4 megawatt Groton Navy project with our current generation 2.5 megawatt power blocks,” with the goal of ensuring high-reliability baseload power for a critical U.S. government asset. Bishop called it “a strategic decision” aimed at reliability for the Navy base customer after the upgrade.

FuelCell describes itself as a company that delivers “continuous, scalable baseload power for mission-critical applications globally.” Its stock has swung sharply this year. The shares were essentially flat for the year through mid-April. They then surged about 260% to a closing high of $26.38 on May 21.

The stock has pulled back sharply over the past couple of weeks since that peak. It traded around $15.40 on Monday afternoon, still up more than 100% for the year.

Campbell’s Warns of Higher Inflation

Campbell’s reported mixed fiscal 2026 third-quarter results on Monday. Adjusted earnings were $0.50 per share, two cents above the Visible Alpha consensus. Net sales fell 4% from a year earlier to $2.37 billion, slightly below analysts’ estimates.

Both of the company’s business segments weakened. Operating earnings in the Snacks segment, which includes Goldfish crackers, fell 32% to $95 million. The company attributed the drop mainly to lower gross profit from elevated cost inflation and other supply chain costs, an unfavorable volume and product mix, and the gross impact of tariffs. Operating earnings in the Meals & Beverages segment fell 16% to $213 million.

On the earnings call, Campbell’s CFO told analysts that “given where prices are right now, the one thing that is looking more and more clear every day is that the first-half inflation will be pretty high,” referring to the company’s next fiscal year.

Campbell’s has not issued fiscal 2027 guidance. The CFO said that before the conflict, the company’s initial planning for fiscal 2027 assumed inflation close to 3%. He said the added effect of oil and the closure of the Strait of Hormuz would contribute another 2 to 3 percentage points, bringing total inflation to 5% to 6%. “So it’s just not oil directly, but it’s everything that oil, obviously, gets into,” he said, citing packaging and logistics.

Campbell’s shares slipped about 1.5% in midday trading. The stock has lost nearly a quarter of its value this year. Campbell’s is one of the two companies that will leave the S&P 500 for the S&P SmallCap 600 on June 22.

Oil, Yields, the Dollar and Gold

Oil prices jumped early Monday after Iran and Israel exchanged missile fire over the weekend. The strikes tested a ceasefire that both sides have broken sporadically in recent weeks.

Prices pared gains after President Donald Trump wrote on Truth Social that “Israel and Iran must immediately stop ‘shooting.’” Trump later said the countries were “looking to do an immediate ceasefire.” Both countries then confirmed they had halted attacks.

West Texas Intermediate crude futures, the U.S. benchmark, were up about 1% at $91.40 a barrel as of 4 p.m. ET. Front-month Brent crude, the global benchmark, settled up 1.2% at $94.25 a barrel.

The war with Iran has largely sealed off the Strait of Hormuz, which is typically used to ship about 20% of the world’s oil along with fertilizer and other resources. That disruption is the source of the added cost pressure Campbell’s described on its earnings call.

The 10-year Treasury yield was around 4.56%, up from 4.52% at Friday’s close, extending the climb that followed the jobs report. Higher yields weighed on tech shares on Friday. On Monday, technology led the market even as yields rose, with support from the reported Intel deals, Marvell’s index addition and Corning’s Amazon agreement.

The U.S. dollar index slipped 0.1% to 100.01. Gold futures fell 0.3% to $4,350 an ounce.

What to Watch This Week

May CPI on Wednesday

The week’s main scheduled release is the Consumer Price Index report for May, due Wednesday. It will give another reading on how much the conflict with Iran is pushing up prices. Economists expect annual inflation to rise above 4% for the first time since 2023.

The April data set the backdrop. CPI rose 3.8% from a year earlier in April, the largest annual increase in nearly three years. Gasoline prices were up more than 28%. Core CPI, which excludes food and energy, rose 2.8%, a reading that suggested higher oil and gas costs were spreading into other segments of the economy.

Other April price measures also ran hot. The Producer Price Index, which tracks wholesale prices, rose 6% from a year earlier. The Personal Consumption Expenditures price index rose 3.8%. Longer-run context on these readings is in Fintrev’s U.S. inflation rate by year data.

Friday’s jobs report had already reduced the odds of a Federal Reserve rate cut this year, and Wednesday’s inflation figures will be the next data point for expectations about the Fed’s path over the rest of the year.

Adobe, Apple and the SpaceX IPO

In tech, Adobe is scheduled to report earnings this week. Apple will continue its Worldwide Developers Conference, where it is presenting new releases, after the stock’s decline on the event’s opening day.

The largest event could be the SpaceX initial public offering. The Musk-led company’s filing shows the offering could raise $75 billion at a valuation of $1.75 trillion, and it could price as early as this week. That would make it the largest IPO in history. Listings from Anthropic and OpenAI could follow later in the year.

The SpaceX deal will be another measure of demand for tech shares after the recent swings in chip and AI stocks. Tengler said her firm is trimming Micron and Lam Research partly to make room for new market leaders such as SpaceX.

Index Changes on June 22

The S&P 500 changes take effect before the open on Monday, June 22, when Marvell and Flex join the index and Pool and Campbell’s move to the S&P SmallCap 600.