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LivestreamMenuTraders work at the New York Stock Exchange on June 8, 2026. NYSE
S&P 500 futures were slightly lower Monday night after a rally in chip stocks boosted the index.
Futures tied to the broad market index were off 0.3%, while Nasdaq 100 futures lost 0.4%. Dow Jones Industrial Average futures fell by 84 points, or 0.2%.
Chip stocks led the S&P 500 higher in regular trading Monday, with the index rising 0.3%. The tech-dominant Nasdaq Composite climbed 0.86%. Both averages clawed back some of their losses from last week’s tech rout. The blue-chip Dow, on the other hand, bucked the trend to shed 80.77 points, or 0.16%.
Although the artificial intelligence and chip trade has been the primary market driver on Monday and in other recent sessions, Brian Kersmanc, portfolio manager at GQG Partners, offered some skepticism over the trend’s longevity.
“What the issue is on a longer-term basis is sustainability,” Kersmanc said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “So, how much further does this sustain on a longer-term basis?”
“At the end of the day, a lot of these chip names are commodities,” the portfolio manager added. “And if you look at it in terms of a commodity, when you have a rapid price increase that you had — in some areas of memory, you had a 15x price increase over the course of last year or so — if I were to recontextualize that … a 15x increase in energy, go from $60 a barrel to $900 a barrel, how many energy stocks would people be buying right now?”
The fragile ceasefire between the U.S. and Iran was called into question over the weekend, following a reported missile attack from Iran. In response, Israel carried out a “large-scale strike on strategic defense systems” on Monday, according to the Israel Defense Forces’ X account.
However, that same day President Donald Trump said in a Truth Social post that Israel and Iran “are looking to do an immediate ceasefire.” Later on Monday, Tehran’s Ministry of Foreign Affairs told CNBC that while Iran’s military has stopped its strikes against Israel, hostilities would resume if Israel continued to attack Lebanon.
United Natural Foods, J.M. Smucker, Designer Brands and Lands’ End will report earnings before Tuesday’s opening bell. Traders will also watch out for April’s wholesale inventories and May’s existing home sales and NFIB small business index readings.
12 Min Ago
Vail Resorts falls 5% after lowering its full-year adjusted EBITDA guidance
Shares of Vail Resorts were trading about 4% lower in Monday’s after-hours session after the company cut its guidance for adjusted EBITDA for the full year.
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MTN 5D chart
The luxury ski resorts operator now sees adjusted EBITDA coming in between $739 million to $761 million for the year, versus prior guidance of the lower end of the $745 million to $775 million range. Analysts polled by FactSet were expecting the figure to come in at $748.7 million.
However, Vail Resorts reported adjusted EBITDA and revenue for its fiscal third quarter that came in above analysts’ forecasts.
— Lisa Kailai Han
15 Min Ago
OpenAI confidentially files for IPO
OpenAI has confidentially filed for an IPO with the Securities and Exchange Commission.
OpenAI’s filing comes just a week after rival Anthropic’s, and days before Elon Musk’s SpaceX is slated to go public.
The artificial intelligence company, currently valued at more than $850 billion, could go public as soon as the fourth quarter of this year. But OpenAI said on Monday it has not yet decided on exact timing.
“We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best,” the company said in its post.
— Ashley Capoot and Lisa Kailai Han
38 Min Ago
Stock futures open little changed
Stock futures traded near flat on Monday evening.
Shortly after 6 p.m. ET, futures tied to all three major averages were trading around the flatline.
— Lisa Kailai Han
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