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Market Edge® Daily Market Update Monday, June 08, 2026 Market Recap (6/08/2026)
Chips Rebound From Friday Rout A strong rebound in semiconductor stocks started the week on a high note today. An +11.11% spike in Intel (INTC) after a report that Alphabet (GOOGL) would use the company to build its chips and a +9.63% bounce in Micron Technology (MU) triggered the reversal sending the Philadelphia Semiconductor Index up +5.61% after Friday's rout. Shares of Apple (AAPL) were lower after its announced AI plans at the WWDC received a lukewarm response from investors. Corning (GLW) was a winner after comments about helping to build out data centers. While the Technology (XLK) sector regained +2.15%, only three of the 11 sectors closed higher, including Energy (XLE), as oil prices nudged higher, and Consumer Discretionary (XLY). Utilities (XLU), REITs (XLRE) and Materials (XLB) were the weakest market groups. After an opening bounce the DJIA erased a 185-point gain to finish down 80.77 points (-0.16%) at 50786.01. The S&P 500 added 21.99 points (+0.30%) closing at 7405.73, while the NASDASQ jumped 220.23 points (+0.86%) finishing at 25929.66. Breadth was mixed with declining issues beating advancing issues by 120 units on the NYSE, while advancing issues led declining issues 1.4:1 on the NASDAQ. Declining volume was 51% on the NYSE but advancing volume was 66% of the NASDAQ. The VIX fell 2.59 (-12.04%) and closed at 18.92. Crude oil prices added 0.85 (+0.98%) and the July contract closed at $91.43 a barrel. Gold prices lost 12.60 (-0.30%) and finished at $4352.40 an ounce. Bitcoin (BTC) closed the session at $63,200. After Iran said it would not retaliate against Israel, the major averages opened higher but a rise in oil and interest rates left the different indexes mixed. In addition, those looking for a broadening out of the rally into other sectors after the tech selloff were disappointed as the gains were held to only three sectors. Despite today's bounce, the major averages could struggle this week as investors weigh inflation on Wednesday's CPI release, while the focus for most traders will be on Friday's SpaceX IPO on Friday valuing the company at $1.8 trillion. Earnings releases to watch for on Tuesday include: JM Smucker (SJM), United Natural Foods (UNFI), Casey's General (CASY) and Cracker Barrel (CBRL). Tuesday's Market Moving Economic Calendar: Small Business Optimism Index and Existing Home Sales. *Charts of the various market timing components can be found by going to the Market Edge Home page and clicking on 'Market At A Glance', which is located on the right-hand side of the page just below the 'Market Recap' section. Comments or questions can be sent to: support@marketedge.com Significant Numbers To Watch DJIA
S&P 500
NASDAQ
Trade Trigger Stocks (6/08/2026) Trade Trigger Stocks are stocks which are breaking through significant resistance (bullish) or support (bearish) areas. The 'Entry Price' is the level that needs to be penetrated to qualify as either a buy or short sale breakout. Below is a selection of the 14 Trade Trigger stocks for today. Buy Candidates
Short Sale Candidates
Market At-A-Glance Charts (6/08/2026)
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