Daily News 19th June 26
Daily News
Kospi Extends Record Run, Nasdaq Climbs 2% on Chip Rebound; Oil Heads for 10% Weekly Loss as US-Iran Deal Takes Hold, Gold Slips Below $4,200
19 June 2026
Today in Brief
Asia-Pacific markets traded mixed on Friday, with South Korea's Kospi extending its record run as Samsung Electronics and SK Hynix hit all-time highs. U.S. stocks staged a strong Thursday comeback — the S&P 500 gained 1.08% to 7,500.58, the Nasdaq surged 1.91% to 26,517.93, and the Dow added 72 points to 51,564.70 — led by Intel jumping 10.6% after Trump confirmed an Apple-Intel chip partnership, with Nvidia and Micron also rising. Gold slipped below $4,200 on Friday as the Fed's hawkish signals outweighed the positive impact of the US-Iran peace deal, while crude oil hovered around $76 and was on track for a roughly 10% weekly decline as the Strait of Hormuz reopened.
Trump called the Iran deal an "unconditional surrender" and said his power has "no limits," while the U.S. Navy officially lifted its blockade of Iran's ports. The Bank of England held rates at 3.75%, and Japan warned it is ready to intervene in currency markets at any time to support the yen. In corporate news: Meta signed new AI computing deals with data center firm Crusoe for 1.6 gigawatts of capacity; SpaceX received investment-grade ratings from Moody's, Fitch, and S&P following its Nasdaq IPO; Pfizer reaffirmed its 2026 revenue guidance of $59.5–$62.5 billion amid a CFO transition; and Amazon is exploring selling its Trainium AI chips directly to companies to challenge Nvidia.
South Korea's Kospi extends record run as Asia markets open mixed
Asia-Pacific markets traded mixed on Friday, with South Korea's benchmark Kospi extending its record-setting run as shares of Samsung Electronics and SK Hynix climbed to all-time highs. Investors also assessed the durability of a U.S.-brokered peace agreement with Iran after U.S. Vice President JD Vance said any economic relief for Tehran would depend on the country meeting its obligations under the deal. "The United States isn't giving up a cent of money to Iran," Vance said. "The only way the Iranians get any of these resources ... is if they comply fully" with the terms of the deal.
S&P 500 closes higher, Nasdaq climbs nearly 2% as chips fuel comeback from Fed sell-off
U.S. stocks rose on Thursday, staging a comeback after the Federal Reserve indicated the possibility of a rate hike this year — a move that sparked a sell-off in equities during the previous session. The S&P 500 added 1.08%, closing at 7,500.58, and the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average rose by 72.15 points, or 0.14%, to end at 51,564.70. Intel led chip stocks higher, rising 10.6% after President Donald Trump said the company will partner with Apple on designing chips in the U.S. Fellow semiconductor names such as Nvidia and Micron Technology were also higher by about 3% and almost 9%, respectively.
Gold slipped below $4,200 an ounce on Friday, wiping out gains from earlier in the week
Gold slipped below $4,200 an ounce on Friday, wiping out gains from earlier in the week as hawkish signals from the US Federal Reserve outweighed the positive impact of the US-Iran peace agreement, which pushed oil prices lower and eased inflation concerns. On Wednesday, the Fed left interest rates unchanged as widely expected but indicated increasing support for interest rate hikes this year. Higher borrowing costs tend to reduce the appeal of non-yielding assets such as gold by increasing their opportunity cost. Meanwhile, investors welcomed signs of improving shipping conditions through the Strait of Hormuz after the US-Iran interim peace deal came into effect, ending a prolonged conflict that triggered the largest supply disruption on record.
Crude oil traded around $76 per barrel on Friday and was on track to fall roughly 10% for the week
Crude oil traded around $76 per barrel on Friday and was on track to fall roughly 10% for the week, as investors welcomed improving shipping conditions in the Strait of Hormuz following the implementation of the US-Iran interim peace agreement, which brought an end to a prolonged conflict that triggered the largest supply disruption on record. The US Central Command announced it had lifted restrictions on traffic to and from Iranian ports and coastal waters, while the Joint Maritime Information Center advised vessels transiting the strait to follow a route closer to Oman's coastline to reduce the risk from mines. Tankers carrying previously stranded crude began exiting the waterway on Thursday, and Kuwait said it would begin increasing production.
Trump claims Iran deal is 'unconditional surrender,' says his power has 'no limits'
U.S. President Donald Trump asserted that he has unlimited power and insisted the deal reached with Iran amounts to "unconditional surrender" by Tehran, in an interview with Axios. The U.S. and Iran signed the agreement on Thursday, after three and a half months of conflict that shut the Strait of Hormuz and rattled global energy markets. Trump said he negotiated the agreement to prevent the conflict from triggering a global economic depression, speaking in the interview Thursday evening stateside. The memorandum of understanding includes a 60-day negotiating period to reach a final deal, a reopening of the critical Strait of Hormuz and a framework for nuclear negotiations. Several key details remain unresolved and will be addressed in subsequent negotiations.
U.S. Navy ends blockade of Iran's ports and coastal areas
The U.S. Navy on Thursday lifted its blockade of Iran's ports and coastal areas at the direction of President Donald Trump. "American forces are not impeding the transit of vessels to or from Iranian ports," U.S. Central Command said in a statement on social media. "All U.S. military blockade enforcement efforts have ceased." The end of the blockade comes after Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding Wednesday that aims to end the U.S.-Iran war. Under the agreement, Iran is obligated to allow commercial vessels to transit the Strait of Hormuz without paying tolls for 60 days. Vice President JD Vance told reporters earlier Thursday that Iran has not fired on ships in Hormuz for two consecutive nights. "So far they are honoring their end of the commitment," Vance said.
Bank of England keeps rates steady as it weighs Iran truce
The Bank of England kept interest rates on hold at 3.75% in June, as it has since the start of the U.S.-Iran war, judging it would be premature to raise rates now given uncertainty about the strength of increased inflation pressures. The decision came just after U.S. President Donald Trump signed a deal with Iran to end the conflict — a development which Governor Andrew Bailey said he was "very encouraged" by but would not stop British inflation rising further. The central bank's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll, after external member Megan Greene joined Chief Economist Huw Pill in calling for a quarter-point rate rise. Most other MPC members appeared little closer to raising borrowing costs, broadly sticking with what Bailey calls an "active hold", which he views as an effective tightening compared with market expectations of cuts before the conflict.
Japan vows to act 'any time' on yen as markets brace for intervention
Japan is ready to respond appropriately to exchange-rate moves at any time, the government's top spokesperson said on Thursday as the yen's renewed slide tests Tokyo's resolve to prop up the sagging currency. "We are ready to respond appropriately to currency moves as needed at any time," Chief Cabinet Secretary Minoru Kihara told a regular press conference, when asked about the yen's declines. While a weak yen helps boost corporate profits by making it easier for manufacturers to export goods produced domestically, it increases the burden for firms and households through higher import costs, Kihara said. "We need to scrutinise such effects comprehensively," he said, adding the government will closely watch market developments.
Meta signs new AI computing deals with data center firm Crusoe
Meta Platforms has secured new agreements to get AI computing power from data center developer Crusoe, Bloomberg News reported on Thursday, as it strengthens infrastructure required to support its AI expansion. Meta and Crusoe did not immediately respond to Reuters' requests for comment on the report, which cited people familiar with the situation. Reuters could not independently verify the report. Meta is under contract to buy computing capacity from Crusoe at two data centers, which are located in Childress, Texas, and Warrenton, Missouri, according to the report. Meta is set to get roughly 1.6 gigawatts of capacity combined across the two sites, the report said. A single gigawatt is enough to roughly power 750,000 U.S. homes. The Bloomberg report said that it was not immediately clear how much Meta will be spending or when the computing capacity will be delivered.
SpaceX gets investment-grade ratings with stable outlook from top agencies
SpaceX on Thursday landed investment-grade credit ratings from Moody's, Fitch and S&P Global Ratings, each assigning a "stable" outlook after the Elon Musk-led company's high-profile initial public offering. The consensus signals broad confidence in SpaceX's financial stability, as the company moves forward with a costly and ambitious AI push in a competitive market. Moody's issued a "Baa1" rating, Fitch a "BBB+" and S&P Global Ratings a "BBB" — all signaling that SpaceX's debt is considered investment-grade, generally indicating a moderate credit risk with sufficient capacity to meet financial commitments. Shares of SpaceX fell 1.1% in extended trading after they closed down nearly 4% on Thursday. The company's valuation surged past $2 trillion following its blockbuster Nasdaq debut last week.
Pfizer reaffirms 2026 guidance after CFO transition announcement
Pfizer Inc. confirmed its financial outlook for 2026 on Thursday after announcing the transition of its Chief Financial Officer. The pharmaceutical company reiterated its revenue projection between $59.5 billion and $62.5 billion for the full year. Pfizer also maintained its adjusted diluted earnings per share forecast in a range of $2.80 to $3.00. The company first provided this guidance on December 16, 2025, and confirmed it again during its first-quarter earnings call on May 5, 2026. Chief Financial Officer Dave Denton will leave Pfizer on August 15 to take a position in the consumer goods sector. Cecile Guegan will serve as interim chief financial officer starting August 16. Guegan currently holds the position of senior vice president for finance in Pfizer's global biopharmaceutical business.
Amazon explores selling AI chips to challenge Nvidia
Amazon is in talks to sell its Trainium AI chips directly to other companies for use in their data centers, according to a report from Bloomberg News, citing an interview with Amazon's AI Chief, Peter DeSantis. The move represents an effort to compete with Nvidia and take advantage of growing global demand for AI infrastructure. The strategy targets international customers looking for localized data solutions. Amazon executives said the decision to sell hardware outside of Amazon Web Services does not raise concerns about lost cloud revenue. "We view AI infrastructure as rapidly evolving. And we're constantly looking at ways to get to more customers," said DeSantis.
