Weekly Market Recap | June 01 – June 07

Analyst Highlights

• Equities weakened across major indexes: The S&P 500 fell 2.85%, Nasdaq dropped 5.09%, and Russell 3000 declined 2.71% for the week.
• Volatility surged as rates repriced: The VIX rose 34.02% as stronger jobs data increased expectations for tighter Fed policy and pressured growth stocks.
• Digital assets saw broad selling: Bitcoin, Ethereum, Solana, and XRP all declined as ETF outflows and Strategy’s sale intensified crypto market weakness.
• Energy markets remained resilient: Oil stayed below $100 despite Hormuz disruption risks, while shrinking inventories kept the market vulnerable to future price spikes.
• Private markets faced liquidity pressure: Private equity and credit managers saw rising investor scrutiny as loan-quality concerns and AI disruption weighed on software valuations.
• AI financing accelerated: Google’s $30 billion SpaceX compute deal and Apollo-Blackstone’s $35 billion Anthropic financing highlighted rising demand for AI infrastructure.

IPO’s in the week

• FutureCorp Space Acquisition Corp. (FTRAU, NYSE) — priced its IPO on June 5, 2026, offering 20,000,000 shares at $10.00 per share.
• INNIO Holding (INIO, Nasdaq) — priced its IPO on June 4, 2026, offering 75,000,000 shares at $27.00 per share. Shares traded lower after pricing, falling 24%.
• InterPrivate Investment Corp. (IPVVU, Nasdaq) — priced its IPO on June 4, 2026, offering 17,500,000 shares at $10.00 per share. Shares traded slightly lower after pricing, falling 10%.
• Liftoff Mobile (LFTO, Nasdaq) — priced its IPO on June 4, 2026, offering 19,000,000 shares at $23.00 per share. Shares traded lower after pricing, falling 52%.
• Long Table Growth Corp. (LTGRU, Nasdaq) — priced its IPO on June 4, 2026, offering 15,000,000 shares at $10.00 per share. Shares were flat after pricing, trading at 00%.
• Quantinuum (QNT, Nasdaq) — priced its IPO on June 4, 2026, offering 26,500,000 shares at $60.00 per share. Shares traded lower after pricing, falling 82%.
• Sunshine Silver Mining & Refining (SSMR, NYSE) — priced its IPO on June 4, 2026, offering 20,000,000 shares at $13.50 per share. Shares traded sharply lower after pricing, falling 37%.
• Applied Aerospace (AADX, NYSE) — priced its IPO on June 3, 2026, offering 32,500,000 shares at $20.00 per share. Shares traded lower after pricing, falling 70%.

Additional IPO Activity: Several SPAC and acquisition vehicle offerings also priced during the week, mostly around the standard $10.00 per share/unit level, including Aeon Acquisition, AmperCap Acquisition, and Keystone Acquisition. Early trading was mostly flat to slightly mixed across these vehicles, while operating-company listings showed wider performance dispersion, led by Sunshine Silver Mining & Refining’s sharp decline, Quantinuum’s weakness, and Liftoff Mobile’s post-pricing drop.

Markets Weekly

1. S&P 500 closed at 7,383.74, falling 216.22 points, or 2.85%, for the week.
2. Russell 1000 closed at 4,017.60, falling 112.30 points, or 2.72%, for the week.
3. Russell 2000 closed at 2,833.50, falling 72.26 points, or 2.49%, for the week.
4. Russell 3000 closed at 4,190.12, falling 116.65 points, or 2.71%, for the week.
5. CBOE Volatility Index (VIX) closed at 21.51, rising 5.46 points, or 34.02%, for the week.
6. Dow Jones closed at 50,866.78, falling 212.10 points, or 0.42%, for the week.
7. Nasdaq closed at 25,709.43, falling 1,377.38 points, or 5.09%, for the week.
8. Bitcoin closed at $63,239.52, falling $8,080.25, or 11.33%, for the week.
9. Ethereum closed at $1,686.40, falling $316.82, or 15.82%, for the week.
10. Solana closed at $66.31, falling $14.78, or 18.23%, for the week.
11. XRP closed at $1.1547, falling $0.1402, or 10.83%, for the week.
12. Gold closed at $4,337.10, falling $138.10, or 3.09%, for the week.
13. Silver closed at $68.94, falling $6.07, or 8.09%, for the week.
14. WTI Crude closed at $90.54, falling $1.62, or 1.76%, for the week.
15. Brent Crude closed at $93.09, falling $1.89, or 1.99%, for the week.

• The Nasdaq 100 sank 5% as AI stocks sold off and rising yields reinforced concerns over stretched valuations and Fed tightening.
• Wall Street strategists viewed the tech selloff as healthy, saying earnings growth and macro support could keep the broader rally intact.
• Oil stayed below $100 despite the Hormuz disruption, supported by U.S. exports and weaker Chinese demand, though shrinking inventories raised spike risks.
• Private equity and credit managers faced investor pressure to return capital as loan-quality concerns and AI disruption weighed on software valuations.
• Bitcoin fell near $60,800 as ETF outflows and Strategy’s sale intensified crypto weakness, signaling broader risk-off pressure across digital assets.
• SpaceX barred China and Hong Kong investors from its IPO over ITAR restrictions, highlighting national-security limits around critical technology listings.
• India’s RBI lifted its dollar short book above $110 billion, using offshore tools to defend the rupee after record weakness.
• Vanguard’s VOO became the first ETF to reach $1 trillion in assets, highlighting strong passive demand for U.S. equities.

Politics Weekly

• Iran fired several missile volleys toward Israel, while Israeli forces said they intercepted all incoming threats and emergency services reported no casualties.
• Trump defended the ceasefire with Iran, pressing both sides to prevent escalation as renewed missile attacks threatened the fragile agreement overnight.
• The U.S. and Iran remained far from a peace deal as asset disputes and regional attacks pressured the fragile ceasefire.
• Houthis announced a complete ban on Israeli ships in the Red Sea, threatening another key trade route as regional tensions widened.
• Ukraine launched drones toward St. Petersburg before Zelenskyy’s UK talks with European leaders on potential negotiations to end the war.
• European leaders joined Ukraine’s call for an immediate ceasefire with Russia after talks in London focused on conditions for peace negotiations.
• Xi visited North Korea to reassert China’s influence over Kim as Pyongyang deepened Russia ties and expanded its nuclear arsenal.
• The EU pushed to revive enlargement talks as leaders sought to curb Russian and Chinese influence across the Western Balkans.

Technology Advancements in the week

• Cybersecurity stocks rallied on AI optimism, with Palo Alto and CrowdStrike up roughly 60% in 2026, making earnings a key growth test.
• Anthropic selected Morgan Stanley and Goldman Sachs to lead its IPO, signaling growing public-market demand for major AI infrastructure companies.
• Xnrgy’s owners explored a sale valuing the data-center parts maker near $10 billion, highlighting investor demand for AI infrastructure suppliers.
• Google signed a $30 billion computing deal with SpaceX, securing Nvidia-powered capacity to meet rising demand for AI services.
• Apollo and Blackstone finalized $35 billion in financing for Anthropic’s AI infrastructure, marking a major step in chip-backed AI funding.
• Moonshot AI sought up to $2 billion at a $30 billion valuation, reflecting strong investor demand for China’s AI startups.

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