Markets at Close
Tech rout. Nasdaq broke support, down -2.21%. S&P -1.44%, Dow -0.09%. Russell 2000 -0.96%.
U.S. Indices:
- S&P 500: 7,365.46 (-1.44%)
- Dow: 51,666.84 (-0.09%)
- Nasdaq: 25,587.04 (-2.21%)
- Russell 2000: 2,975.48 (-0.96%)
- VIX: 19.49 (+12.79%)
Futures (post-close):
- S&P +9.75 (+0.13%)
- Dow +20 (+0.04%)
- Nasdaq +71 (+0.24%)
- Russell 2000 +2.30 (+0.08%)
Asia Overnight (crater):
- Nikkei 225: 69,788 (-3.55%)
- KOSPI: 8,203 (-9.99% ❌)
- Hang Seng: 23,336 (-1.82%)
- SSE Composite: 4,106 (-1.37%)
Europe:
- DAX: 24,893 (-0.98%)
- CAC 40: 8,340 (-0.71%)
- FTSE 100: 10,428 (-0.09%)
Semiconductors Slaughtered
Memory and AI chip names led the decline:
| Ticker | Close | Change |
|---|---|---|
| MU | 1,051.77 | -13.18% ❌ |
| NVDA | 200.04 | -4.13% |
| INTC | 132.28 | -6.14% |
| SNDK | 1,963.60 | -13.64% |
Micron reports tomorrow AMC. Consensus: $1.12 EPS. Today’s drop may have priced in a miss.
Defense Sector Rallies
Geopolitical premium intact — U.S.-Iran nuclear dispute (LVL 5) keeps defense bid firm:
| Ticker | Close | Change |
|---|---|---|
| RTX | $186.39 | +2.51% ✅ |
| LMT | $503.67 | +2.04% ✅ |
| GD | $350.34 | +2.03% ✅ |
| NOC | $513.22 | +1.16% |
| BA | $216.71 | -1.87% |
| PLTR | $116.70 | -2.34% |
Commodities & Currencies
Commodities:
- Gold: $4,112.60 (-0.89%)
- WTI Crude: $72.73 (-0.66%)
- Brent: $76.58 (-0.65%)
- Silver: $61.43 (-1.03%)
- Copper: $6.13 (-0.30%)
- Natural Gas: $3.19 (+0.19%)
Crypto (risk-off):
- BTC: $62,648 (-2.04%)
- ETH: $1,665 (-3.53%)
- SOL: $69.65 (-3.09%)
- XRP: $1.11 (-1.72%)
Bonds (flight to quality):
- 10Y: 4.493% (-0.35%)
- 5Y: 4.261% (-0.61%)
- 30Y: 4.940% (-0.14%)
Geopolitical Intel (ThinkCreate)
Priority Threats:
-
[LVL 5/10] — U.S.-Iran nuclear inspection dispute
Clouds Hormuz de-escalation. Strait transit resumed, but toll negotiations fragile. Defense sector bid intact. -
[LVL 4/10] — Flooding in Turkey
Green flood alert, heavy infrastructure impact. Regional disruption low. -
[LVL 4/10] — Forest fires: Syria, Australia
Seasonal risk, low global impact. -
[LVL 3/10] — UN evacuates sailors from Hormuz
Rubio warns against Iran transit tolls. First diplomatic back-and-forth since ceasefire. -
[LVL 3/10] — Colombia joins U.S. “Shield of the Americas”
Aug 7 entry date announced. Regional security realignment. -
[LVL 3/10] — Peru election fraud allegations
Sánchez won’t recognize Fujimori government. Political instability brewing.
Live Data Snapshot:
- Commercial flights: 4,869 | Military: 154 | Private: 2,010
- Tracked/flagged aircraft: 678
- Vessels: 11
- Active satellites: 547
- GPS jamming events: 1
- Earthquakes (24h): 40
- GDELT incidents: 1,007
Defense Stocks (ThinkCreate):
RTX $186.39 (+2.51%) | LMT $503.67 (+2.04%) | NOC $513.22 (+1.16%)
GD $350.34 (+2.03%) | BA $216.71 (-1.87%) | PLTR $116.70 (-2.34%)
Commodities:
WTI: N/A | Brent: N/A
(Scanner feeds unavailable)
Earnings Recap: June 23
✅ FDX (FedEx) — Beat, But Cautious Guide
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $5.95 | $6.31 | Beat +6.0% ✅ |
What Happened:
- Q4 revenue boosted by premium parcel and freight volumes
- FY27 guidance cautious: tariff policy whiplash weighing on outlook
- Management cited freight market uncertainty, trade volatility
Market Reaction:
Stock dropped -3.51% AH to $317.24 despite the beat. Guidance overshadowed results.
Bottom Line:
FedEx execution is solid, but macro fog is thick. Tariff uncertainty = no visibility. Hold until policy stabilizes.
✅ CCL (Carnival) — Beat +21%
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $0.34 | $0.41 | Beat +21.1% ✅ |
Cruise demand resilient. No AH reaction. Consumer spending still firm in leisure travel.
❌ WOR (Worthington Enterprises) — Miss -8.5%
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $1.06 | $0.97 | Miss -8.5% ❌ |
Industrial slowdown visible. Materials pricing pressure.
✅ ICLR (ICON Public) — Beat +3%
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $2.43 | $2.50 | Beat +3.0% ✅ |
Biotech CRO demand steady. Quiet beat, no drama.
✅ KFY (Korn Ferry) — Beat +1.4%
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $1.38 | $1.40 | Beat +1.4% ✅ |
Fee revenue growth strong. Shareholder capital return active.
❌ SUNB (Sunbelt Rentals) — Miss -3.2%
The Numbers:
| Metric | Estimate | Actual | Result |
|---|---|---|---|
| EPS | $0.76 | $0.74 | Miss -3.2% ❌ |
Equipment rental demand softening. Construction slowdown visible.
Earnings Tomorrow (June 24)
Key Name:
- MU (Micron Technology) — AMC, Est $1.12 EPS
Memory sector bellwether. Today’s -13.2% drop may have priced in a miss. Watch guidance closely.
17 total reports scheduled. No other large caps.
Bottom Line
Tech sold off hard. Asia cratered overnight (KOSPI -10%). VIX spiked 12.8% to 19.49. Defense sector held — geopolitical risk premium intact.
FedEx beat earnings but guided cautiously — tariff volatility weighing. Stock down -3.5% AH.
Micron reports tomorrow — critical for memory sector. Today’s -13.2% selloff may have priced in a miss. Watch guidance.
Iran nuclear dispute (LVL 5) clouds Hormuz normalization. Strait transit resumed, but negotiations fragile.
Rotation out of tech accelerating. Semis hit hardest. Defensives holding.
Data: Yahoo Finance, ThinkCreate Intel, GDELT, ADS-B Exchange. All times UTC.