Your Evening Briefing

June 11, 2026

Stocks climb, oil drops as Trump calls off strikes on Iran

The S&P 500, Nasdaq 100, and Russell 2000 surged after President Trump posted on Truth Social that he was calling off impending air strikes against Iran and told reporters in the Oval Office that the US and Iran will sign a peace deal soon. Oil plunged on the news.

Energy was the worst-performing sector while materials and industrials were the best-performers, followed by tech.

Wholesale inflation was hotter-than-expected as the producer price index rose by 1.1% in May, ahead of the 0.7% analysts were anticipating.

Stocks that moved higher:

Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and Frontier all surged as oil sank.
Royal Caribbean, Norwegian Cruise Line, and Carnival jumped alongside airlines as falling oil prices lifted fuel-sensitive travel stocks.
FedEx, UPS, XPO, and Old Dominion Freight climbed as freight companies also benefit from lower oil prices.
Intel surged after Bank of America double-upgraded the stock to buy from underperform.
Novo Nordisk climbed after its Wegovy pill received approval from the UK health regulator.
AMC climbed after raising $150 million amid a box office surge that boosted theater traffic.

Stocks that moved lower:

Oracle fell after its earnings report as investors questioned whether its aggressive spending would create a debt problem.
Exxon, ConocoPhillips, and Occidental Petroleum dipped as oil prices fell sharply on the de-escalation news with Iran.
Alibaba, JD.com, and PDD Holdings slipped as a Beijing regulator cracked down on misleading promotion claims tied to China’s annual June 18 shopping festival, referred to as “618.”
XPeng hit a 52-week low as Chinese regulators warned about an intensifying EV price war.

Bond yields and inflation are back in the driving seat for stocks

Oh, and we’re going 150 miles per hour, btw. Read more.

Anthropic’s Mythos gets tired, hates bad users, and wants to be thanked

Reminder: these models are not people, they don’t think, and when you close the tab, the model isn’t pondering your last interaction.

Read more.

US Attorney David Metcalf announced Thursday the arrests of Ruslan Igorevich Tkachuk and Alexander Vladimirovich Ledenev, alleged senior members of AudiA6, a cryptocurrency money-laundering service believed to be responsible for laundering over $389 million. Read more.

Welcome to the OpenAI, Anthropic, and Google price wars
It’s the clearest signal yet that AI models are becoming commoditized.
Alphabet’s Waymo is getting into the subscription — and Uber’s — business
Waymo is hoping its new membership tier will lock in customers and get them to spend more.
JM Smucker says it sold $1 billion worth of Uncrustables in FY2026
After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.
US gas prices drop for the third week in a row to an average of $4.12
Since May 21, prices have fallen from $4.56 a gallon and are currently at $4.12 due to crude oil prices staying below $100 per barrel.
Investors slice $2 billion out of bitcoin ETFs so far in June
The rate of outflows puts the funds on track to far surpass May’s losses.
Marijuana company Trulieve begins trading on NYSE
Trulieve, which went public in 2018 with a Canadian Securities Exchange listing, is now trading on the NYSE under the ticker TRLV.

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