“As we learned during the meme stock craze, valuations can always go much higher than you ever imagined, but eventually they do normalize out,” he said in a recent interview with CNBC.<\/p>\n
High valued stocks can continue to rise before eventually returning to levels supported by fundamentals. Niles analysis comes after SpaceX prepares to be added on different indexes.<\/p>\n
Russell<\/a> plans to add SpaceX to its indexes on June 26, after which MSCI<\/a> will follow roughly 10 trading days of the IPO, on June 29. The Nasdaq-100<\/a> will add the stock after about 15 trading days after a recent rule change by the Nasdaq, which fast tracks the inclusion of newly public companies such as SpaceX into indexes that previously had to wait to prove their profitability.<\/p>\n \u2014 Deena Zaidi<\/p>\n Goldman outperforms in banking sector<\/p>\n Goldman Sachs<\/a> is benefitting once again on Monday from its connection to the SpaceX<\/a> debut.<\/p>\n Shares of the bank, which was the lead-left position on the rocket company’s public offering, climbed about 1.5% in Monday’s session. Goldman shares jumped more than 2.6% in Friday trading.<\/p>\n That placed Goldman among the top performers for a second straight day in the Invesco KBW Bank ETF (KBWB)<\/a>. As a whole, the fund ticked down 0.2% on Monday.<\/p>\n Stock Chart IconStock chart icon Goldman Sachs vs. the Invesco KBW Bank ETF (KBWB), 1-day<\/p>\n DoorDash on pace for best day in over a year <\/p>\n Shares of DoorDash rallied more than 11% in afternoon trading Monday, on pace for its best day going back to April 9, 2025. <\/p>\n DoorDash was one of a number of stocks that jumped Monday after a preliminary deal to end the U.S.-Iran conflict removed a major overhang for companies especially vulnerable to higher oil prices. Shares of the food delivery company remain more than 40% off their recent highs. <\/p>\n “We think the potential of a more severe gas price impact has been a modest sector overhang,” Justin Post, research analyst at Bank of America Securities, wrote on Monday. “However, we think DoorDash (-15% since 2\/27), has had the largest margin overhang in the group, and is best positioned to benefit from ME conflict resolution. Reiterate Buy.” <\/p>\n Stock Chart IconStock chart icon DoorDash, 1-day<\/p>\n Gold\u2019s correction is more like a reset than a break in the long-term, Barclays says<\/p>\n Gold bars lie in a safe on a table at the precious metal dealer Pro Aurum. <\/p>\n Sven Hoppe | Picture Alliance | Getty Images<\/p>\n A rebound for gold now looks likely, as it moves closer to Barclays fair value estimate of $4,150 an ounce.<\/p>\n According to Barclays<\/a> analysis, this looks more like a reset than a break in the longer-term case, pointing to the collective impact of the stronger dollar\/stronger equity market combination and a crowded positioning that likely amplified the sell-off.<\/p>\n Gold (AUG<\/a>) briefly touched $4,390.8 an ounce Monday, the highest since June 5th, when gold traded as high as $4,508.7 an ounce.<\/p>\n “We remain constructive on gold because the medium-term supports remain intact: persistent inflation, policy uncertainty and continued reserve diversification should reassert themselves once geopolitical stress stabilizes,” according to a research note published Monday by the Barclays team led by Lefteris Farmakis and Themistoklis Fiotakis. <\/p>\n The yellow metal had hit its 6-month low last week<\/a> on growing concern around higher inflation and a weak technical picture. In a February note, the bank had flagged the risk of a near-term pause in the gold price after an exceptionally strong run. <\/p>\n Barclays recent revisit reflects a normalization in real rates alongside a stronger U.S. dollar and a hawkish central bank policy, rather than weakened structural drivers. With risk-reward improving, gold could see more constructive again especially if geopolitical risks recalibrate. <\/p>\n “We revisit that thesis with gold now down 20\u201325% over roughly 2.5 months, as a Middle East-driven shock has boosted oil, the dollar, yields and equities, outweighing gold’s usual safe-haven support and triggering a sharp correction,” according to Barclays.<\/p>\n \u2014 Deena Zaidi<\/p>\n 39 stocks in the S&P 500 trade at new 52-week highs<\/p>\n On Monday, 39 stocks in the S&P 500<\/a> hit new 52-week highs.<\/p>\n Tickers that hit this milestone included:<\/p>\n Live Nation Entertainment<\/a> trading at all-time high levels back to its IPO in December 2005Hilton Worldwide<\/a>\u00a0trading at all-time highs back to its IPO in December 2013Ralph Lauren<\/a>\u00a0trading at all-time highs back to its IPO in June, 1997Monster Beverage<\/a> (formerly Hansen Natural)\u00a0trading at all-time high levels back to its listing on the NASDAQ in 1992Target<\/a>\u00a0trading at levels not seen since January 2025Citigroup<\/a>\u00a0trading at levels not seen since November 2008Delta Air Lines<\/a>\u00a0trading at all-time highs back to its IPO in March 2007FedEx<\/a> trading at all-time high levels back to its IPO in April 1978Applied Materials<\/a>\u00a0trading at all-time high levels back to its IPO in October 1972Advanced Micro Devices<\/a>\u00a0trading at all-time high levels back to its IPO in September 1972<\/p>\n On the other hand, three stocks traded at new 52-week lows:<\/p>\n \u2014 Christopher Hayes and Lisa Kailai Han<\/p>\n European stocks close higher, oil and gas stocks slump<\/p>\n The pan-European Stoxx 600<\/a> finished Monday’s session in positive territory, up 0.25% as investors saw an end in sight to the Iran war.<\/p>\n Most regional bourses traded higher, with France’s Cac 40<\/a>\u00a0adding 0.4% and Germany’s DAX<\/a> adding 1.1%. Oil and gas stocks weighed on the U.K’s FTSE 100<\/a>, which closed the day down 0.4%.\u00a0<\/p>\n Europe’s sectoral picture was mixed, with oil and gas stocks shedding 3%, and telecommunications stocks losing 1.9%. Meanwhile, the autos sector led gains, adding 2.8% on the day, while the construction sector gained 1.8%.<\/p>\n \u2014 Joseph Wilkins<\/p>\n U.S. and Iran have signed a memorandum of understanding, senior Trump admin official says<\/p>\n People walk at Enghelab Square in Tehran where the Iranian national flag is displayed on a building on June 14, 2026. <\/p>\n – | Afp | Getty Images<\/p>\n The U.S. and Iran have signed a memorandum of understanding, according to a senior administration official told CNBC’s Megan Cassella. <\/p>\n The document was signed electronically on Sunday, and a formal signing ceremony is expected on Friday. <\/p>\n In the memorandum, the administration official said that the two countries agreed on a structure for future negotiations and Iran will not receive any economic benefits of a deal until it takes action on its nuclear program. <\/p>\n The official added that the immediate reopening of the Strait of Hormuz and end of the U.S. naval blockade of the passageway does not mean traffic flows will return to normal in the near-term. However, within two weeks the official said there should be a significant increase in ships moving through it. <\/p>\n \u2014 Megan Cassella and Davis Giangiulio<\/p>\n Bitcoin moves above $66,000<\/p>\n Bitcoin<\/a> rose on Friday, climbing back above the $66,000 level.<\/p>\n The cryptocurrency was last higher by 4.4% at $66,578.69. This comes after it saw a winning week.<\/p>\n Bitcoin is still down on the year, however, seeing a year-to-date loss of nearly 24%.<\/p>\n Stock Chart IconStock chart icon Bitcoin, year-to-date<\/p>\n Reopening plays jump after peace agreement <\/p>\n Vessels are anchored in the Strait of Hormuz, as seen from Musandam, Oman, June 11, 2026. <\/p>\n Stringer | Reuters<\/p>\n Stock Chart IconStock chart icon United Airlines, 1-day<\/p>\n Stocks rise to start the week<\/p>\n U.S. equities jumped on Monday morning.<\/p>\n The Dow Jones Industrial Average rose 607 points, or 1.2%, shortly after 9:30 a.m. ET. The S&P 500<\/a> advanced 1.3%, while the Nasdaq Composite<\/a> gained 2.2%.<\/p>\n \u2014 Sean Conlon<\/p>\n Knicks\u2019 historic NBA championship sends Madison Square Garden Sports stock higher<\/p>\n Karl-Anthony Towns #32 of the New York Knicks celebrates with the Larry O’Brien Championship Trophy after the victory against the San Antonio Spurs in Game Five of the 2026 NBA Finals at Frost Bank Center on June 13, 2026 in San Antonio, Texas. <\/p>\n Ronald Cortes | Getty Images<\/p>\n Madison Square Garden Sports<\/a> shares ticked higher after the New York Knick’s secured their first NBA Championship since 1973 by defeating the San Antonio Spurs in Game 5 of the NBA Finals.<\/p>\n MSGS is up significantly with a year-to-date (YTD) return of roughly 49%. Recently, the stock reached an all-time high after the Knick’s playoff run, climbing roughly $390.12 gaining over 150% over the past 12 months. The stock is currently trading at $384.68.<\/p>\n Last month, Madison Square Garden Sports Corp. reported its fiscal third quarter results, posting revenue of $432.2 million, beating the FactSet consensus of $429.7 million. <\/p>\n Investors are also watching a proposed spin-off that would split the Knicks and the New York Rangers into two separate businesses. According to a recent analysis from Guggenheim<\/a>, could help unlock value of MSGS, along with a potential expansion in Las Vegas and Seattle, which is estimated to bring $450 million to $700 million for the Knicks.<\/p>\n \u2014 Deena Zaidi<\/p>\n New York Fed manufacturing index misses estimate<\/p>\n Factory activity in the New York area slowed more than expected for June, the regional Federal Reserve reported Monday.<\/p>\n The New York Fed’s Empire State Manufacturing Index slipped to 5.7 for the month, a decrease of nearly 14 points from May and below the Dow Jones consensus estimate for 13.9. The index represents the percentage difference between companies reporting growth and contraction.<\/p>\n New orders and shipments both saw sharp declines, while the prices index remained elevated and the employment measure edged higher.<\/p>\n \u2014 Jeff Cox<\/p>\n U.S. expects Strait of Hormuz to be open \u2018toll free\u2019 long term, VP Vance says<\/p>\n Vice President JD Vance speaking with CNBC’s Squawk Box on June 15th, 2026.<\/p>\n CNBC<\/p>\n Vice President JD Vance said Monday that he expects the U.S.-Iran deal will open the Strait of Hormuz without a toll system for the long term. <\/p>\n “Our expectation is that the strait is going to be opened in a toll-free way for the long term, and that’s the sort of thing that we’re going to figure out in these technical negotiations,” Vance told CNBC in an interview. Read more<\/a>.<\/p>\n \u2014 Spencer Kimball<\/p>\n SpaceX, APA and United Airlines among the stocks making moves before the bell<\/p>\n Check out the companies making the biggest moves premarket:<\/p>\n Read here<\/a> for the full list.<\/p>\n \u2014 Davis Giangiulio<\/p>\n Fox Corp. all set to acquire Roku<\/p>\n Roku products arranged in Hastings-on-Hudson, New York, on July 25, 2023.<\/p>\n Tiffany Hagler-Geard | Bloomberg | Getty Images<\/p>\n Fox<\/a> has agreed to acquire Roku<\/a> for $160 per share in cash and FOX Class A stock, putting the valuation of Roku at an enterprise value of $22 billion.<\/p>\n “This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade,” Lachlan K. Murdoch, executive Chair and CEO of Fox Corporation, said in a press release. <\/p>\n The acquisition will create a scaled media and technology platform with super release, engagement and monetization capability. The unification is expected to have one of the largest streaming businesses in the U.S. including Tubi and The Roku Channel, reaching over 100 million households. <\/p>\n The combined company will become the third-largest player in U.S. television by share of viewing, with an attractive mix of FOX’s sports, news, and entertainment content, alongside streaming services Tubi and The Roku Channel.<\/p>\n FOX plans to keep its capital return program, target about $400 million run-rate cost synergies, fund cash consideration with new debt and cash, and reach pro forma net leverage near 2.8x, inclusive of 50% credit for run-rate cost synergies.<\/p>\n In 2019, Fox reoriented the company around live news and sports and a year later acquired Tubi to become one of the most successful businesses in streaming. <\/p>\n “I’m incredibly proud of what our team has built, and the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers, “Anthony Wood, founder, chairman and CEO of Roku, said in a press release. The deal is expected to close in the first half of calendar year 2027.<\/p>\n ROKU resumes trading at 7:30 am ET.<\/p>\n \u2014 Deena Zaidi<\/p>\n UniCredit dismisses ‘false’ Commerzbank claims as takeover tussle continues<\/p>\n UniCredit<\/a> dismissed claims from Commerzbank<\/a> on Monday that its all-share offer is lower than the data suggests, amid an ongoing takeover tussle between the two lenders.\u00a0<\/p>\n UniCredit’s bid for Commerzbank has been challenged by the German bank, which said on June 10 that no institutional investors have tendered.\u00a0<\/p>\n The Italian lender said in a statement that Commerzbank’s claims were “false and without foundation,” adding that “tendered shares are tendered shares.”<\/p>\n UniCredit shares were last seen trading up 0.4%, while Commerzbank shares were down 1.8%.\u00a0<\/p>\n \u2014 Joseph Wilkins<\/p>\n SpaceX rises after record debut<\/p>\n Billboards in Times Square celebrate the SpaceX IPO debut at the Nasdaq on June 12th, 2026. <\/p>\n Adam Jeffery | CNBC <\/p>\n SpaceX shares rose 6% in the premarket<\/a>, looking to build on their record-setting market debut. The stock popped 19% on Friday, marking the biggest initial public offering in history.<\/p>\n \u2014 Fred Imbert<\/p>\n Renault expands rearmament efforts with Thales partnership <\/p>\n Renault<\/a> has agreed a partnership with French defense contractor Thales to produce a new armored vehicle, marking the latest collaboration effort between Europe’s auto and defense sectors. <\/p>\n The vehicle’s role includes reconnaissance, troop coordination and UAV deployment, Renault said, and will support maneuvers on “land forces missions in France and overseas.”<\/p>\n Last week, Mercedes-Benz<\/a>\u00a0announced a partnership with German startup Tytan Technologies to produce anti-drone vehicles, as the European car industry is increasingly turning to the booming defense sector to boost struggling sales.<\/p>\n Renault<\/a> shares were last seen up 4%, rising in line with the broader autos index after the U.S. and Iran agreed a peace deal Sunday night, sending European stocks soaring on Monday.<\/p>\n \u2014 Joseph Wilkins<\/p>\n Japan’s Nikkei 225 hits intraday high; South Korea’s Kospi jumps 5.2%<\/p>\n Pedestrians holding umbrellas walk past a monitor displaying the Nikkei 225 Stock Average figure outside a securities firm on June 15, 2026 in Tokyo, Japan. <\/p>\n Tomohiro Ohsumi | Getty Images<\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0surged to a record intraday high, ending the trading day 5% higher at 69,317.50, while South Korea’s Kospi jumped 5.2% to 8,545.98.<\/p>\n Hong Kong\u00a0Hang Seng Index<\/a> was up 0.56% as of its last hour of trading, while mainland’s CSI 300 rose 2.39% to 4,891.71. Australia’s benchmark S&P\/ASX 200 rose 1.25% to 8,914. India’s Nifty 50<\/a> was last up 1.25%.<\/p>\n \u2014Justina Lee<\/p>\n Europe’s carmakers, airlines rally as energy stocks plummet in morning trade<\/p>\n Peugeot cars are seen parked outside the Stellantis multinational car manufacturer’s plant in Poissy, west of Paris, on April 15, 2026.<\/p>\n Simon Wohlfahrt | Afp | Getty Images<\/p>\n Europe’s carmakers, airlines and defense companies all advanced on Monday, but the region’s oil majors retreated.<\/p>\n Shares in Renault<\/a> were up 5.6% by 8:30 a.m. in London (3:30 a.m. E.T.), while Stellantis<\/a> added 5.6%, with Ferrari<\/a> up 4.5%. BMW<\/a> gained 3.9%.<\/p>\n Travel stocks also gained, with German travel and tourism mainstay TUI<\/a> rising 7.1% and Lufthansa<\/a> adding 5.7%. Shares in low-cost carrier Ryanair<\/a> gained 5.5%. International Consolidated Airlines Group<\/a>, which owns British Airways, Aer Lingus and Iberia, gained more than 4%. <\/p>\n Among regional aerospace stocks, FACC<\/a> gained 7.4%, as Rolls-Royce<\/a> notched 5.4% in morning trade. Airbus<\/a> rose 3.8%.<\/p>\n But energy stocks stumbled, as the tentative Middle East peace agreement dragged oil prices below $80 a barrel for the first time since the U.S.-Iran conflict began.<\/p>\n Var Energi<\/a> plunged 7.3%, Totalenergies<\/a> tumbled almost 5.8%, BP<\/a> was last seen about 4.4% lower, and Shell<\/a> slipped 4.3%.<\/p>\n \u2014 Hugh Leask<\/p>\n European stocks surge in early trade following U.S.-Iran breakthrough<\/p>\n German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, Dec. 30, 2025. <\/p>\n Staff | Reuters<\/p>\n The pan-European Stoxx 600<\/a> index was up 1.2% at the open on Monday, as markets rallied on news that the U.S. had reached a peace deal with Iran, which includes a toll-free reopening of the Strait of Hormuz.<\/p>\n France’s CAC 40<\/a> led the way in early dealmaking with a 1.9% gain, followed by Germany’s DAX<\/a>, which was up 1.8%. The Italian FTSE MIB<\/a> added 1.4%, as the U.K. FTSE 100<\/a> gained 0.8%, reflecting a drop in energy stocks. <\/p>\n Most regional sectors were also comfortably higher. Carmakers soared 3.7%, as construction companies spiked 3.2%, and travel and leisure stocks advanced 2.8%.<\/p>\n \u2014 Hugh Leask<\/p>\n Sun, Jun 14 202611:33 PM EDT<\/p>\n SoftBank surges more than 12% amid broad gains in Asia tech stocks <\/p>\n Asian tech stocks surged Monday, as investors cheered Iran and the U.S. agreeing to a deal to end the Middle East conflict.<\/p>\n Japanese tech investor\u00a0SoftBank<\/a>\u00a0was the best performer among major tech stocks in Asia, rising over 12%.\u00a0Tokyo Electron<\/a>\u00a0and\u00a0Advantest<\/a>\u00a0added 9.19% and 7.69% respectively.<\/p>\n Memory chip behemoths and heavyweights on South Korea’s Kospi Index, Samsung Electronics and SK Hynix gained 4.65% and 6.42%, respectively.<\/p>\n Taiwan Semiconductor Manufacturing Co<\/a>, or TSMC rose 2.16%, while\u00a0Hon Hai Precision, also known as Foxconn, added 2.5%.<\/p>\n \u2014 Justina Lee<\/p>\n Sun, Jun 14 20268:10 PM EDT<\/p>\n South Korea’s Kospi leads gains in Asia as markets rise on Iran-U.S. peace deal <\/p>\n Asia-Pacific markets traded higher early Monday, with South Korea’s Kospi<\/a> leading the advance in the region, rising over 4% at open. The small-cap Kosdaq added 2.34%. <\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0added 3.51%, while the Topix rose 2.43%. Australia’s benchmark S&P\/ASX 200<\/a> was up 1.49%.<\/p>\n \u2014 Justina Lee<\/p>\n Sun, Jun 14 20267:34 PM EDT<\/p>\n Asia-Pacific markets set to open higher as U.S. and Iran agree to a peace deal<\/p>\n Asia-Pacific markets were set to open broadly higher Monday, with an end to the Middle East conflict in sight as the U.S. and Iran have reached a peace deal.<\/p>\n Japan’s\u00a0Nikkei 225<\/a>\u00a0was poised to rise, with the Chicago futures contract at 68,355, compared with the index’s previous close of 66,020.40.<\/p>\n Futures for Australia’s S&P\/ASX 200<\/a> last traded at 8,853, compared with index’s Friday close of 8,804.<\/p>\n Hong Kong\u00a0Hang Seng index<\/a>\u00a0futures were at 24,706, lower than the index’s last close of 24,718.10<\/p>\n Both Iran and the U.S. have agreed<\/a> to a deal, with both sides declaring immediate and permanent termination of military operations on all fronts, according to Pakistan’s Prime Minister Shehbaz Sharif on Sunday. The\u00a0official signing ceremony will be on Friday, June 19, in Switzerland, he added. Pakistan has served as a mediator between the two countries.<\/p>\n In a\u00a0Truth Social<\/a>\u00a0post, Trump said that “the Deal with the Islamic Republic of Iran is now complete,” to reopen the Strait of Hormuz without a toll system and the U.S. will also end the naval blockade of Iran. “Ships of the World, start your engines,” Trump said. Let the oil flow!”<\/p>\n \u2014 Justina Lee <\/p>\n Sun, Jun 14 20266:25 PM EDT<\/p>\n SpaceX traders push perpetual futures higher ahead of stock futures<\/p>\n Crypto traders trying to get ahead of the traditional stock market were pricing in more upside for SpaceX Sunday evening, following its highly successful public debut on Friday.<\/p>\n The SpaceX perpetual futures market on Hyperliquid<\/a> saw a burst of activity around 5 p.m. ET, with the perp jumping from about $166 to above $180 before pulling back.<\/p>\n Because the contract trades with leverage, the move could also be amplified by a short squeeze, where traders who bet against the contract were forced to buy back positions as prices surged.<\/p>\n \u2014 Tanaya Macheel<\/p>\n Sun, Jun 14 20266:15 PM EDT<\/p>\n SpaceX sees highest retail investor interest in recent IPO history, data shows<\/p>\n SpaceX<\/a>‘s IPO had the largest buy-in from retail investors in recent history, according to VandaTrack.<\/p>\n The firm told clients that individual investors bought around $118 million worth of shares in the rocket company on balance during the session. SpaceX accounted for more than half of all net buying for single stocks in the session, according to Vanda.<\/p>\n But Vanda said retail traders simultaneously dumped big year-to-date winners last week including Micron<\/a>, Marvell<\/a> and Robinhood<\/a>. Across the board, last week saw the weakest net retail buying since March 2020, Vanda found.<\/p>\n In other words: “The SpaceX IPO was not a boat that lifted all tides for retail investors,” Vanda told clients.<\/p>\n SpaceX opened at<\/a> $150 per share on Friday, marking a roughly 11% gain over its $135 IPO price. Shares surged more than 19% in the session, bringing its market cap above $2 trillion.<\/p>\n \u2014 Alex Harring<\/p>\n Sun, Jun 14 20266:09 PM EDT<\/p>\n Oil prices drop after Trump says Strait of Hormuz will reopen<\/p>\n Oil prices tumbled Sunday<\/a> after President Donald Trump said the U.S. has completed a deal with Iran to reopen the Strait of Hormuz. <\/p>\n U.S. crude<\/a> oil futures were down 4.8% to $80.80 per barrel shortly after 6 p.m. ET. Brent<\/a> futures, the international benchmark, traded 3.9% lower to $83.89 per barrel. <\/p>\n Stock Chart IconStock chart icon Brent, 1-day<\/p>\n Sun, Jun 14 20266:05 PM EDT<\/p>\n Trump says U.S. and Iran reach a deal<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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