Breakfast News: War Stops, Futures Pop, Oil Drops

Breakfast News: War Stops, Futures Pop, Oil Drops

June 15, 2026

| Friday's Markets | | --- | | S&P 500 7,431 (+0.5%) | | Nasdaq 25,889 (+0.31%) | | Dow 51,202 (+0.7%) | | Bitcoin $63,507 (+0.28%) |

Source: Image created by Jester AI.

1. Futures Jump as U.S.-Iran Truce Announced

Stock futures jumped after news broke of an agreement between the U.S. and Iran to end their conflict in the Middle East, set to be signed on Friday, leading to the opening of the Strait of Hormuz and the free flow of oil. In pre-market trading, S&P 500 futures rose around 1.2%, with Nasdaq futures gaining more than 2%. Oil prices quickly fell, with benchmark WTI crude below $81 per barrel early this morning.

• Late recovery leaves stock market flat: Despite dips early in the week, ahead of the excitement of Friday's SpaceX (SPCX +0.05%) IPO, the S&P 500 ended the week up 0.65% with the Nasdaq up 0.70%.
• First challenge for new Fed head: The Fed's meeting to set interest rates takes place today – the first under new chair Kevin Warsh. The CME FedWatch tool shows a 96.6% probability of no change, with a greater than 50% chance of a rate rise by the end of the year.

2. Paramount Gets the Green Light

The Department of Justice announced its approval of the Paramount Skydance (PSKY 0.10%) takeover of Warner Bros. (WBD 1.64%) Friday afternoon. The deal would end a long-standing Hollywood rivalry, giving Paramount control of media outlets including CNN and HBO Max – with the latter to combine with Paramount+ to reach around 200 million subscribers. Paramount stock gained over 4% in pre-market trading, with Warner largely unchanged.

• "The transaction is not likely to result in harm to competition or American consumers": The Antitrust Division has not announced requirements for any divestitures, clearing the way for a merger that's raised political concerns – Paramount CEO David Ellison's father Larry is a major donor to President Trump.
• "Fewer opportunities for creators, fewer jobs ..., higher costs, and less choice": An open letter signed by over 1,400 actors, directors, and filmmakers had opposed the takeover, and California's Attorney General Rob Bonta has yet to decide whether to try to block the deal.

3. Volatility is the Price of Space Investing

Lou Whiteman
Team Hidden Gems

Rocket Lab (RKLB 0.81%) shares fell by 12% Friday, the first day of trading for SpaceX, with Firefly Aerospace (FLY +1.34%) down 19%, Redwire (RDW 4.51%) down 11%, and AST SpaceMobile (ASTS 2.83%) down 15%. It would be pretty easy to conclude that the moves were related to SpaceX, with Elon Musk's $2 trillion space giant pulling capital away from smaller space names.

The best advice is not to get caught up in near-term volatility, but to focus on the quality of the individual businesses.

Investors in space companies need to buckle up. These are highly valued stocks in the early stages of their growth trajectory. We shouldn't be surprised if any or all of these stocks – SpaceX included – lose half their value or more in the quarters to come, even if they turn out to be fabulously successful investments.

So it is when investing in companies attempting to boldly go where no one has ever gone before.

4. This Week's Key Earnings to Watch: KMX, ACN, and KR

• CarMax (KMX 2.53%) is due to release first-quarter earnings for fiscal 2027 Wednesday, following a 47% fall in non-GAAP EPS year over year (YoY) in the final quarter of 2026 – as sales remained sluggish in the competitive used car market, and management raised its cost reductions target.
• Accenture (ACN +4.62%) will post Q3 results Thursday, after TMF chief investment officer Andy Cross noted "the challenges the world's largest digital consulting firm is facing" – with only a 1% rise in Q2 bookings in local currencies. Accenture is recommended by both Team Hidden Gems and Team Rule Breakers.
• Kroger (KR +2.85%), recommended in Dividend Investor, reports Q1 Thursday. Digital sales helped the retail giant grow profit 37% YoY in its previous quarter, though management expects comparable sales growth of only 1-2% in the current year. Kroger has raised its dividend for 20 consecutive years.

5. Your Take

What's a region or international market you're watching, and why?

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