Good morning.
The Fast Five → Trump signs executive orders on quantum computing, SPCX 3-day slide wipes out most IPO gains, SpaceX also readies its $20B bond debut, Oracle cuts 21,000 jobs for $50B AI buildout, and Alan Greenspan, long-serving US Fed chair, dies at 100…
📌 This Startup is Growing 23X Faster than Nvidia >>
(from Brownstone Research)
Calendar: Full Calendar »
Today:
Flash Manufacturing PMI, 9:45A
Flash Services PMI, 9:45A
Tomorrow:
New Home Sales, 10:00A
Your 5-minute briefing for Tuesday, June 23:
BEFORE THE OPEN
As of market close 6/22/2026.
Pre-Market:
Market Wrap:
Dow +148 (+0.29%), S&P -0.37%, Nasdaq -1.32%
Tech weakness dragged the broader market lower
Investors rotated out of several Magnificent Seven stocks
SpaceX fell 16% for its third straight losing session
Asian markets fell, led by losses in South Korea
Progress in US-Iran talks pushed oil prices lower
Investors remain focused on earnings and AI demand
EARNINGS
Here’s what we’re watching this week:
Today: KB Home $KBH ( ▲ 1.12% )
FedEx $FDX ( ▼ 0.76% ) - $6.41 EPS (+5.6% YoY) with revenue expected to arrive at $24.0B (+8% Yoy)
WED: Jefferies $JEF ( ▼ 1.53% )
*Micron Technology $MU ( ▼ 9.0% ) - average EPS for fiscal Q3 was $20.05. Revenue is expected to surge 276% YoY to $35B
THU: *Darden Restaurants $DRI ( ▲ 0.01% ), Lindsay Corp $LNN ( ▲ 0.69% ), *McCormick $MKC ( ▲ 2.47% )
Forget SpaceX, Elon is Now Powering
the Next Hot IPO
While everyone was distracted by the SpaceX IPO, Elon Musk quietly started backing a NEW AI startup…
That has been called "the fastest-growing business in the history of capitalism."
Even though this has nothing to do with robots, self-driving cars, and rockets…
It's growing faster than Tesla… faster than SpaceX… and even 23 times faster than Nvidia.
- a sponsored message from Brownstone Research -
HEADLINES
President Trump on Monday signed two executive orders focused on the emerging realm of quantum computing.
Shares of the rocket company plunged more than 16% on Monday, leaving the stock up only 14% from its $135 IPO price.
S&P 500, Nasdaq slide as Big Tech, SpaceX hammered (more)
Fed's Goolsbee says inflation going the wrong way (more)
Treasury Department authorizes Iranian oil sales through August (more)
Gasoline prices tumble for sixth straight week (more)
Dollar firms on hawkish Fed bets (more)
Gold falls as inflation risks outweigh progress in US-Iran talks (more)
SpaceX readies its $20B bond debut, reports $100.8B cash (more)
Alphabet stock sinks as Nobel AI scientist defects to Anthropic (more)
Nvidia’s stock struggles as Kalshi traders bet chip prices will come down (more)
Getty Images surges 145% after announcing OpenAI deal (more)
Qualcomm nears deal for AI chip startup Modular (more)
Oracle cuts 21,000 jobs as it prepares $50B AI buildout (more)
Tesla faces federal probe after Model 3 slams into home, killing woman (more)
Morgan Stanley plans $1.3B tower for Dallas expansion (more)
Private equity zombies expected to multiply as deal lull drags (more)
Alan Greenspan, long-serving US Fed chair, dies at 100 (more)
DEALFLOW
M+A | Investments
AbbVie sharpens immunology focus with $10.9B Apogee deal
CRH in $8.5B Arcosa deal to ride North America infrastructure boom
RWE spends $4.1B on power grid stake
VC
Upscale AI, Inc., an AI networking infrastructure company, raised $190M in Series A-1 financing
Bionyra Pharma, a clinical-stage biopharma company for immune-mediated inflammatory diseases, raised $165M in Series A funding
fomo, a trading platform, raised $75M in Series V funding
Nura Bio Inc., a clinical-stage biopharma company developing neuroprotective small molecule therapies, raised $73.8M in Series B funding
Vedana Therapeutics, a biotech company developing new therapies for migraine prevention, raised $46M in Series A funding
American Perpetuals Exchange, a decentralized financial infrastructure and derivative trading systems, raised $30M in funding
Ploy, a marketing platform, raised $27M in Seed funding
Syntax Bio, a synthetic biology company programming new cell therapies, expanded its Series A to $14.4M
Clair Health, a developer of wearable hormone monitoring systems for women, raised $11.6M in Seed funding
Cargofy, an AI-powered freight operations and autonomous logistics platform, raised $11M in Series A funding
SubBase, a trade-specific construction material procurement platform, raised $7M in Series A funding
Orthogonal, a discovery, orchestration, and payments layer for AI agents, raised $4.3M in Seed funding
Swsh, a digital fan engagement and photo-sharing platform for live experiences, raised $4M in Seed funding
CRYPTO
BULLISH BITES
🍎 Why Apple’s war chest can’t win the memory war.
📊 Nonstop trading, loads of leverage. How ‘perp futures’ are shaking up Wall Street.
⏳ More Americans have a plan to age in place.
🤫 New York magazine rounds up this summer’s Hamptons gossip.
DAILY SHARES
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