US Morning News Call | Trump Urges Iran-Israel Restraint as Renewed Strikes Send Oil Prices Surging

Key Takeaways:

• Trump Urges Iran-Israel Restraint as Renewed Strikes Send Oil Prices Surging

• Nvidia Partners with SK Hynix for Memory Chips

• Marvell Technology Added to S&P 500 Index Effective June 22

• Alphabet Signs $920 Million Monthly AI Cloud Services Agreement with SpaceX

• Apple's WWDC to Showcase AI Strategy and Enhanced Siri Capabilities

🔔Before the Bell

Nasdaq and S&P 500 futures rose early Monday as chip stocks rebounded from Friday's sell-off, while Dow Jones Industrial Average futures edged lower as Iran and Israel exchanged strikes, threatening a fragile ceasefire.

$E-mini NASDAQ 100 Futures (SEP6) (NQmain.US)$ went up by 0.73%;

$E-mini S&P 500 Futures (SEP6) (ESmain.US)$ went up by 0.37%;

$E-mini Dow Futures (SEP6) (YMmain.US)$ went down by 0.06%.

Trump Urges Iran-Israel Restraint as Renewed Strikes Send Oil Prices Surging

President Trump called on Iran and Israel to "immediately stop shooting" after Tehran launched multiple missile waves at Israel in response to an Israeli airstrike on a Hezbollah command center in Beirut, marking the most direct confrontation since the U.S.-brokered April ceasefire. The escalation pushed $Brent Last Day Financial Futures (SEP6) (BZmain.US)$ and $Crude Oil Futures (SEP6) (CLmain.US)$ sharply higher amid fears of a broader conflict, while OPEC+ agreed to raise output targets by 188,000 bpd from July.

Nvidia Partners with SK Hynix for Memory Chips

$NVIDIA (NVDA.US)$ selected $SK Hynix (000660.KR)$ as the memory supplier for its new Vera chip. CEO Jensen Huang announced expanded partnerships with Hyundai Motor for self-driving cars, robo-taxis, and autonomous mobility development.

Marvell Technology Added to S&P 500 Index Effective June 22

Chipmaker $Marvell Technology (MRVL.US)$ will be added to the S&P 500 index effective June 22. The inclusion strengthens the IT sector's presence within the benchmark index as part of the quarterly rebalance.

Alphabet Signs $920 Million Monthly AI Cloud Services Agreement with SpaceX

$Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ parent Alphabet has entered into a massive AI cloud services agreement with $SpaceX (SPCX.US)$ worth $920 million per month, representing a significant expansion of their business relationship in artificial intelligence infrastructure services.

Apple's WWDC to Showcase AI Strategy and Enhanced Siri Capabilities

$Apple (AAPL.US)$ will host its Worldwide Developers Conference on June 8, focusing on artificial intelligence strategy and Siri improvements. Bank of America estimates an enhanced agentic Siri could generate up to $30 billion in additional revenue by 2030.

OpenAI Plans Largest-Ever ChatGPT Overhaul to Drive Revenue

OpenAI is preparing its biggest ChatGPT upgrade since launch, transforming it into a 'super app' by integrating programming tools and AI agents to capture high-margin enterprise customers ahead of a planned listing this year.

🪙Crypto News

$Bitcoin (BTC.CC)$ climbed +0.81% to 63376.86;$Ethereum (ETH.CC)$ fell -0.19% to 1669.66.

Bernstein: Bitcoin's 'Boring Cycle' Doesn't Undermine Store-of-Value Thesis Despite $2.6B ETF Outflows

Bernstein analysts argue that bitcoin's long-term store-of-value thesis remains intact despite $2.6 billion in spot Bitcoin ETF outflows in 2026, noting institutional adoption has broadened across wealth platforms, banks, pension funds, and sovereign funds. Corporate treasuries—led by Strategy's $7.5 billion STRC-funded accumulation—have offset ETF liquidations, while retail capital has rotated into AI, leaving bitcoin with a "healthier market structure" of diversified ownership.

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