Weekly Market Update Ending June 12th, 2026

Sector Moves Worth Noting

I have never had so many people ask me if they should buy or wait out an IPO as I have had these past 7 days as with SpaceX. The biggest story of the week was not a sector (for once) it was the successful debut of SpaceX. For the largest IPO in history, the rollout was remarkably smooth. Elon Musk’s net worth pushed toward the trillion-dollar mark, reminding investors that capital continues to flow aggressively toward companies building the infrastructure of the future.

Precious metals also woke up late in the week. Gold, silver, and copper all rallied as investors balanced strong economic data against lingering concerns about inflation, deficits, and global uncertainty. Copper in particular continues to attract attention as the market looks ahead to AI infrastructure, data centers, electric vehicles, and power grid expansion.

Retail quietly had an impressive week. Companies such as Target, TJX, and Ralph Lauren benefited from improving consumer sentiment and stronger than expected spending trends. Despite ongoing concerns about household budgets, consumers continue to show a willingness to spend when they perceive value.

Software struggled (all over again). Adobe, Oracle, Microsoft, and several other enterprise software names pulled back roughly 5 percent during the week as investors rotated toward more cyclical opportunities and semiconductor exposure.

Semiconductor manufacturing was one of the strongest groups in the market, gaining roughly 9 percent for the week. Intel and AMD led the charge as investors continued to position for expanding AI demand, domestic chip production, and growing infrastructure spending.

One Big Idea I’m Watching

The market appears to be entering a new phase where in year rising capital expense increases for the Magnificent Seven are based on bonds or more shares being sold into the market. The reality is this, the days of taking from cash flow are about over. Oracle, Meta, Amazon, and (Alphabet) Google are taking the measures above to supplement where their increases are coming from.

With respect to AI: What is gaining traction is the number of NIMBY cities and states is increasing by the month. Seattle just put an 18-month moratorium on new data centers within the city limits.

Also, looking to see if the other plays in the space public companies might catch the new shooting stars tail to go up for an elevator (or rocket) ride. Or do they get more money sucked out of them for more purchasing of shares in SpaceX? I have a few of these alternate space companies, sold a couple companies at +20% profits. I will stay long on the last two companies (for now).

What I’m Avoiding

I’m continuing to avoid chasing excitement simply because it is moving quickly.

The market has developed a habit of creating a new favorite toy, er I mean story, every one to two weeks. Sometimes those stories become extraordinary investments. Other times they become expensive lessons. The rest of them make me yawn.

When valuations disconnect too far from business fundamentals, risk rises whether investors acknowledge it or not. Strong companies deserve premium valuations. Weak companies wrapped in exciting narratives do not.

Patience remains a competitive advantage.

Looking Ahead

Next week may be more important than many investors realize.

Kevin Warsh’s as the FED Chief will have his first major policy meetings midweek. He would be expected to provide the investor community (and the 7 Fed Governors) with additional clarity regarding his stamp on economic priorities, interest rate policy, and the administration’s longer-term strategy. Markets have spent much of the year reacting to uncertainty. Any additional visibility could have a meaningful impact on rate hikes or cuts going forward.

Investors should also continue watching commodity prices, oil markets, and bond yields. Falling oil prices have helped ease some inflation concerns, but the relationship between economic growth, inflation, and interest rates remains one of the most important stories in the market.

The market continues to climb a wall of worry. The question is not whether concerns exist. The question is whether earnings, innovation, and capital investment remain strong enough to overcome them.

Here we are at the end of the Weekly Market Update, and I have not even mentioned a possible MOU (Memorandum of Understanding) being signed this weekend between USA and Iran. Why? Because it has become an “I will believe it when I see it in ink” news event for me or maybe just more yawning material.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions.