Summary

Equities sold off sharply this week, with the Nasdaq leading declines at -3.81%, the S&P 500 falling -2.51%, and the Dow slipping -1.38%, as the 10-year Treasury yield edged down -1 basis point to 4.46%. The labor market showed continued resilience, with nonfarm payrolls adding +172K jobs in May, well ahead of the +88K estimate, alongside an upward revision to April from +115K to +179K and a steady unemployment rate of 4.3%. Inflation, however, remained the key concern, as headline CPI rose +4.2% year over year and producer prices ran hotter than expected, with PPI jumping +1.1% month over month against a +0.7% estimate. In housing, MBA Mortgage Applications surged +10.8% for the week ending June 5th and Existing Home Sales rose +3.2% in May to 4.17 million units. With consumer and producer prices running hot, traders are now pricing in a +68% probability of a rate hike by the December meeting, with +1 hike fully priced in by March 2027. On the corporate side, Oracle (NYSE: ORCL) fell -8% after announcing plans to raise an additional $20 billion in equity and debt despite a strong beat on remaining performance obligations, Casey’s General Stores (NYSE: CASY) soared +20% on strong fiscal Q4 earnings and a +14% dividend hike, and SpaceX (NYSE: SPCX) is set to debut tomorrow at an expected $1.8 trillion valuation in what is poised to be one of the largest public offerings in history. Risk assets remained under pressure, with WTI Crude falling -4.5% on a mixed Middle East picture, spot gold declining -2.7%, and spot silver slipping -0.86%, while Bitcoin rallied +3.1% after the prior week’s nearly -14% drop and the dollar declined -0.86%.

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10-Year Treasury Yield

• Current Rate: 4.46% (as of June 11, 2026) 
• Week-to-Date Movement: -1bps (from 4.47% on June 4, 2026)  

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Major U.S. Equity Indices Performance

• S&P 500: 7,563.63 → 7,394.30 (-2.51% WTD)  
• Dow Jones Industrial Avg: 51,561.93 → 50,848.75 (-1.38% WTD)  
• Nasdaq Composite: 26,830.96 → 25,809.66 (-3.81% WTD)

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Notable Market Events

Macroeconomic Data: 

Nonfarm payrolls data showed the US added +172K jobs in May, comfortably beating the +88K estimate, while the April figure was revised upward from +115K to +179K and the unemployment rate held steady at 4.3%. Initial Jobless Claims rose to 229K, above the 220K estimate. On the inflation front, tensions in the Middle East continued to weigh on prices. Headline CPI came in mostly in line with expectations, rising +4.2% year over year and +0.5% month over month, while Core CPI rose +2.9% year over year and +0.2% month over month. Producer prices, however, ran hotter than expected, with PPI jumping +1.1% month over month against a +0.7% estimate and +6.5% year over year. In housing, MBA Mortgage Applications surged +10.8% for the week ending June 5th, a sharp rebound from the -2.5% decline the prior week, and Existing Home Sales rose +3.2% in May to 4.17 million units, signaling improvement within the sector.  

Economic Policy: 

Consumer and producer prices ran hot in May, further raising the odds of rate hikes into year end. As investors continue to navigate a challenging macroeconomic and geopolitical backdrop, it remains to be seen whether the US can strike a deal with Iran to reopen the Strait and ease pricing pressures. As of Thursday’s close, traders are pricing in a +68% probability of a rate hike by the December meeting, with one rate hike fully priced in by the March 2027 meeting.

Business: 

Shares of Oracle (NYSE: ORCL) fell -8% after the company announced on its earnings call plans to raise an additional $20 billion in equity and debt on top of what was previously announced. The selloff came despite Oracle’s remaining performance obligations rising to $638 billion as of May 31st, comfortably beating the street consensus of $595.67 billion. Casey’s General Stores (NYSE: CASY) soared +20% after reporting strong fiscal Q4 earnings and hiking its quarterly dividend by +14%. SpaceX (NYSE: SPCX) is set to debut tomorrow and is poised to become one of the largest public offerings in history, with the company expected to be valued at $1.8 trillion. Notably, SpaceX is allocating a smaller than expected portion of its blockbuster IPO to retail investors — while earlier expectations called for roughly 30% of the deal to be reserved for retail, the company now plans to direct a percentage in the low 20s to retail investors, including international individuals, online brokerages, and private bank clients. 

Markets: 

Risk assets remained under pressure in June. Precious metals pulled back, with spot gold and spot silver declining -2.7% and -0.86% respectively. WTI Crude fell -4.5% as a mixed picture from the Middle East continues to linger. Bitcoin rallied +3.1% after a nearly -14% drop the previous week, while the dollar declined -0.86%. 

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Stock Sector Performance

All performance figures and market events are sourced from Bloomberg as of market close 6/11/2026, using the prior Friday’s market open as the start date.

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