• Market recap: The Nasdaq fell almost 1% yesterday after a tech rebound faded, with Micron (MU) and Broadcom (AVGO) down 1%. While the Dow gained modestly, the S&P 500 slumped. Source: CNBC.
• Anthropic releases advanced AI: Anthropic debuted Claude Fable 5, a version of its highly capable Mythos AI model that was previously restricted over security concerns. The release includes safeguards. Source: BBC.
• GM expands into energy storage: GM (GM) plans to develop sodium-ion batteries for grid-scale energy storage by 2028, diversifying beyond EVs as demand slows. The company is also expanding vehicle-to-grid capabilities and charging features. Shares fell 1% premarket. Source: NY Times.
• Kalshi updates: Kalshi plans to require employer disclosure for certain prediction markets tied to sensitive or nonpublic information, aiming to deter insider trading. The move comes as Kalshi's perpetual futures — futures contracts that don't expire — exceeded $1B in trading volume just 1 week after debuting. Sources: WSJ / CNBC.
• ERock raises $600M in IPO: ERock (EROC), which manufactures natural gas generators, raised $600M in its IPO, pricing shares at $21.50 each. Source: Reuters.
• OpenAI eyes Ohio data center: OpenAI is in talks to lease a proposed 10-GW Ohio data center campus backed by Nvidia (NVDA) and SoftBank (TYO:9434), with buildout costs potentially reaching $500B. Sources: The Information / Reuters.
• Chewy cuts outlook: Chewy (CHWY) lowered its full-year sales forecast amid a tougher consumer environment, despite Q1 revenue rising 7.7% to $3.36B and profit increasing. Shares fell 1.7% premarket. Source: WSJ.
• Dutch authorities block U.S. tech deal: The Netherlands blocked IT firm Kyndryl’s (KD) $115M acquisition of Dutch firm Solvinity, citing national security and data-sovereignty risks. Kyndryl is down 57% YTD. Source: NY Times.
• Meta forced to open up WhatsApp access: The E.U. ordered WhatsApp (META) to restore free access for rival AI assistants while an antitrust probe continues. Separately, Meta plans to lease a 168-megawatt AI data center from India's Reliance Industries (NSE:RELIANCE). Shares are down 11% YTD. Sources: The Verge / CNBC.
• ASML trades at discount: Despite hitting record highs and gaining 64% YTD, ASML (ASML) is trading at its lowest relative valuation versus major semiconductor peers in over a decade. Source: Bloomberg.

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• Inflation hits 3-year high: U.S. consumer prices rose 4.2% YoY in May, up from 3.8% in April and the highest reading since April 2023. Core inflation rose 2.9% YoY. Source: WSJ.
• Home sales rebound: Existing home sales rose 3.2% in May — blowing past forecasts of 1% — to an annualized rate of 4.17M units, the strongest pace since December. Lower mortgage rates, improved affordability, and increased inventory contributed. Source: CNBC.
• Oil rises: Brent crude futures gained 1.3%, surpassing $92 per barrel, after President Trump said that Iran must "pay the price" for allegedly slow-walking a peace deal. Source: CNBC.

• U.S. and Iran exchange strikes: U.S. forces struck Iranian air defense systems near the Strait of Hormuz, while Iran responded with attacks targeting U.S. bases in Bahrain, Kuwait, and Jordan. Source: BBC / NPR.
• Germany exits fighter jet project: Germany withdrew from a joint fighter-jet program with France and Spain valued at $115B. The move threatens a flagship European defense initiative. Source: NY Times.
• Riots rock Northern Ireland: Violent anti-immigrant protests spread across Northern Ireland after a Sudanese asylum seeker was charged in a Belfast knife attack. Vehicles and homes were set ablaze as authorities condemned the disorder. Source: CNN.
• Mass shooting in South Africa: South African police are searching for more than 10 suspects after a mass shooting at a Johannesburg settlement killed 12 people and injured 9. Investigators are examining possible links to illegal mining. Source: BBC.

• Congress approves ICE funding: In a 214-212 vote, the House passed a $70B bill to fund ICE and Border Patrol through the remainder of President Trump’s term. The measure now heads to the White House. Source: Reuters.
• Primary results from ME, NV, SC: Graham Platner secured Maine’s Democratic Senate nomination, while President Trump’s endorsed candidate prevailed in a Nevada primary. The race for GOP candidate for South Carolina governor will head to a runoff. Sources: AP / The Hill.
• SF rejects CEO tax hike: San Francisco voters defeated a proposition that would have expanded taxes on companies with highly paid execs. The result is a win for Mayor Daniel Lurie, a moderate Democrat, and business groups that argued higher taxes could discourage investment and job growth. Source: WSJ.
• Regulators float prediction-market rules: A federal commission is suggesting a framework for prediction markets that would broadly permit sports-related contracts while restricting markets deemed manipulable or against the public interest, such as those tied to wars or assassinations. Source: WSJ.
• White House tightens AI oversight: The Trump admin. has halted public reports from its AI-testing unit, possibly giving administration officials greater influence over AI evaluations and model releases. Source: WSJ.

• 7:00 AM: MBA 30-Year Mortgage Rate
• 8:30 AM: Core Inflation Rate MoM & YoY,
• 8:30 AM: Inflation Rate MoM & YoY
• 8:30 AM: CPI & CPI seasonally adj.
• 10:30 AM: EIA Crude Oil & Gasoline Stocks Change
• 2:00 PM: Monthly Budget Statement
• Thursday: PPI MoM
• Friday: Michigan Consumer Sentiment Prelim.

Casey's General Stores (CASY) has released its quarterly earnings.

• Revenue of $4.57B (+14.51% YoY) beats by $220.14M.
• EPS of $4.37 (+66.16% YoY) beats by $1.05.
• Financials · As Reported · Metrics · Press Release

Core & Main (CNM) has released its quarterly earnings.

• Revenue of $1.91B (-0.05% YoY) beats by $11.24M.
• EPS of $0.72 (+38.46% YoY) beats by $0.13.
• Financials · As Reported · Metrics · Press Release

Chewy (CHWY) has released its quarterly earnings.

• Revenue of $3.36B (+7.73% YoY) beats by $5.37M.
• EPS of $0.43 (+22.86% YoY) beats by $0.04.
• Financials · As Reported · Metrics · Press Release

Academy Sports and Outdoors (ASO) has released its quarterly earnings.

• Revenue of $1.44B (+6.74% YoY) beats by $2.82M.
• EPS of $0.93 (+22.37% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

Oracle (ORCL) will report today after close.

• Analysts estimate revenue of $19.09B (+20.05% YoY).
• EPS is estimated to be $1.89 (+11.18% YoY).
• Financials · As Reported · Metrics

Navan (NAVN) will report today after close.

• Analysts estimate revenue of $205.14M (n/a YoY).
• EPS is estimated to be -$0.02.
• Financials · As Reported · Metrics

Adobe (ADBE) will report tomorrow after market close.

• Analysts estimate revenue of $6.45B (+9.87% YoY).
• EPS is estimated to be $5.60 (+10.67% YoY).
• Financials · As Reported · Metrics

Lennar (LEN) will report tomorrow after market close.

• Analysts estimate revenue of $8.08B (-3.58% YoY).
• EPS is estimated to be $1.24 (-34.74% YoY).
• Financials · As Reported · Metrics

• Confirmed today: ERock, Inc. (EROC), a natural gas generator company with $190.77M in TTM revenue and 42.5% revenue growth YoY.
• Confirmed today: Parabilis Medicines, Inc. (PBLS), a clinical-stage biopharma company.
• Estimated Thursday, June 11: Forbright, Inc. (FRBT), a financial services platform with $591.80M in TTM revenue and 12.0% revenue growth YoY.
• Estimated Friday, June 12: MetaOptics (MOT), an optical lens company with $613.2K in TTM revenue and 891.2% revenue growth YoY.
• Estimated Friday, June 12: Space Exploration Technologies Corp. (SPCX), a spacecraft manufacturer and space transport company with $19.30B in TTM revenue and 33.2% revenue growth YoY.