• Market overview: Stocks fell as President Trump signaled more strikes on Iran and inflation accelerated to 4.2%. Rising oil prices heightened concerns about energy-driven inflation, pressuring risk assets across global markets. Gold, silver, and bitcoin fell 1–2%. Sources: WSJ / CNBC.
• SpaceX valuation & IPO concerns: Sen. Elizabeth Warren urged the SEC to delay SpaceX’s (SPCX) IPO, citing valuation, governance, and conflict-of-interest concerns. Short seller Jim Chanos also argued that SpaceX’s planned $1.75T IPO valuation is driven by “hopes and dreams” rather than fundamentals. Sources: CNBC / Reuters.
• AI pricing battle looms: OpenAI is considering major price cuts for AI usage to compete with Anthropic as enterprises push back on costs. Lower pricing could accelerate adoption, but may pressure margins. Source: WSJ.
• Oracle earnings, AI, & govt. contract: Oracle (ORCL) beat earnings and revenue expectations, with cloud revenue up 47% and cloud infrastructure revenue up 93%. However, shares fell after Oracle said it plans to raise another $20B and spend about $70B on AI infrastructure in fiscal 2027. In other news, Oracle was selected to provide a government-wide cloud HR platform. Sources: CNBC / Reuters.
• Cracker Barrel lifts outlook: Cracker Barrel (CBRL) posted a surprise Q3 profit and raised full-year revenue and EBITDA guidance after cost cuts offset weaker sales. Shares rose despite continued traffic declines. Source: WSJ.
• Xbox plans major cuts: Microsoft’s (MSFT) Xbox division is reportedly planning significant layoffs and budget reductions next month as it restructures under new leadership. Source: Reuters.
• Tesla wins Belgian approval: Tesla (TSLA) received approval to deploy its Full Self-Driving Supervised software in Belgium, which will be the third EU market after the Netherlands and Lithuania. Source: Reuters.
• Uber vs. NYC: Uber (UBER) sued New York City to block a driver-protection law, arguing it would make it harder to remove unsafe drivers and expose the company to legal risks. Source: Reuters.
• JPMorgan expands AI agents: JPMorgan (JPM) plans to deploy more advanced AI agents this year that can operate autonomously for hours and manage complex workflows. The bank says AI is already boosting private-banking sales. Source: CNBC.
• ERock shares debut lower: ERock (EROC) fell 6.5% in its NYSE debut after raising $600M at a $5.5B valuation. Investors questioned execution risks despite a $1.28B backlog, including about $1.1B tied to AI data center power projects. Source: Reuters.
• Car supplier restarts key plant: Novelis is restarting a New York aluminum plant after a 9-month outage due to fires, easing a supply bottleneck for automakers like Ford (F) and (GM). Source: WSJ.
• Neura Robotics raises $1.4B: Neura Robotics raised up to $1.4B in a funding round backed by Nvidia (NVDA), Amazon (AMZN), Qualcomm (QCOM), and others, valuing the humanoid robotics company at about $7B amid booming investor interest in AI-powered robots. Source: CNBC.

• Oil rises on new attacks: Oil prices climbed 2% to $95 per barrel after the U.S. and Iran exchanged new attacks, raising concerns over supply disruptions in the Strait of Hormuz. Source: NY Times.
• German output returns to growth: German industrial production rose 0.4% in April, its first monthly increase since November. The uptrend was helped by construction, chemicals, and metals. Source: WSJ.
• China factory inflation accelerates: China’s producer-price inflation rose 3.9% in May, beating forecasts as higher energy and commodity costs from the Iran war lifted factory prices. Source: WSJ.

• U.S.-Iran conflict ramps up: The U.S. significantly escalated its confrontation with Iran, launching a new round of strikes on multiple targets and threatening additional attacks. Iranian responded with missile and drone attacks against U.S.-linked facilities in Kuwait and Bahrain, leading Kuwait to briefly close its airspace and Gulf states to intercept incoming projectiles. Sources: AP / CNBC.
• House advances labor reform: The House passed a labor bill to accelerate first-time union contract negotiations through mediation and binding arbitration if talks stall. 20 Republicans joined all Democrats to vote in favor. Source: NPR.
• OpenAI flags China influence: OpenAI said Chinese groups used ChatGPT to create content aimed at shaping U.S. debates on tariffs, AI, and data centers. The campaigns appeared to have little impact but highlight AI’s growing role in influence operations. Source: Reuters.
• World Cup strike averted: Hospitality workers at SoFi Stadium reached a labor deal that averts a potential World Cup strike. The agreement raises the lowest hourly wages to $40 and reduces labor-disruption risk for upcoming major sporting events. Source: WSJ.
• Former Exxon chief dies: Lee Raymond, who transformed Exxon Mobil (XOM) through aggressive cost cuts and the $80B Mobil merger, has died at age 87. His tenure helped make Exxon Mobil the world’s largest and most profitable oil company. Source: WSJ.

• 8:30 AM: PPI MoM & Core PPI MoM
• 8:30 AM: Initial Jobless Claims
• Friday: Michigan Consumer Sentiment Prelim.

Oracle (ORCL) has released its quarterly earnings.

• Revenue of $19.18B (+20.63% YoY) beats by $93.04M.
• EPS of $2.11 (+24.12% YoY) beats by $0.22.
• Financials · As Reported · Metrics · Press Release

Navan (NAVN) has released its quarterly earnings.

• Revenue of $220.23M (+39.86% YoY) beats by $15.09M.
• EPS of $0.08 beats by $0.10.
• Financials · As Reported · Metrics · Press Release

Adobe (ADBE) will report today after close.

• Analysts estimate revenue of $6.45B (+9.88% YoY).
• EPS is estimated to be $5.60 (+10.67% YoY).
• Financials · As Reported · Metrics

Lennar (LEN) will report today after close.

• Analysts estimate revenue of $8.07B (-3.63% YoY).
• EPS is estimated to be $1.24 (-34.74% YoY).
• Financials · As Reported · Metrics

Jabil (JBL) will report Wednesday.

• Analysts estimate revenue of $8.59B (+9.74% YoY).
• EPS is estimated to be $3.06 (+20.00% YoY).
• Financials · As Reported · Metrics

• 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: Space Exploration Technologies Corp. (SPCX), a spacecraft manufacturer and space transport company with $19.30B in TTM revenue and 33.2% revenue growth YoY.