Markets Edge Higher As Two Big All-Cash Deals Land And The AI-Memory Trade Heats Up
U.S. equities were modestly higher late morning on Monday - the S&P 500 up about 0.21% near 7,523, the Dow up about 0.42% and the Nasdaq-100 up about 0.53% - with the figures drawn from live-blog ticker data rather than a Tier-1 timestamped feed. WTI crude eased about 0.7% to around $75.30 on a U.S.-Iran 60-day peace roadmap, with investors largely waiting on Thursday's May core PCE inflation print.
With macro quiet ahead of Thursday's inflation print, the day belonged to deal-making and the AI-memory trade rather than the indexes.
AdvertisementWhat's moving todayTwo confirmed all-cash deals led the tape: AbbVie's roughly $10.9 billion takeover of Apogee Therapeutics and CRH's roughly $8.5 billiondeal for Arcosa. The AI-memory complex rallied after SK Hynix overtook Samsung as Korea's most valuable firm on its lead inhigh-bandwidth memory, and Nebius and CoreWeave officially entered the Nasdaq-100, triggeringindex-fund buying. In cleantech, Bloom Energy held near a record as AI power demand lifted thefuel-cell trade, while in mining, Alamos Gold slid on aproduction warning. And SpaceX fell for a third straight session aspost-IPO volatility continued.
The week ahead- FedEx Q4 FY2026 - Tuesday, June 23 after the close; its first report since the June 1 Freight spin-off, with consensus around $5.91 EPS on $24.18 billion in revenue, per TradingKey. Micron Q3 FY2026 - Wednesday, June 24 after the close; the key AI-memory read, with consensus around $19.72 EPS on $34.5 billion in revenue, per Alphastreet. Nvidia annual shareholder meeting - Wednesday, June 24; focus on the Blackwell ramp and its first in-house Vera CPU. May core PCE - Thursday, June 25 at 8:30 a.m. ET; the Fed's preferred inflation gauge, with April's reading at 3.3% year over year. DEA cannabis rescheduling hearing - June 29; an administrative hearing on moving cannabis to Schedule III.
Disclosure: Any share or index prices referenced are intraday or premarket, captured at the timestamps in the source data, and are not closing levels. Several intraday moves are sourced from market live-blogs and aggregators and should be confirmed against a live feed at publication. This article is editorial market commentary and interpretation, not investment advice. Forecasts, analyst estimates, deal terms, and company figures are attributed to their named sources.
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