Analysis

TradingKey - On June 12 local time, The Wall Street Journal cited people familiar with the matter reporting that attorneys general from several U.S. states have launched a joint investigation into OpenAI. OpenAI received a subpoena on the same day, requesting business documents related to user interactions, advertising strategies, data usage, and the protection of minors. Meanwhile, OpenAI's competitor Anthropic also faced an administrative ban. According to Axios, U.S. Secretary of Commerce Lutnick sent a letter to Anthropic CEO Dario Amodei, placing its two most advanced AI models, Fable 5 and Mythos 5, under the scope of export controls.

TradingKey - On June 12, Eastern Time, SpaceX officially debuted on the Nasdaq Stock Market. The stock closed up 19% on its first day of trading, with its closing market capitalization reaching $2.11 trillion, ranking it 6th in the U.S. stock market by market value. This surge made Elon Musk the first individual in history to surpass a net worth of $1 trillion.

TradingKey - From June 5 to 8, 2026, NVIDIA CEO Jensen Huang conducted a four-day visit to South Korea, meeting with the heads of SK Group, Hyundai Motor, LG Group, and other major corporations. He announced that the next-generation High Bandwidth Memory (HBM4) has been certified by the three major memory chip manufacturers and signed a multi-year technical cooperation agreement with SK Hynix.

TradingKey - Over the past year, AI chips, cloud computing, data centers, and a handful of tech giants have propelled the Nasdaq and S&P 500 to continuous gains and repeated record highs. However, as an increasing amount of capital concentrates on the same AI narrative, the U.S. stock market has begun to exhibit typical bubble-like characteristics: high valuations, crowded trades, rising market concentration, and rapid capital expenditure expansion, while actual commercial returns still require time to be validated. Once the market begins to question the return on AI investment, index-level corrections could be more severe than typical sector rotations.

TradingKey - According to multiple sources, the U.S.-Iran peace agreement has entered its final sprint. Pakistan Prime Minister Shehbaz Sharif stated on the social media platform X on Friday that both sides have reached an agreement on the text of a final peace deal, noting that "peace has never been closer than it is today."

Tradingkey - The opening match of the 2026 FIFA World Cup will officially kick off on June 11, with the tournament running until July 19 across 16 cities in the United States, Canada, and Mexico. Investment banks Deutsche Bank and Goldman Sachs noted that the World Cup will serve as a major catalyst for various consumer, media, and betting stocks, particularly generating clear incremental earnings growth in sectors such as tourism, catering, and sports betting.

TradingKey - On June 12 (ET), investor sentiment was ignited by SpaceX's successful listing and the prospect of a peace agreement between the U.S. and Iran, driving the three major U.S. indices to rise for a second consecutive session. At the close, the Dow Jones Industrial Average rose 0.70% to 51,202.26; the S&P 500 gained 0.50% to 7,431.46; and the Nasdaq Composite added 0.31% to 25,888.84.

TradingKey - Upon the successful listing of SpaceX (SPCX), space concept stocks fell across the board, with competitor Rocket Lab (RKLB) tumbling as much as 13% at one point. Within the sector, Virgin Galactic (SPCE) plunged over 37%, Firefly Aerospace (FLY) dropped more than 20%, AST SpaceMobile (ASTS) fell over 16%, and Redwire (RDW) declined by more than 13%.

TradingKey - SpaceX (SPCX) listed on the Nasdaq Stock Exchange today, opening at $150, approximately 11% above its IPO price. As of press time, SpaceX shares broke through $172, up 27.47%. The space company’s latest market capitalization climbed to $2.27 trillion, surpassing TSMC ($2.2 trillion). It currently ranks seventh on the global market cap leaderboard, trailing just behind Amazon ($2.55 trillion).

TradingKey - On June 12, SpaceX (SPCX) opened at $150 in its market debut, up 11.11% from its offering price of $135, with trading turnover exceeding $11.4 billion. Its latest market capitalization reached $2.05 trillion, immediately joining the ranks of the world's most valuable companies and surpassing Broadcom, Tesla, and Meta. It currently ranks as the 8th largest company in the U.S. by market value.

TradingKey - On June 12, the two major crude oil benchmarks plummeted, with WTI crude futures dropping over 4% after Iran signaled a potential move toward peace talks. According to media reports, the Iranian Foreign Minister stated that Iran and the U.S. have never been closer to reaching a Memorandum of Understanding (MoU). However, he added that the media should avoid speculating on its contents until they are finalized, stating, "In accordance with our responsible and transparent approach, all details will be shared with the public at the appropriate time." As of press time, WTI crude futures fell 3.85% to $84.33, dropping to levels last seen in mid-April, while Brent crude futures fell 3.78% to $86.98.

TradingKey - On June 12, storage stocks led gains as SanDisk (SNDK) approached the $2,000 milestone, reaching an intraday high of $1,996.77 today. Notably, the NAND flash semiconductor supplier’s year-to-date gains have reached approximately 50 times. As of press time, within the storage sector, Seagate Technology (STX) rose 5.25%, Western Digital (WDC) rose 4.77%, and SanDisk (SNDK) rose 3.43%.

Sudden negative news sent Adobe shares to their lowest level since 2019, with short-term support expected at $200.

TradingKey - Intel's 18A turnaround is gaining credibility as Microsoft confirms foundry orders and Apple is reportedly evaluating US-made chips. Is INTC finally turning the corner after years of execution challenges?

TradingKey - On Friday ET, rising expectations of a U.S.-Iran peace agreement drove a sharp decline in oil prices, easing market concerns over energy inflation. Meanwhile, SpaceX’s (SPCX) largest-ever IPO debuted today, becoming the focus of pre-market trading. The three major U.S. stock index futures rose in pre-market sessions; as of press time, Dow futures were up approximately 0.8%, S&P 500 futures rose about 0.68%, and Nasdaq 100 futures gained roughly 0.64%.

The official trading start for SpaceX has been delayed by half an hour. Prediction markets are betting on a strong debut for SPCX, with an expected opening price between $150 and $200.

TradingKey - Nokia's fastest-growing business isn't traditional telecom equipment. As 5G spending slows, private wireless networks and enterprise connectivity are emerging as key growth drivers for NOK.

TradingKey - SpaceX will officially list on the Nasdaq at 9:30 AM ET on June 12. Notably, ahead of the listing, several ETF issuers have already moved to launch or file for 2x leveraged long and short products linked to its share price. This implies that investors will be able to bet directly on short-term fluctuations in SpaceX's stock price through leveraged ETFs.

As the Middle East situation shows potential for a turnaround, both gold and Bitcoin have stabilized and rebounded near key psychological levels. However, which asset is better suited as an inflation hedge?

TradingKey - On June 12, ET, Reuters reported, citing three sources familiar with the matter, that NVIDIA (NVDA) has informed Chinese customers that its new Vera CPU, dedicated to AI data centers, will be available as early as August and is now open for orders. Unveiled in March, the Arm-based CPU is NVIDIA’s first standalone processor designed specifically for autonomous AI. Production capacity is now prepared as the company shifts its focus toward full commercialization.