Oil is the main narrative. Lower oil from the Iran deal is moving rates markets and equities, with better breadth outside AI leadership. The huge equity issuance (SpaceX, etc.) may negate buyback tailwinds and skew valuations, reaffirming narrow leadership.
explicit
implicit
RUT
explicit
Metals
USD
Bloomberg
7.0
Financial Media
Michael Ball 4.0
Financial Media
Michael Ball 4.0
6/15/2026 8:40:10 PM
ndx
Equities are taking the cue from lower oil and yields, with better breadth outside AI leadership.
wti
Oil is the main narrative. Lower oil is moving rates markets.
yields
Oil was moving the rates markets, yields were again falling.
Raising S&P year-end target to 9000. Three drivers: oil quickly falling to $70 (OPEC going full out, Trump encouragement), new Fed Chair Kevin Warsh using forecasting (not data-dependent) to cut rates 75bps, and lower 10-year yields (~4%) justifying a 23x multiple on rising earnings. Risk is all to the upside.
explicit
implicit
RUT
explicit
Metals
USD
Infrastructure Capital
1.0
Other
Jay Hatfield 8.5
Other
Jay Hatfield 8.5
6/15/2026 8:40:10 PM
ndx
S&P target of 9000 implies significant upside for equities broadly, including tech. Earnings are exploding.
wti
We think we'll quickly get to 70. OPEC will go full out.
yields
We should have 75 basis points of cuts over the next year. The 10-year will drop close to 4%.
SpaceX saw record retail volumes. The huge equity issuance (SpaceX lockups, tech debt/equity) is a concern for passive S&P investors. There is a rotation happening under the surface. Likes healthcare as a beneficiary of broader AI application layer. Stablecoin adoption is a key theme.
Yields
implicit
RUT
Oil
Metals
USD
Robinhood
5.5
Fintech Company $120.00B
Stephanie Guild 6.0
Fintech Company $120.00B
Stephanie Guild 6.0
6/15/2026 8:40:10 PM
ndx
Tech is issuing debt and equity, which may cap upside. Rotation is happening under the surface. Likes healthcare over broad tech.