Weekly Market Bullets

for the week ending 6/12/2026

• US Equity Markets posted gains last week amid heightened volatility, as oil prices dropped on reports that an agreement with Iran that opens the Strait of Hormuz is near. The S&P 500 was up 0.7% for the week and is now up 8.6% for the year. The Nasdaq also rose 0.7% for the week to bring its gains for the year to 11.4%, while the Russell 2000 (small cap stocks) surged 3.9% for the week and is now up 18.6% for the year.

• Global Equity Markets declined last week on weak economic data out of Europe and a rate hike by the European Central Bank. Developed Markets were down 0.1% for the week and are now up 7.4% for the year. Emerging Markets dropped 2.5% for the week to bring their gains for the year to 22.2%.

• Headline inflation hit its highest level in 3 years. The Consumer Price Index (CPI) for May showed inflation rose 4.2% from a year ago, the highest rise since April 2023. The rise was primarily due to higher energy prices. The Core CPI, which excludes food and energy prices, was up 2.9% from a year ago, highlighting the importance of resolving the Iran situation to likely reduce energy prices.

• The "Most Hyped" IPO's have generally been poor investments, at least initially. With the very hyped SpaceX (SPCX) IPO completed on Friday, Renaissance Macro performed an analysis of buying the 20 "most hyped" IPO's since 1995. They found that, while the average of these IPO's opened 134% above their offer price, the returns from the opening trade were disappointing. Specifically, the median return from the opening price one month after the IPO was down 7.5%, and the median return one year from the opening price was down 15.6%.

Market Data

for the week ending 6/12/2026