Market Minute ⏱️ 6/1/26: Oil, Stocks Rise After (Another) Deal Delay

Mike Larson | Editor-in-Chief

Stocks are starting off June with a pop. Ditto for crude oil. Gold and silver are mixed while the dollar and Treasury yields are slightly higher.

Once again, markets headed into the weekend with the promise of a Middle East deal. Once again, a deal failed to materialize – despite President Trump posting on social media late Sunday night that people should “sit back and relax, it will all work out well in the end.” Meanwhile, Iranian and US forces traded fire over the weekend, helping to push WTI and Brent crude oil futures back above $90 a barrel.

Lingering war worries haven’t taken steam out of an epic tech stock rally, though. The Philadelphia Semiconductor Index is up more than 81% year-to-date, its strongest performance this early in a year ever. Plus, the S&P 500 Index (^SPX) surged 16% in April and May. That's the kind of two-month gain we’ve only seen four other times since 1950. Still, it’s worth noting that once you strip out AI-related stocks, the S&P has actually lost ground since the war started at the end of late February.

Meanwhile, Nvidia Corp. (NVDA) is branching out into the laptop and desktop computer world – launching a new line of products powered by its RTX Spark chip. The hardware will be aimed at high-end customers like creators, AI developers, and gamers, and tailored to run AI “agents” that perform tasks for users autonomously.

Lastly, the housing market has been mired in the mud for a while thanks to elevated home prices and relatively high mortgage rates. But that didn’t stop Berkshire Hathaway Inc.’s (BRK.B) new CEO Greg Abel from getting further involved in the industry.

Berkshire announced the $6.8 billion takeover of Taylor Morrison Home Corp. (TMHC) at a 24% premium to where its shares closed on Friday. The firm already owns Clayton Homes and shares of the public homebuilder Lennar Corp. (LEN).

Wasser: Why Central Banks Now Hold More Gold than US Treasuries (Sponsored)

Lee: Why Semi Stocks are Soaring — and How YOU Can Profit

Michael Lee just highlighted how Marvell Technology (MRVL) is crushing earnings. But this isn't just about one stock. Lee points to a broader trend of AI-driven semiconductor strength - and sure enough, semis are enjoying the strongest start to a year EVER!

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• Gold: What's Fueling the Pullback...and Why You Should BUY It
  👉️ TICKERS: GDX, GLD
  If you’ve been on any social media frequented by gold and silver bugs recently, you’ve no doubt noticed the wails and gnashing of teeth as the metals and miners have stagnated. But while the short-term technicals look concerning, the current weakness represents a buying opportunity, says Brien Lundin, executive editor of Gold Newsletter.

• AAPL: Should You Buy Ahead of WWDC and the Firm's Siri Upgrade?
  👉️ TICKER: AAPL
  Apple Inc. (AAPL) is holding its Worldwide Developers Conference the week of June 8. There is always positive news from WWDC. Meanwhile, Bank of America just raised its target price from $330 to $380 and reiterated its “Buy” rating, notes Michael Murphy, editor of New World Investor.

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