Daily Summary: Stocks and gold on their knees as US will continue strikes on Iran (10.06.2026)

U.S. equity futures extended yesterday's losses as President Trump vowed to continue attacking Iran. The Nasdaq led declines (US100: -1.6%), followed by the Dow Jones (US30: -1.2%) and S&P 500 (-1%).

🌎 US-Iran war

• Trump intensified pressure on Tehran, warning of further military action after accusing Iran of shooting down a U.S. Apache helicopter over the Strait of Hormuz

• He simultaneously signalled openness to a "meaningful" nuclear deal, claiming one was close — but accused Iran of stalling, insisting any agreement must permanently bar Tehran from obtaining nuclear weapons

📉🇺🇸 Equities — U.S.

• AI and semiconductor names lead losses: Qualcomm (-6.6%), Broadcom (-4.9%), Western Digital (-5.3%), AMD (-4.6%), Nvidia (-2.2%)

• Industrials are also selling off: Caterpillar (-6%), Honeywell (-3.4%), Boeing (-2.9%)

• Super Micro Computer slumped 18% after announcing a $7B capital raise despite disclosing a $39B AI server backlog — investors welcomed demand but punished dilution risk and margin concerns

• Cracker Barrel surged 23% after fiscal Q3 results swung from an expected loss to a profit, with a revenue beat, raised full-year guidance, a Wells Fargo upgrade, and rotation into defensive consumer names

📉🇪🇺 Equities — Europe

• DAX futures worst in Europe (DE40: -1.4%), dragged by SAP (-3.2%) and Siemens (-2.2%)

• French CAC40 (FRA40: -0.95%) and FTSE 100 (UK100: -0.5%) also lower

• Swiss SMI most resilient (SUI20: -0.2%) on its defensive sector composition (Healthcare concentration)

🏦 Macro — Inflation & Central Banks

• U.S. CPI broadly in line: headline 0.5% m/m / 4.2% y/y (up from 3.8%), core 0.3% m/m / 2.9% y/y — persistent inflation reduces near-term Fed cut expectations, reinforcing a "higher for longer" outlook

• Bank of Canada held rates at 2.25% as expected, flagging a stagflation-like mix of weak growth and sticky inflation; future moves remain data-dependent and open to either direction

🛢️ Commodities

• Brent crude (OIL: +2.2%) rallied on the bullish EIA report (crude draw of -7.23M barrels vs. -2.2M expected) and ongoing U.S.-Iran tensions; a Reuters survey showed OPEC output fell to a two-decade low of ~16.13M bpd

• Gold broke below key support at $4,200/oz (GOLD: -3.3% to $4,115); silver followed (futures -0.9% to $64.80/oz)

🪙 FX

• Strongest: euro (EURUSD: +0.15% to 1.155), British pound (GBPUSD: +0.18%), Norwegian krone (USDNOK: -0.4%)

• Weakest: Japanese yen (USDJPY: +0.12%, EURJPY: +0.2%); Australian dollar also lagging (AUDUSD, AUDNZD: -0.1%)

₿ Crypto

• Bitcoin +0.5% to $62,110; Ethereum -0.7% to $1,640