Yahoo Finance’s June 24 Market Domination show was a broad daily market wrap focused on the late-day selloff in tech, falling long rates, easing oil prices, an earnings beat from Micron, and several interview segments on space, EVs, housing, sports-business branding, and AI’s impact on the internet and labor.
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The show opened with a straight market read: stocks were mixed, with the Dow holding up better while the Nasdaq slid to the lows of the day as chips, mega caps, and software weakened. Jared Blickery emphasized that the equal-weight S&P stayed green because the damage was concentrated in the largest stocks, and he tied part of the pressure to long-end rates, noting the 10-year yield was down nine basis points to 4.4% and the 30-year to 4.86%. The sector map showed consumer discretionary, industrials, healthcare, materials, and real estate as leaders, while energy lagged as Brent and WTI both slipped below $70. From there, the conversation shifted into specific market themes. Alphabet was discussed as a possible Dow addition and as a chart level story around $345-$350, with a warning that a break below $340 could imply further downside. …
Near term, the setup is for tech/chips to remain volatile while lower long-end yields and softer oil offer some support to the broader tape. The most actionable event risk is Thursday’s PCE print, which could either reinforce the current disinflation-friendly move or undo it quickly.
Over the next few weeks and months, the base case is a market that keeps rewarding earnings strength and punishs crowded duration trades only if macro data surprises. If oil and rates keep easing without a renewed inflation shock, the broader market can rotate beneath the heavy mega-cap pressure.
Structurally, the video points to a regime where AI, custom silicon, and platform changes in the internet matter more than traditional linear growth assumptions. The deeper implication is that value may migrate toward infrastructure, ownership, and bottlenecks — memory, cloud edge, agentic commerce, and data/control layers — rather than only to the end-user applications.
Micron's Q3 earnings beat estimates and Q4 guidance was above expectations, with a massive sequential revenue increase.
Analyst Angelo Zeno states that Micron beat their estimates by ~$6B for the current quarter and the ~$50B revenue guide was ~$8B above expectations.
Micron's results were phenomenal, with a massive beat on revenue and guidance.
Speaker cites beating their number by about $6B, a sequential increase north of 70%, and guidance $8B above expectations.
Slate's two-door EV pickup at under $25,000 is a game-changer because it makes an EV truck affordable for millions of Americans at roughly half the price of a new car.
The CEO cites the $25k starting price and $400/month estimated loan payment vs the average new car price today.
What are your thoughts on Alphabet joining the Dow?
Jared shows a chart of the NASDAQ 100, notes the mega caps on the left side, and argues the Dow is starting to look a lot like the NASDAQ 100. He points out Alphabet is at a critical level around $345-350 that used to be a ceiling and is now trying to become a floor, warning that if it sinks below 340 it could go a lot lower.
Jay Connelly, what do you make of oil prices falling back to $70 WTI and JP Morgan's forecast for Brent at $64 by end of 2026?
Connelly notes Brent dropped below $75 for the first time since the war began and is now about a dollar above its pre-war level of $72.48. He says prices have truly come down from near $120 in March 2022. He explains that gasoline prices follow crude more slowly due to refining. He discusses the Straits of Hormuz traffic resuming with 10-30 crossings per day of laden ships, but notes empty vessels going back in is the other side of the equation. He mentions Saudi and UAE are boosting pipeline capacity as a bypass. He says for those looking for Brent above $80, it is not — it's back near pre-conflict levels around $65.
What would be the risk you should think about with oil prices right now?
Connelly says the number one risk is military conflict reigniting. The other risk is on the fundamental side of global inventories — strategic reserves were drawn down and are at record lows. He notes Cushing inventories went below 20 million barrels for the first time since 2014, which is near operational minimums where tanks break down, and with NYMEX physical contracts, if oil isn't there to deliver, the price only has one way to go — up.
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