Semiconductor sector surges 5.5%, led by Micron's 10.8% gain

Micron (MU) +10.8% led a broad-based semiconductor rally on June 15, lifting the semiconductor sector +5.5% and the Nasdaq +3.1%, with the S&P 500 and Dow closing higher in tandem.

• A U.S.-Iran agreement to normalize Hormuz Strait passage sent oil prices down 4.9%, sparking broad buying in tech — Marvell, Meta, and Palantir also surged alongside

• VIX fell 8.4% to 16.20 as volatility eased; Treasury yields held near 4.5% — rate markets showed little reaction even as some Fed officials signaled they would withhold their rate outlooks for now

• Standard Chartered cautioned investors to ignore this geopolitical bounce — the June 23 FOMC decision and June 24 Micron (MU) earnings report are the next key directional catalysts

AMD +7%, cracking Nvidia's GPU monopoly 📈 AMD surged 7.0% as it chipped away at Nvidia's dominance in the AI-accelerator market.

• AMD's AI-demand outlook stayed solid through the first half even as the stock lagged — that fundamentals-vs-price gap closed today

• AMD +7.0% and Marvell (MRVL) +10.4% rallied together, reflecting demand for AI accelerators and custom silicon

• The real question is whether AMD's growing accelerator order book and big-tech AI capex convert into earnings; the June 23 FOMC is the near-term swing factor for growth-stock valuations

Hormuz deal sends oil down 4.9% 📉 Goldman Sachs cut its 2026-2027 oil-price forecasts, pricing in a fast return of Iranian crude after the deal.

• Oil's 4.9% single-day drop was read as easing energy-driven inflation pressure

• Expectations of resumed Iranian crude supply spread quickly, pulling global oil prices lower