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DAILY STACK
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Five stories ranked by Real-Life Impact
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Thursday, June 11, 2026
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Today's Thesis: Yesterday's CPI came in at 4.2% — the hottest in three years — but JPMorgan called it the peak, core inflation undershot the estimate, the Dow still dropped 950 points because Trump said Iran "will have to pay the price," oil is back at $90, your mortgage rate and your grocery bill are both climbing, and SpaceX prices the biggest IPO in history tonight before trading begins Friday.
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Try Out Musk’s New AI Agent – Before His Big Announcement
The world’s richest man… is about to get a lot richer.
Elon Musk just signed a contract…
That could make him the world’s first trillionaire.
But he has to do one thing…
Or he doesn’t get paid a dime.
You see, Elon just created a device he believes will be “the biggest product ever.”
He thinks it could 70X investors’ money.
By the end of this month.
Maybe even tomorrow on X.
He’s going to make this game-changing device available to the public.
He has to sell 1 million to become a trillionaire.
Would you bet against him?
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1
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Your home
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CPI 4.2% · core 0.2% below est · FOMC 5 days
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CPI hit 4.2% — the headline is ugly, but the core number tells a different story
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May CPI came in at 4.2% year over year — the hottest since April 2023 — driven by a 3.9% monthly surge in energy prices. But strip out food and energy, and core CPI rose just 0.2% for the month, below the 0.3% Wall Street expected. That's the number Warsh will focus on at the FOMC five days from now. JPMorgan's chief global strategist called the 4.2% headline the "high-water mark" for this cycle and expects the Fed to hold rates at the June 17 meeting. If that read is right, mortgage rates stop climbing here — and if it's wrong, the next move is a hike that makes every home loan more expensive through the fall.
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The other side: The headline number is still 4.2% — more than double the Fed's 2% target — and with Trump threatening more strikes on Iran, the energy component could run hotter in June, making the "peak" call premature.
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2
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Your health
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Dow -950 · Nasdaq -2% · VIX +12% · 4th chip selloff in 5
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The Dow lost 950 points — the worst day of June — and your 401(k) felt it
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The Dow dropped 950 points (-1.8%) on Wednesday, the S&P 500 fell 1.6%, and the Nasdaq lost 2%. The VIX jumped 12%. Chip stocks had their fourth down session in five, with Micron falling another 4.7% and Super Micro Computer losing 11.5% after announcing $7 billion in equity-linked financing. Traders say part of the selling is investors trimming chip winners to make room for SpaceX's IPO allocation — the SOXX semiconductor ETF is still up 80% this year, so there's plenty of profit to take.
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The other side: The core CPI undershoot gives the Fed room to hold, which is the one thing the market actually needed to hear — a selloff driven by profit-taking and SpaceX rebalancing is different from a selloff driven by a policy mistake.
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3
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Your wallet
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Oil back to $90 · ceasefire collapsing · energy +3.9%
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Trump says Iran "will have to pay the price" — and your gas bill already is
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Trump told reporters Wednesday that Iran had taken too long to negotiate and would "have to pay the price." Tehran responded by saying it would "reassess diplomatic engagement." WTI crude climbed back to $90 after the US launched fresh strikes overnight, and the 3.9% monthly energy price jump that drove the CPI headline is already showing up at the pump.
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The other side: The attacks have so far spared Iran's oil export infrastructure and Hormuz remains open — the worst-case oil scenario hasn't materialized, and the market knows it.
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Why are companies flying spy planes over Elon's closely-guarded AI lab?
Elon did the seemingly impossible – far faster than anyone expected… And it's sent the tech industry into PANIC MODE. ChatGPT, Claude, Google Gemini, and DeepSeek could soon become obsolete. And three little-known firms could soar 10X or higher as a result.
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4
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Your vote
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Day 103 · US struck Iran overnight · Tehran "reassessing"
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The deal that was "two or three days" away is now dead — again
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The US struck Iran overnight in response to the downing of a US aircraft. Trump said Wednesday that Iran "will have to pay the price," and Tehran responded by saying it would "reassess diplomatic engagement." The ceasefire Trump extended Tuesday lasted less than 24 hours in spirit.
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The other side: Pakistan is still mediating, Iran said "reassess" rather than "end," and every collapse in talks since April has been followed by a return to the table within 48 hours.
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5
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Your money
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$250B demand · $75B raise · $1.75T · prices tonight
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SpaceX drew $250 billion in demand — and prices its IPO tonight
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SpaceX's IPO has drawn more than $250 billion in investor demand for the $75 billion it plans to raise at $135 a share — over three times oversubscribed. The listing is set for Friday at a $1.75 trillion valuation, the largest IPO in US history, and is expected to push Elon Musk's net worth past $1 trillion at debut.
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The other side: That $250 billion in demand is also $250 billion being pulled from other stocks to fund the allocation — and some of Wednesday's chip selloff was driven by exactly that rotation.
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Off The Stack
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Oracle reports after the bell Wednesday — results land before Thursday's open. — Key read on enterprise AI spending; wait for the numbers before ranking it.
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Cracker Barrel surged 10.7% after beating estimates and raising full-year guidance. — A consumer bright spot, but one restaurant chain doesn't offset the broader selloff.
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Goldman Sachs says net equity supply in the US is nearly flat for 2026 — the first time since 2003. — Structural shift in supply and demand for shares; long-term story, not a daily mover.
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Daily Stack · Five stories ranked by Real-Life Impact
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