US Pre-Market, June 9, 2026: Chips Extend Their Rebound as Oil Slides Into a CPI Week

Sentiment: bullish US futures: S&P 500 +0.49%, Nasdaq 100 +0.89%, Dow +0.34%

US index futures point higher before the June 9, 2026 open, led by a second day of buying in semiconductors after last week's near $1 trillion rout: Nasdaq 100 futures sit +0.89%, ahead of the S&P 500 future at +0.49% and the Dow at +0.34%. The single largest pre-market move is Nuvalent NUVL.US, up 38.89% to $122.90 after British drugmaker GSK agreed to acquire the biotech for $10.6 billion in cash. Crude is the other story, WTI down 2.04% to US$89.44 after President Trump flagged an Iran deal within "two or three days," cooling the energy prices that drive tomorrow's May CPI print.

What drove the overnight session

• Semiconductors, again: Micron MU.US trades +4.55% pre-market to $992.50 after a 9.87% Monday gain, with Marvell MRVL.US +3.41%, Super Micro SMCI.US +3.57% and Broadcom AVGO.US +1.24%. The group is rebuilding from last week's selloff, when the Philadelphia Semiconductor Index fell 10.3% (its worst day since 2020) on Broadcom's light AI guide and a memory glut. The Nasdaq future's +0.89% lead over the Dow is that bounce in one number.
• Oil and the Strait of Hormuz: WTI off 2.04% to US$89.44 and Brent off 1.52% to US$92.82 after Trump said a deal to end the Iran conflict could land within days and the Strait would reopen "immediately." VIX is down 4.28% to 18.11 as crude gives back ground.
• Dollar back below 100: the US Dollar Index sits at 99.70, off 0.34%, with the US 10-year yield easing one basis point to 4.542%. A softer dollar and easier yields both favour growth and tech, not the defensive setup a market braced for a hot CPI would show.

Overnight Asia and Europe

Tokyo led the region. The Nikkei 225 closed +2.17% at 65,416, tracking Wall Street's chip recovery, with the Shanghai Composite +1.28% at 4,010. Hong Kong lagged, the Hang Seng off 0.37% at 24,566. Europe is firmer in mid-session: the STOXX 600 +0.48% at 624.71 and the DAX +0.42% at 24,720, while the FTSE 100 is the outlier at -0.26%, held back by its energy weighting as crude falls.

Pre-market movers

• NUVL.US +38.89% to $122.90: GSK will acquire Nuvalent for $10.6 billion in cash, about $124 a share, a 40% premium to Monday's close. The stock trades just under the deal price, the usual arbitrage discount.
• TXRH.US +5.50% to $177.00: Texas Roadhouse extends a run of analyst target hikes, including RBC moving to Outperform at $210, on easing beef costs and steady restaurant traffic.
• MTN.US -4.94% to $130.30: Vail Resorts is the standout decliner after a Monday-evening earnings miss, fiscal third-quarter revenue down 7% to $1.21 billion and per-share earnings below consensus, alongside a trimmed full-year outlook.

US economic calendar today (ET)

• 6:00am NFIB Small Business Optimism (May): the only scheduled US release, second-tier next to what follows.
• Wednesday 8:30am May CPI, the week's pivot. Consensus is +0.5% on the month and +4.2% on the year for the headline, with core at +0.3% and +2.9%. April was the hottest annual reading in nearly two years, energy alone driving more than 40% of that monthly gain, which is what ties today's falling crude to tomorrow's number.
• Thursday 8:30am May PPI follows.

What to watch

• Whether the semiconductor bid holds through the cash open or fades the way last week's did. Two green sessions do not undo a 10.3% index drop on their own.
• The gap between a risk-on pre-market and a hot inflation forecast. Futures are higher, oil is 2% lower and the dollar is below 100, all into a print expected at +4.2% on the year.
• Headlines on Iran. The 2% drop in crude rests on a comment about a deal, not a signed one.

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