Stocks Mixed as Markets Eye End of Month, End of 2nd Quarter: Futures Pointing to Massive Tuesday Selloff

The Dow was up and the S&P and NASDAQ down as the month and quarter win down in the final full week prior to a four-day schedule shortened by the 4th of July holiday (observed, Friday, July 3).

Negotiations between Iran and the U.S. have proceeded somewhat smoothly thus far, but stock traders are still wary of the tenuous meetings between the parties at odds over a variety of issues, including keeping the oil flowing through the Strait of Hormuz and what to do about Iran's nuclear stockpiles and future plans.

While the Iranians seem keen on reaching an agreement that precludes building a nuclear arsenal, they continue to push for the right to develop domestic nuclear for power generation. They're also not easily persuaded by U.S. demands for inspections, likely preferring a neutral country to keep tabs on them, if any can be found.

What's keeping the NASDAQ from moving forward - at least on Monday - is the AI issue of overspending by companies like Amazon, Alphabet, Meta Platforms, Microsoft, and Apple, on data centers to power the AI buildout. More and more evidence is emerging that massive power plants costing in the billions may not turn out to be profitable ventures. China continues to develop AI models at a fraction of the cost of their U.S. counterparts, a worrying sign for U.S. domestic developers.

It appears that Monday was only a test run for what looks like a more watershed affair. With minutes to go before the opening bell in New York, stock futures are signaling massive declines. Dow futures are down 245 points, NASDAQ futures off a massive 913, and S&P futures down more than 100 points.

The masterminds of collapse didn't forget gold and silver, both of which are down sharply Tuesday morning, reaching levels last seen in November, 2025 on the way up to record levels. This time, the metals have reversed course, and weak hands are shaking.

It's a bumpy ride, for sure. Break out the barf bags.

At the Close, Monday, June 22, 2026:
Dow: 51,712.71, +148.01 (+0.29%)
NASDAQ: 26,166.60, -351.33 (-1.32%)
S&P 500: 7,472.79, -27.79 (-0.37%)
NYSE Composite: 23,596.22, +96.48 (+0.41%)