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Signage for the FIFA World Cup at Penn Station in New York, US, on Thursday, June 4, 2026.
Credit: Adam Gray / Bloomberg via Getty Images

Key Takeaways

• The U.S. economy could add $22 billion to $76 billion to GDP this quarter because of the World Cup, according to one estimate.
• Businesses, from hotels to airlines to tourist traps, are counting on an influx of visitors this summer to offset some of the economic drags experienced so far this year.
• However, some businesses are concerned that the number of overseas visitors will fall short of expectations due to geopolitics.

If you go to the Lion Sports Bar in Center City Philadelphia during any soccer match, you'll likely find the place crowded with fans.

Go there during the World Cup matches later this month, and you'll be lucky to even get in the door.

"It's gonna be an absolute madhouse," owner Mark Primzinger said. "We get absolutely packed with people shoulder to shoulder to begin with."

Primzinger is one of many business owners across North America counting on a boost when the international tournament is held in North America between June 11 and July 19. Matches will be played in 11 U.S. cities, including Philadelphia, Houston and Miami.

Visitors from Japan, Australia, South America, and Europe have already bought tickets to watch parties at The Lion, so Primzinger is expecting a horde of international visitors. To prepare, he's hired 10 extra staff members and rented a sushi bar across the street to serve as a temporary expansion.

What This Means For The Economy

The FIFA World Cup tournament could provide a much-needed boost for the U.S. tourism sector, which saw foreign visits drop for the first time since 2020 last year.

Hotels, tourist traps and many other parts of the U.S. economy are all hoping for a similar windfall.

Why the Tournament Could Boost the US Economy

The total economic impact of the FIFA World Cup soccer tournament could be significant, adding anywhere from $22 billion to $76 billion to the gross domestic product for the quarter, forecasters at BMO Economics said in a commentary last week.

The impact has already shown up in economic statistics: Some economists credit the tournament with adding 70,000 jobs in the leisure and hospitality sector in May.

The State Department estimates will bring in 5 million to 7 million visitors. BMO estimates that foreign fans will bring a much larger economic benefit than domestic fans, since U.S. residents who travel to the matches are likely just shifting money they would have spent elsewhere in the country.

An influx of tourism dollars would be a welcome boost to the economy. The hospitality industry has felt the impacts of a decrease in foreign tourists to the U.S. The number of international visitors declined 5.5% in 2025, according to the International Trade Administration.

From Sports Bars to Roadside Attractions, Everyone Wants a Share

Venues in San Francisco, the site of six matches, have rolled out red carpets for international visitors, organizing watch parties, fan zones and special events in anticipation of throngs of visitors.

Other kinds of businesses hope to get a boost from people looking for things to do between matches.

In the Kansas City area, businesses many miles from Arrowhead Stadium—where six matches are being played—hope to benefit from the arrival of tourists.

Lisa and Ron Lessman, the owners of the Truckhenge junk sculpture roadside attraction about an hour’s drive from the stadium, are hoping for a few sports fans making a detour to see their unique piece of Americana.

Travel Concerns Could Limit the Economic Impact

Some industry groups have raised concerns that the number of travelers will be lower than initially anticipated. A survey of hotel owners by the American Hotel and Lodging Association published earlier this month showed 80% of establishments had fewer bookings than they had initially forecast, and that "visa barriers and broader geopolitical concerns" were stopping many would-be travelers from coming to America.

In San Francisco, event organizers scaled back their expectations and budgets after learning the top-ranked teams wouldn’t be playing in the city, Alex Bastian, president of the Hotel Council of San Francisco, said.

The recent rise in fuel prices has also pushed up travel costs, potentially adding another drag on tourism, according to the AHLA report.

Researchers at Deutsche Bank expect the cup to have a relatively small overall impact on the U.S. economy ultimately, and is likely to be overshadowed by AI spending, the Iran war and other major economic trends.

Still, for businesses like Lion Sports Bar, the tournament could be one of the biggest windfalls in years.

"For us, being a soccer bar, you've got to shoot your shot when you can," Primzinger said. "The World Cup is not coming to Philadelphia again next summer, so we're going to have to throw everything we can at it."

Investing part of the Social Security trust fund could help sustain the program.
Credit: Investopedia / Photo Composite by Elizabeth Guevara / Getty Images

KEY TAKEAWAYS

• Social Security's trust fund is projected to run out of money by 2032, leading to benefit cuts unless changes are made.
• Investing the trust fund in the stock market could help, but it carries significant risks and would not solve the funding shortfall on its own.
• A combination of payroll tax increases and partial trust fund investment offers the best chance for long-term solvency.

Social Security faces a funding shortfall, and one proposal suggests the solution could be in the stock market.

The Social Security program is spending more than it earns from taxes, and the main trust fund that helps make up the difference is projected to run out of money by 2032. Once the trust fund runs out of money, benefits would be cut by 7% immediately, and by 23% in subsequent years.

Apart from increasing the fiscal deficit, solutions to extend the trust fund would require either raising payroll taxes or reducing benefits for retirees. However, both options are generally unpopular across political parties, and lawmakers are wary of implementing them.

Why This Matters

Social Security benefits are six years away from insolvency, and many retirees rely on the program to keep them out of poverty. Lawmakers have proposed various solutions to maintain the program's funding, but all options must be implemented soon to make a difference.

To extend the trust fund's lifespan, Senators Bill Cassidy (R-LA) and Tim Kaine (D-VA) have proposed another option: investing the $1 trillion trust fund in stocks. Similar methods have been adopted for both foreign and domestic programs, such as the Canadian pension program, the U.S. National Railroad Retirement Investment Trust, and the U.S. Thrift Savings Plan.

The proposal would take the trust fund, which currently totals about $1.5 trillion, and invest it in equities for 75 years.

In the meantime, Social Security would borrow $1.5 trillion from the Treasury to maintain the trust fund. Once that runs out, it would borrow an additional $25.1 trillion to pay for benefits. After 75 years of letting the trust grow through equities, Social Security would pay back the Treasury.

Investing Social Security Funds May Not Be Enough

However, even under the rosiest conditions, the volatility in the stock market makes a profit unlikely, according to an analysis of the proposal from the Center for Retirement Research at Boston College.

Historically, the market's real annual return is about 6.5%, and assuming a 2.3% interest rate, the trust would grow to $30.6 trillion after 75 years. That is enough to repay the Treasury and have $4 trillion left over.

However, there are risks to this strategy. When researchers from Boston College ran simulations using this proposal framework, the investment would not earn enough to pay back the debt 64 out of 100 times.

Additionally, many experts argue that the annual return would be smaller than the historical average. If the stock market returned only 4% annually, in 75 years the $1.5 trillion fund would grow to only $5.2 trillion, more than $20 trillion short of the total borrowed amount.

To add to the gloomy predictions, researchers found that if the government did borrow that much money, it would generally raise interest rates and worsen the stock market's performance. In that case, the trust fund would only pay off 21% of its original debt, even with a 3.5% annual return and the best stock market performance.

"The most likely outcome is that in the 75th year, the government will end up with a big pile of debt, requiring large interest payments," wrote researchers at Boston College. "These far-from-sanguine results, however, do not necessarily mean equities should not be part of a broader Social Security reform package."

If lawmakers were to increase the payroll tax by 3.82% and invest 40% of the trust fund at an annual return of 6.5%, even under the worst outcome, the trust fund would remain solvent indefinitely, Boston College researchers said. Even with 4% returns, the trust would make enough to never increase taxes or cut benefits again in half of the scenarios.

Monday's event marked Tim Cook's last Worldwide Developers Conference as CEO
Credit: Josh Edelson / AFP / Getty Images

Key Takeaways

• Apple's highly awaited Siri AI update, along with other new features highlighted at the company's annual developers conference, got a muted reception from investors Monday.
• Expectations were riding high heading into the event, which marked Tim Cook's last WWDC as CEO before John Ternus takes over the role in September.

Apple delivered on some of its AI promises—but it didn't help the stock.

Shares of Apple (AAPL) fell close to 2% Monday, sliding while broader markets rose, after the iPhone maker at its annual Worldwide Developers Conference revealed its highly awaited Siri AI along with a slew of other features and its latest operating system. The shares had climbed to record highs last week as anticipation built around the event, which some investors thought would herald a pivotal moment in Apple's AI trajectory. The muted reaction to Apple's latest updates, however, could suggest investors were underwhelmed, with expectations riding high and some of the announced updates widely expected ahead of the event.

Why This Matters to Investors

Seen as an AI laggard after a series of delays, Apple faces pressure to prove it's making progress with the emerging tech.

Apple's latest operating system called Golden Gate, along with its updates to Apple Intelligence and Siri AI, were rolled out to developers for testing today, and will become available to more users later this year, Apple said.

For some on Wall Street, including the bulls at Wedbush led by Dan Ives, Monday's event was seen as a "good step in the right direction as AAPL looks to fill the void in its AI strategy."

Some investors may also be looking ahead to the fall, when Apple is expected to get a new CEO. Monday's event marked Tim Cook's last Worldwide Developers Conference in the role before John Ternus, Apple's senior vice president of hardware engineering, takes the helm in September.

“The first era of AI—the generative AI era—I think kind of passed Apple by. I think the hope is that they really catch up during the agentic AI era," Gabelli Funds Portfolio Manager John Belton told CNBC on Monday as the event kicked off.

Even with Apple's recent slide, the stock has added 11% since the year began, outpacing the S&P 500's roughly 8% rise.

AI Chipmaker Gets 'Buy' Ratings from Analysts

Even with Monday's big gain, Cerebras shares are down 24% from where they closed on their first day of trading in mid-May.
Credit: Michael Nagle / Bloomberg / Getty Images

Key Takeaways

• Cerebras shares soared Monday after a trio of analysts launched coverage of the AI chipmaker's stock with "buy" ratings.
• The stock has trended lower in its first few weeks since debuting last month, but is still well above its IPO price of $185.

While investors are increasingly focused on expected mega-IPOs from SpaceX, Anthropic and OpenAI, several analysts are reminding investors of one of the market's newest AI stocks.

Shares of Cerebras Systems (CBRS) jumped 18% Monday to $238 after analysts from Wedbush, UBS and Morgan Stanley initiated coverage of the AI chipmaker. All three issued "buy" ratings, but their price targets varied. UBS gave Cerebras the highest target of $300, while Wedbush put theirs at $270, and Morgan Stanley analysts pegged theirs at $250.

Why This Matters to Investors

The rocky performance of Cerebras shares since last month's IPO could offer an insight into the appetite investors have for new AI stocks ahead of some highly-anticipated debuts in the coming months.

Monday's move is the latest swing in what has been a rollercoaster ride for Cerebras stock since it debuted last month. After pricing its IPO at $185 per share and opening at $350, Cerebras shares soared as high as $386 in their first day of trading, before closing the day at $311. Shares have trended lower with a few big spikes in the weeks since, closing last Friday at $201.

UBS analysts said that Cerebras has shown "strong commercial momentum with a broad engagement" including deals with OpenAI and Amazon (AMZN), and potential agreements with other tech companies. Wedbush analysts called those deals the "best proof points as to the inherent value of Cerebras's technology."

Even with Monday's big gain, Cerebras shares are down 24% from where they closed on their first day of trading on May 14. The stock is still nearly 30% above its IPO price.

There are various ways investors can get a piece of Elon Musk's SpaceX.
Credit: Photo by ilia YEFIMOVICH / AFP via Getty Images

Key Takeaways

• Several funds that hold private shares of SpaceX in various capacities have seen an influx of new money in May ahead of an IPO that could arrive this week.
• Funds tracking the Nasdaq 100, such as the popular Invesco QQQ Trust, will buy shares as "SPCX" is fast-tracked into major benchmark indexes.
• Fidelity, Schwab, Robinhood and SoFi are offering retail investors IPO shares, but they come with a process and certain conditions.

When the front door's mobbed, you can try the back.

Elon Musk's Space Exploration Technologies, better known as SpaceX, looks poised to debut on public markets later this week. The company has allocated a large share of its offering for retail investors, but those interested in owning the company—but may be unable or unwilling to try to get in on the first-day action, or would prefer to get less-direct exposure—have plenty of other options, including mutual funds and exchange-traded funds that already own shares of the private company in various capacities. Even more, including benchmark-tracking index funds and thematic funds, will buy the stock after it lists.

WHY THIS MATTERS TO YOU

Some people like frenzied shopping, while others would rather skip the line and the chaos. For investors who want to own shares in SpaceX without the first-day hullabaloo, there are options.

Some of them come from longtime supporters of Elon Musk. One, billionaire investor Ron Baron, has two investment vehicles offering exposure: a mutual fund, Baron Partners (BPTIX), and an ETF, Baron First Principles (RONB). SpaceX is the largest holding of the former, with a 23% weighting as of the end of May, and a more modest 2.3% weighting in the latter as of last Friday. Both own the private shares directly.

The ERShares Private-Public Crossover ETF (XOVR), which aims to hold "public innovators" and some late-stage private companies, has a 13% weighting in SpaceX through a special purpose vehicle. The fund will hold the SPV until the expiration of a lock-up period, after which it will hold the regular stock. Joel Shulman, chief executive and chief investment officer of ERShares, told Investopedia that the firm is a long-term investor in the company and will likely add to its position over time. Tema Space Innovators ETF (NASA), a thematic ETF that invests in the "emerging space economy," has a 6.5% weighting in SpaceX through an SPV.

Those four funds together saw $7.9 billion in combined net flows last month in the lead-up to SpaceX's public debut, according to Morningstar. That could mean some investors who plowed into the funds for SpaceX exposure decide to pull their money in favor of owning the stock outright. "Whatever scarcity value these funds and ETFs have derived from the pre-IPO exposure they've afforded expires" when SpaceX starts trading, Morningstar's Jeff Ptak said last week; if investors bail on them, and fund managers face redemptions, Ptak said, their portfolios "could shrink around the SpaceX position, increasing its weighting."

The Next Wave

In the days after SpaceX goes public, major indexes such as the Nasdaq 100 and the Russell 1000 are expected to fast-track the company into their measures, effectively forcing popular index-tracking funds to buy the stock. That means funds like the iShares Russell 1000 ETF (IWB) and the Invesco QQQ Trust (QQQ) will offer their investors exposure once the indexes include the stock, which will likely support the price of the shares. That could lift the stock ahead of those announcements.

"Whenever it's known that there's a major addition to an index, there's always a run-up in price, because speculators buy it on the assumption that the capital markets teams behind the big index funds are going to make a big cash market-on-close purchase," Elisabeth Kashner, Director of Global Funds Research at FactSet, told Investopedia.

Some thematic ETFs aim to hold large new issues. The First Trust US Equity Opportunities (FPX) fund is expected to buy SpaceX after its IPO, while the Renaissance IPO (IPOS) fund will evaluate it for inclusion in September.

For those who do want to buy the shares directly, there's always the open market—though some investors can buy shares at the IPO price via select brokerages—including E*Trade, Fidelity, Robinhood, Schwab and SoFi—if they meet certain conditions: Investors generally have to request shares, aren't guaranteed an allotment, and must follow "no flipping" policies, meaning they can't turn around and immediately sell their shares.

Fidelity lowered its barriers to access for SpaceX's IPO shares, making anyone with $2,000 or more in account balance, versus a typical gate in the six digits, eligible for an allocation. Investors who confirm their interest in time after the IPO is officially priced will see shares land in their accounts before the market opens on listing day. Fidelity customers who receive IPO shares and sell them within the first 15 calendar days of trading, however, will be blocked from participating in an IPO for six months; second- or third-time flippers are blocked for a year, and then permanently. Robinhood and SoFi each also have "no flipping" policies that apply for the first 30 days.

The Nasdaq tumbled more than 4% on Friday, its worst day in more than a year.
Credit: Michael M. Santiago / Getty Images

Key Takeaways

• Tech stocks rebounded on Monday as investors bought the dip following a sell-off Friday on a strong jobs report that abruptly reset Wall Street's interest rate expectations.
• Analysts across the bull-bear spectrum are skeptical that this year's blistering memory and semiconductor rally will resume in full force, but bulls expect market leadership to broaden and lift the S&P 500 higher through the end of the year.

The tech stocks that fell the most in last week's tech rout led a market rally on Monday. That's good news for bulls—but some experts are seeing warning signs.

The tech-heavy Nasdaq Composite was up about 1% in recent trading after tumbling more than 4% on Friday. The PHLX Semiconductor Index (SOX), which had its worst session since 2020 on Friday, soared more than 5%. And it's happening despite mounting headwinds: Treasury yields continued to rise after jumping Friday on a surprisingly strong jobs report that dashed Wall Street's hopes for rate cuts this year. Oil prices were also higher after Iran and Israel exchanged missile fire over the weekend, testing the strength of a ceasefire that both sides have sporadically broken in recent weeks. Consumer Price Index data due Wednesday is expected to show inflation last month surged above 4% for the first time since 2023. 

Some experts see additional forces threatening the high-flying memory and semiconductor stocks that have powered the market to record highs this year.

“Traders are looking ahead to the next big opportunity,” said Nancy Tengler, CEO of Laffer Tengler Investments. Those opportunities include Elon Musk's SpaceX, which could complete the largest IPO in history as early as this week. Investors are also eyeing market listings by AI labs Anthropic and OpenAI later this year. Tengler said her firm is trimming stakes in its best-performing holdings, including Micron (MU) and Lam Research (LRCX), to make room for new market leaders. 

Why This Is Important

A few soaring tech stocks have fueled the stock market's ascent to record highs this year, making the major indexes highly concentrated and vulnerable to sell-offs like Friday's. Experts are divided on whether the market's tailwinds, like broad-based earnings growth, can offset headwinds from inflationary pressures and higher interest rates.

Bank of America analysts on Monday encouraged investors to “take profits” in a note laying out their bear case for the S&P 500, which they expect to fall about 6% by year's end. “We see opportunity in S&P 500 stocks, but not the overall cap-weighted index,” they wrote. Seven of 10 sell signals they track flashed last month, the same number that has historically coincided with market peaks. 

The market sent two new sell signals in May. First, stocks trading at high valuations outperformed low-valuation stocks by a wide margin, “a sign of excessive speculation.” The gap between the best- and worst-performing tech stocks widened to 120 percentage points, the largest difference since February 2000 before the dot-com Bubble burst, according to BofA. 

After a strong first-quarter earnings season, long-term growth expectations have also begun flashing sell signals. One of the few measures against which the S&P 500 is not “statistically expensive” is its PEG ratio, or its price-to-earnings ratio relative to growth. “Long-term expectations sit at the highest level since early 2022,” according to BofA. Historically, that has reflected rosy forecasts that fail to pan out, potentially making a low PEG “a bearish set up, negatively correlated with future equity returns.“ 

Analysts at Morgan Stanley, on the other hand, see high growth expectations as a reason to be bullish on stocks. “Earnings remain robust, broader and more sustainable than most believe,” the analysts wrote Monday. “A correction was inevitable and ultimately healthy if this bull market is going to extend into year-end, which remains our baseline." 

Morgan Stanley expects the S&P 500 to rise 7%, to 8,000, by the end of the year as market leadership broadens out from memory and semiconductor stocks. The Dow Jones Transportation Index rose 0.7% amid Friday's tech rout, possibly foreshadowing more outperformance for stocks outside of tech, according to the analysts.

Risks to the broad rally include interest rate volatility and the threat of accelerating inflation that, by Morgan Stanley's measure, closely resembles the run-up of 2021, when policymakers looked through inflation they expected to be transitory. 

“Our base case at the moment is that 2026 will continue to look like 2021—earnings boom, inflation rising, Fed on hold and a rising stock market with multiple cyclical leadership changes and corrections throughout the year,” the analysts wrote.

The tech sector weakness that experts say could persist in the U.S. this year was out in full force across the Pacific on Monday. Last Friday's losses bled into Monday, with South Korea's Kospi Index, up 93% year-to-date heading into this week, tumbling more than 8% as investors sold off high-flying chip stocks like SK Hynix and Samsung.

Intel CEO Lip-Bu Tan earlier this month in Taiwan.
Credit: Cheng Chia Huang / Getty Images

Key Takeaways

• Intel shares soared Monday following a report of a new chipmaking deal with Google and the possibility of another with Nvidia on the way.
• The move helped the stock recover some of its losses late last week, when a broader pullback in tech shares weighed on markets.

Is Intel's stock ready to resume its winning streak?

Shares of Intel (INTC) were up over 12% in Monday trading, leading gains on the S&P 500 after The Information reported that the chipmaker struck a deal to make more than 3 million specialized AI chips for Google, and that an agreement with Nvidia could be on the way. Intel declined to comment on the report, while Google and Nvidia did not respond to Investopedia's requests for comment in time for publication. The news comes weeks after reports that Intel could also be nearing a deal with former customer Apple (AAPL). Such deals could help convince investors of its ability to attract customers for its manufacturing business.

Monday's gains helped Intel shares recover some of their recent losses. A series of high-profile deals and better-than-expected results have powered the stock higher this year: The shares, though still some 18% off May's highs, have roughly tripled in value since the year began, making them among the best performers in the S&P 500 for 2026.

Why This Matters to Investors

Manufacturing deals with Google and Nvidia would represent a major win for Intel's foundry business and could help boost confidence in its turnaround.

Despite Intel's recent momentum, Wall Street has a range of opinions on the stock; some analysts harbor concerns about the sustainability of its gains and uncertainty about whether Intel will be able to succeed in securing commitments for its manufacturing arm. Of the seven analysts with current ratings tracked by Visible Alpha, just three recommend buying the stock, compared to three neutral ratings and one sell.

Intel CEO Lip-Bu Tan, who took the helm of the chipmaker last March, said in a social media post over the weekend that "we are just getting started on our journey to build a new Intel." This April, the stock broke through a record high that had stood since 2000.

Shares of Google parent Alphabet (GOOGL) slid about 1% on Monday, while Nvidia (NVDA) were 1% higher. Read Investopedia's full coverage of today's trading here.

Corning's stock price has more than doubled since the start of the year.
Credit: Cheng Xin / Getty Images

Key Takeaways

• Corning shares jumped Monday after the glass and optic fiber cable maker announced a new multi-billion dollar deal with Amazon.
• The companies said the deal will create 1,000 jobs at Corning's North Carolina manufacturing facilities, in the latest AI-based win for the company.

Corning shares are rallying Monday, getting their latest lift from a new deal with a Magnificent Seven member.

Corning (GLW) shares were up 7% in recent trading after the specialty glassmaker announced a multi-billion dollar agreement with Amazon (AMZN) to supply the tech giant with optical fiber equipment to be used in its data centers. Amazon shares were up less than 1% this morning.

The companies said the agreement will create 1,000 new jobs at Corning's manufacturing facilities in North Carolina, and expand a training program for students as Corning looks to grow its manufacturing footprint in the U.S. Corning CEO Wendell Weeks called the agreement a "significant milestone" for Corning and its manufacturing efforts.

Why This Matters to Investors

The new deal with Amazon is the latest positive signal for Corning, which has seen its stock surge on agreements with several big tech firms to supply hardware needed for AI data centers.

Corning makes specialized glass for smartphones including Apple's (AAPL) iPhones, but Optical Communications is its biggest business, supplying fiber optic cables used to connect equipment in data centers. The segment made up about 40% of Corning's revenue last year.

The stock has been boosted by a deal with Meta Platforms (META) and last month set a new record high after the company expanded its partnership with Nvidia (NVDA), with Corning agreeing to build new manufacturing facilities solely to supply Nvidia.

Corning shares have more than doubled since the start of the year and are up roughly 275% in the last 12 months.

Strategy Executive Chairman Michael Saylor. Shares of the company were hammered last week after it disclosed its first sale of bitcoin in years.
Credit: Ronda Churchill / Bloomberg via Getty Images

Key Takeaways

• Strategy, the enterprise software company made famous for stockpiling bitcoin sold some of its assets last week. Wall Street analysts remain bullish.
• Options traders expect Strategy shares to swing about 9% in either direction by the end of the week.

Investors' eyes are on Strategy (MSTR) after last week's crypto crashout.

The enterprise software company, known mainly for stockpiling bitcoin, recently sold some of its stash for the first time since 2022, spooking investors despite the transaction being relatively small. Crypto markets, meanwhile, started to crack as bitcoin slid to lows unseen since 2024 to trade at less than half of its October peak. Strategy stock was down more than 22% this year through Friday's close, compared to the S&P 500's 7% gain.

WHY THIS MATTERS TO YOU

Strategy's stock has struggled since it hit its 52-week high last July. Options-based pricing analysis can help investors get a sense of what to expect next, though it's only one clue.

Strategy's stock is moving higher again today, rising some 4% in early trading. The company's announcement that it bought 1,550 bitcoin last week at an average cost of about $65,000 likely soothed some concerns that the firm was in sell mode. (Read Investopedia's coverage of today's trading here.) Options traders appear to expect more volatility ahead: Recent pricing indicates that the stock could swing about 9% in either direction through Friday. A move of that size could send Strategy stock back up to $139, or down to $115.

Citi Research remains bullish about Strategy—and bitcoin, which recently traded near $64,000. Alex Saunders in a report early last week said the company's small sale "has had an outsized effect," on the cryptocurrency but that it doesn't change the firm's "strategic outlook." The firm has a base-case bitcoin price target of $112,000; its bear case is $57,000, and its bull case $166,000, per a mid-March forecast.

Citi stock analyst Peter Christiansen hasn't changed his bullish stance on Strategy since his post-earnings report last month, writing that there is "a lot to like" about Strategy's portfolio strategy shift that includes increasing active management of its bitcoin and its "broadening" investor universe through offerings like preferred shares. (The STRC, or "Stretch," preferred shares closed Friday about 6% off its par value.)

Street analysts remain bullish on Strategy. All five brokers tracked by Visible Alpha rate it a "buy," and their consensus price target, $322 implies upside of almost 170% from Friday's close.

Shares Jump 10% in Early Trading Monday

Marvell's stock price has more than tripled since the start of the year.
Credit: Jonathan Raa / NurPhoto via Getty Images

What You Need to Know

• Shares of Marvell Technologies are jumping this morning following Friday's news that the chip designer will join the S&P 500 later this month.
• The stock has had quite a month, jumping to start last week after a shout-out by Jensen Huang and then falling to end it as tech shares retreated.

Marvell's wild June looks set to continue today.

Shares of AI chip designer Marvell Technologies (MRVL) were up 10% to around $290 in early action Monday. The move, powered by news released late Friday that the company is set to join the S&P 500 in two weeks, doesn't restore the stock to recent highs after the tech rout that ended last week, but would help close the gap. Marvell's shares, which ended May at $205, last week rose above $320 before finishing Friday around $263.

Last week's whipsaw trading in Marvell shares was in some ways a microcosm for the way the AI trade is playing out lately. There's optimism—a massive early-week jump in Marvell happened after Nvidia (NVDA) CEO Jensen Huang tipped the company as a likely future $1 trillion company—but also broad caution, as illustrated by Friday's 4% drop in the Nasdaq Composite. (Marvell's market cap has a way to go to reach 13 digits; it's currently at less than a quarter of that even after rising more than 200% this year.)

Some market watchers are likening last week's market ructions to a speed bump, but there's little doubt that investors have a lot to take in in the coming days. Last week's monthly jobs numbers, which came in strong, dashed some hopes for a coming interest-rate cut. Inflation data due Wednesday could offer another redrawing of expectations about what the Fed will do over the balance of the year. Meanwhile, SpaceX's massive IPO, expected this week, will be another measure of the appetite for tech.

"Stock market participants have been reminded that 'trees don’t grow to the sky,' that overconcentration carries risks, and that diversification across sectors, market capitalization, and style can help one’s portfolio navigate choppiness when market fund flows move suddenly from 'risk on' to 'risk off' as they did late last week," Oppenheimer analysts wrote Monday.

As for the other company set to join the S&P 500, it's rising this morning too—though not nearly as much as Marvell. Flex (FLEX), a contract electronics manufacturer, was recently up 1%.