US Markets Hold Near Highs as Volatility Builds: AI, Oil, and Fed Watch on June 9, 2026

US stocks traded mixed on Tuesday, June 9, 2026, as an AI- and semiconductor-led rebound in mega-cap tech met rising volatility and growing macro caution. Risk appetite narrowed around quality growth and cash-generative leaders while broader cyclicals lagged amid geopolitical and rate uncertainty.

The tech-heavy Nasdaq outperformed, lifted by strong gains in AI semiconductor giants and cloud infrastructure names, which helped offset weakness in more rate- and cycle-sensitive sectors. Elevated volatility—reflected in a higher VIX—and a firm US dollar underscored a more defensive tone beneath headline index levels, even as major benchmarks remained not far from recent highs.

Energy and macro-sensitive groups traded more unevenly as oil prices eased on signals of potential progress in US–Iran peace talks, tempering the prior risk premium that had built into crude. Investors continued to position around upcoming inflation and growth data, with long-duration growth and high-multiple AI names especially sensitive to any renewed upside surprise in yields.

Global risk sentiment remained generally constructive but selective, with AI-linked markets in Asia and key US benchmarks drawing the bulk of flows while many smaller and emerging markets saw lighter liquidity and more cautious participation. Overall, today’s tape reflected a market still willing to pay for secular AI and earnings resilience but increasingly demanding a macro safety margin in the face of policy and geopolitical unknowns.

VP Watchlist Updates

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (May 5) the first Eosinophilic Esophagitis Endoscopic Reference Score (EREFS) data from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). These data were also presented at the ongoing Digestive Disease Week (“DDW”) conference in Chicago. “The EREFS is an important, validated visual index of severity of EoE disease in the esophagus of patients. It measures edema, rings and strictures and other visible markers of disease often associated with symptoms. Today’s data demonstrated improvement in two key outcomes with EP-104GI in the treatment of EoE: first, that a full injection protocol of 20 injections resulted in more pronounced improvement than a protocol with fewer injections and less coverage area within the esophagus; second, with the higher number of injections, a consistent response in both the inflammatory and fibrotic sub scores of EREFS was observed,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “This EREFS data being reported at DDW is consistent with the improvements we have seen in EoE symptoms and tissue health (EoEHSS) and suggests improvement in inflammation, fibrosis and the associated narrowing of the esophagus.”

Modular Medical, Inc. (MODD)

Modular Medical, Inc. (NASDAQ:MODD), a leader in innovative, patient-centric insulin delivery, announced (June 4) the launch of PivotPump.com, a patient-focused website designed to support individuals seeking a simpler path to insulin pump therapy. This launch follows the Company’s receipt of U.S. Food and Drug Administration (“FDA”) clearance in April 2026 for its Pivot™ insulin delivery system. The FDA clearance represents a significant milestone in Modular Medical’s strategy to expand access to insulin pump technology, particularly among individuals historically underserved by existing solutions. The Company remains on track for commercial launch in the fall of 2026. Pivot is designed for people living with diabetes who rely on daily insulin injections, as well as those who have encountered technological, usability, or cost-related barriers with traditional pump systems. The system emphasizes simplicity and ease of use for the patient and full access to clinical information for the clinician to reduce adoption friction. The PivotPump.com website provides accessible, educational content on insulin pump therapy and highlights the Company’s focus on real-world usability and supporting patients in evaluating and adopting pump-based diabetes care.

The Sources

Here’s a clean, numbered source list you can plug directly into your article or footnotes:

1. Bloomberg – “Watch Stocks Extend Rally in AI-Led Rebound; Trump Says US-Iran Peace Deal Is Close”
   https://www.bloomberg.com/news/videos/2026-06-09/bloomberg-brief-6-9-2026-video[1]
2. Yahoo Finance – “Live: Daily Market Coverage – June 9, 2026 (9AM–11AM ET)”
   https://www.youtube.com/watch?v=Vu-sCHrccVI[2]
3. Yahoo Finance – “Yahoo Finance Live: Daily Market Coverage – June 9, 2026 (3PM–5PM ET)”
   https://www.youtube.com/watch?v=4hYaCF0bUdk[3]
4. Investopedia – “Markets News, June 9, 2026: Chip Stocks Pull Back as Nasdaq, S&P 500 End Lower”
   https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-06092026-11993707[4]
5. Wall Street Journal – “Stock Market Today: Nasdaq Rebounds Off Session Lows” (Live Coverage, June 9, 2026)
   https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-06-09-2026[5]
6. Reuters – “S&P 500, Nasdaq Rise as Tech, Chipmakers Rebound”
   https://www.reuters.com/business/sp-500-nasdaq-futures-climb-chip-stocks-stabilize-2026-06-08/[6]
7. Yahoo Finance – “‘This Is Borderline Mania’: Wall Street Sees Bubble-Like Euphoria in AI-Fueled Semiconductor Rally”
   https://finance.yahoo.com/markets/article/this-is-borderline-mania-wall-street-sees-bubble-like-euphoria-in-ai-fueled-semiconduc-…[7]
8. Micron / AI-Chip Rally Article – “Micron Surges 9% Amid AI Optimism: Tech and Chip Stocks Lead US Market Rally”
   https://denuncias.uta.edu.ec/expert-time/Tech-and-Chip-Stocks-Lead-US-Market-Rally-Micron-Surges-9-Amid-AI-Optimism-24-10910[8]
9. U.S. Bureau of Economic Analysis (BEA) – Main Indicators Page (GDP, Trade, etc.)
   https://www.bea.gov[9]
10. The Conference Board – “US Leading Indicators” (LEI, CEI, and macro outlook)
    https://www.conference-board.org/topics/us-leading-indicators/[10]
11. Federal Reserve Bank of Richmond – “National Economic Indicators – June 1, 2026” (PDF)
    https://www.richmondfed.org/-/media/richmondfedorg/research/national_economy/national_economic_indicators/pdf/all_charts.pdf[11]