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Weekly Market Update – June 8, 2026

Price Return Last Week

S&P 500  (2.5%)  S&P Mid Cap  (0.9%)  Russell 2000  (2.9%)

MSCI EAFE (1.4%)     MSCI EM (2.0%)

10 Yr US Treasury Rate – rose from 4.45% to 4.54%

Source: Refinitiv Eikon

Recent News


Jobs Report – May: 172k (Reuters Poll est. 85k) Apr: 179k

In a surprise to the market, payroll additions in May were reported far above most estimates and higher than the highest analyst estimate.  Revisions made to April also surprised to the upside, changing the total number of jobs added from 115,000 to 179,000.  The economy has now added jobs in the last three consecutive months, averaging 188,000 per month.  This represents the fastest job growth over a three-month period in over two years.  Despite this good economic news, the stock market sank as expectations for an interest rate increase by the Federal Reserve rose following the report.

Source: The Wall Street Journal


Anthropic IPO – Just days ahead of SpaceX launching as a public company, Anthropic submitted paperwork to go public as well.  While the timing of their initial public offering is still uncertain, they are required to present their official prospectus to investors at least 15 days before their IPO.  Anthropic’s most recent valuation in the private markets was $965 billion, which would make it the thirteenth largest company in the S&P 500 if it maintained that valuation once public.

Source: CNBC.com, Refinitiv


S&P 500 Refuses to Change Rules – Despite recent rumors that indicated that S&P Dow Jones Indices was set to change their rules for inclusion in the S&P 500 index to fast track the path for SpaceX and others to join, the company confirmed on Thursday that they will not adjust their eligibility criteria.  This means that new public companies must wait 12 months from their IPO date at a minimum.  They must also show profitability over their prior 12 months to be considered.  In contrast to S&P, Nasdaq stated in April that they would change their rules to allow large companies to join the Nasdaq 100 only 15 days after their IPO.

Source: Barron’s


World Cup Kicks Off – The 2026 FIFA World Cup launches on June 11, with North America serving as host.  Spain is listed as the favorite, edging out the French national team.  Team USA has the thirteenth best odds of winning at 60-1.  USA’s best ever finish took place in 1930 when they came in third place.

Upcoming Events


6/8 – Apple WWDC


6/10 – CPI, Notable Earnings Reports: Oracle


6/11 – PPI, Notable Earnings Reports: Adobe


6/12 – SpaceX IPO, Consumer Sentiment

Source: Refinitiv Eikon


This material, including references to specific securities, is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Views are as of the date shown and may change. Forecasts and forward-looking statements are not guarantees of future results. Information is believed reliable but not guaranteed for accuracy or completeness; third-party sources are not affiliated with Chesley, Taft & Associates (CTA).  Indexes are unmanaged, not investable, do not reflect fees or expenses, and shown for illustrative purposes only. Past performance is not indicative of future results. Viewing this material does not create an advisory relationship with CTA.

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