Trade Wire: 2026/06/10
Wonderful Day for a Trade Wire!!!
Iran War Escalation:
Overnight, we saw escalations with the Iran/US war, which led to a final hour of pain in the broader markets
A United States fighter jet was struck down over the Strait of Hormuz, although Iran denied responsibility
Trump pledged strikes, causing markets to spook. After trading hours, it was confirmed by CentCom on X that the United States carried out strikes targeting specific locations.
This sent broader indexes down heavily. The SPY was down an additional $40 after hours, or 0.55%.
Trump then stated that the strikes were called off after it was reported that Iranian Officials called him pleading to end the strikes. Trump gave them a 1 day extension to sign the deal or be “bombed.”
This has now lifted markets after hours, leading the QQQ up 0.7%, and the SPY up 0.41%
Jobless Claims & PPI Scheduled for Today:
The jobless claims are scheduled for 8:30 am today, and the projections are 220,000, with the prior coming in at 225,000
A blowout beat to the downside will most likely spook markets the same way the labour report did last week. Anything in line or slightly higher will probably help markets recover, giving more fuel to a relief rally on Friday
In our opinion at Aria, we believe the only catalysts to worry about from the calendar above are the Jobless Claims. Unless PPI is extremely higher than estimates, this shouldn’t move the needle the way the Jobless Claims will.
Key Levels and Stocks to Watch: (AS LONG AS THERE ISN’T AN IRAN ESCALATION)
Make sure you pay attention to the QQQ’s
After the dust has settled from the Jobs Report, a recovery of $700 will help push the rally farther. Pay attention to the first 15 mins for the regain of this level. This is crucial for an intraday tech rally.
