Stock Market Summary – June 20, 2025

Semiconductor stocks declined after a report stated that the U.S. is reviewing measures that would end waivers allowing some chipmakers to send American technology to China. A Commerce Department official reportedly informed Samsung Electronics, SK Hynix, and Taiwan Semiconductor that he wants to cancel their waivers that enable shipping U.S. chipmaking tech to their factories in China. As a result, the VanEck Semiconductor ETF fell approximately 1%, Nvidia and Qualcomm also decreased about 1% each, whereas shares in Marvell Technology and Taiwan Semiconductor dropped by around 2% each.

Companies with big moves during trading included GXO Logistics whose shares rose up by over 11% after the firm improved its full-year earnings guidance. In contrast, Regencell Bioscience fell by more than 42% amid volatile trading following the implementation of a 38-for-1 split. Shares of CarMax jumped 6% on better-than-expected Q1 results while GMS stock increased 26% due to involved in a bidding war between QXO and Home Depot. Meanwhile, Jack in the Box shares lost 1% after receiving a Stifel downgrade to hold from buy, and shares of Accenture fell around 7% after a 6% quarterly drop in new bookings despite topping fiscal Q3 earnings and revenue expectations.

Regarding the defense stocks, Bernstein noted that they could still gain even if President Donald Trump’s “Golden Dome” project fails. Although unlikely to be accomplished by 2029, substantial spending benefiting major defense contractors is anticipated. Lockheed Martin, Northrop Grumman, RTX, L3Harris Technologies, Boeing, and BAE Systems are among the projected beneficiaries.

Lastly, JP Morgan has high expectations for Micron Technology’s earnings report next week on the backdrop of sustained momentum in high-bandwidth memory demand trends and potential consumer applications.

The Federal Reserve’s annual stress test results, to be released next week, could benefit large banks including Wells Fargo, Goldman Sachs, and Capital One. The stress test assesses how banks would cope in a severe economic downturn. Ahead of the results, analysts are hopeful that the regulatory stress capital buffers will be lowered for many leading banks. They predict weaker decline in GDP, a smaller rise in unemployment, and less severe declines in asset prices compared to last year.

Amphenol (APH), an under-the-radar company involved in the AI and data sector, could benefit from the ongoing build-out of AI data centers and infrastructure. The company’s largest and fastest-growing business is Communications Solutions, which comprises 45% of the firm. The division is fueled by strong demand from broadband, mobile networks, and data center interconnects. Amphenol’s upcoming product launches are expected to boost its growth.

Tesla is set to launch its robotaxis in Austin, Texas, on June 22. Tesla’s CEO, Elon Musk, has announced that the first driverless trip from the factory to a customer house is expected on his birthday, June 28. The launch will include a limited number of Tesla vehicles operating in a geofenced area of the city, with remote drivers monitoring the cars. Industry analysts have lauded this move, predicting it could double Tesla’s market value to $2 trillion by the end of 2023.

JPMorgan Chase is set to launch new tools that allow investors to research and purchase bonds and brokered certificates of deposit through its mobile app. The bank aims to compete with other online brokerages, and to attract investors who trade a few times a month. Despite steady gains in recent years, JPMorgan has only crossed $100 billion in assets under management. The key digital move is projected to make JPMorgan a leader in online banking.

Details about the absolute numbers for Dow, S&P, Nasdaq, and the main gainers and losers’ stocks are not provided in the text.