US and Iran concluded their first round of negotiations in Burgenstock, Switzerland, aiming to end conflict and establish de-escalation groups for Lebanon. They also agreed on communication channels for safe passage through the Strait of Hormuz, key to global oil trade [1, 2, 3, 4]. US Vice President Vance said the talks made progress, triggering crude oil prices to plunge over 3% [5]. Brent crude fell below $79 per barrel, trading around $77 to $79, while WTI traded near $73 to $75 per barrel [5, 6, 7, 3, 8, 9]. The US Treasury partially lifted sanctions on Iranian oil, allowing a 60-day window for Iran to resume sales, which helped ease energy supply and inflation concerns [8, 10].
US stock markets on June 22 posted mixed results. The Dow Jones Industrial Average rose nearly 148 points to about 51,713, but the S&P 500 slipped approximately 27 to 28 points to 7,473. The NASDAQ Composite fell by 300 to 580 points, closing near 26,167, with sources differing on its exact decline [5, 6, 4, 9]. Technology stocks dragged major indexes down as Alphabet (Google's parent) dropped more than 5%, along with Microsoft, Amazon, and Meta [5, 1, 2]. Meanwhile, semiconductor stocks surged, pushing the Philadelphia Semiconductor Index up over 200 points (around 2–2.5%) to close at 14,635 [5, 4, 9]. Intel reported rumored deals with Taiwan’s UMC on advanced 3nm chips and with Apple on new projects, raising its stock [1, 2, 3]. Micron Technology shares rose 4–7% ahead of its earnings report due June 24, fueled by strong AI demand [1, 7, 11].
Taiwan’s stock market experienced a robust rally on June 22, with the Taiwan Weighted Index jumping 1,276 points (2.75%) to close at a record 47,742 points [1, 7, 11]. Taiwan Semiconductor Manufacturing Company (TSMC) shares hit a record high of 2,510 NTD, helping lead the market higher [1, 11, 2]. Taiwan Index Futures in the night session surpassed 49,000 points for the first time, breaking previous records with gains exceeding 450 points in some sessions [1, 2, 3, 8]. Market analyst Lin Hanwei noted Taiwan’s stock resilience and predicted the index could reach 50,000 points before June 30 if semiconductor gains continue [8]. Economist Wu Jialong described the market as driven by an industrial revolution fueled by AI, saying TSMC’s pullbacks present buying opportunities even if not at the absolute bottom [7].
On June 21, US stocks were flat to slightly down as investors awaited developments in US-Iran talks and key economic data [11]. The Federal Reserve has maintained interest rates but signaled possible hikes later this year, focusing markets on upcoming inflation data, including May’s PCE report [7, 11, 2].
Micron Technology is set to release its quarterly earnings on June 24, with expectations of nearly 1000% year-over-year adjusted EPS growth driven by AI demand [1, 3].
