5 Things to Watch on
June 18, 2026

Stocks are up more than +0.8% in premarket trading as markets digest Federal Reserve Chairman Kevin Warsh's hawkish debut. Two-year Treasury yields steadied around 4.17% after surging 13 basis points yesterday, their biggest single-day jump since April 2025 and the largest on a Fed meeting day since 2008.

Intel (INTC) jumped +9% in premarket trading after President Trump said Apple (AAPL) will design and build its chips domestically with the company. The pact adds to INTC's reshoring momentum, following deals with Nvidia (NVDA) and Elon Musk's planned TerraFab, and builds on Washington's 2025 move to take a 10% stake backed by roughly $10B. It chips away at AAPL's heavy reliance on Taiwan's TSMC (TSM) and lifted chip stocks broadly.

Noam Shazeer, Alphabet's (GOOGL) engineering VP and Gemini co-lead, said yesterday he is leaving to join OpenAI, the ChatGPT maker reportedly heading toward an IPO. The exit comes less than two years after GOOGL reportedly paid $2.7B to lure Shazeer back from his startup Character.AI with a team of researchers. Appointed in 2024 to co-lead Gemini, he is credited with helping the model close the gap on ChatGPT. He said he was "excited" for the move.

Alphabet's (GOOGL) Waymo is recalling 3,871 robotaxis after identifying a software defect that could allow its driverless vehicles to enter closed freeway construction zones and keep driving at highway speeds. The flaw affects cars running its fifth-generation Automated Driving System, which regulators warn could raise crash risk. Waymo is rolling out a free over-the-air update to sharpen location detection and has narrowed the fleet's operating limits, restricting freeway driving until the fix is fully deployed.

Target (TGT) is teaming with Hollister, the teen brand owned by Abercrombie & Fitch (ANF), to sell home and dorm decor aimed at the back-to-school crowd. The Hollister Collection launches June 28 online, across most TGT stores, and at select Hollister locations, marking the brand's first push beyond apparel, fragrances, and accessories. The tie-up targets a back-to-college market that approached $90B last year, or about $1,364 per shopper, as both chains chase fresh revenue.