Good morning, you're tuned to Markets Desk, and here's what's moving right now.
Marvell Technology is the headline mover in premarket, jumping nearly nine percent after S&P Global confirmed the AI chipmaker will join the S&P five hundred on June twenty-second. Index inclusion forces passive funds to buy the stock mechanically, and that mandatory demand is exactly what's driving the surge you're seeing before the open.
Shifting to gold, and there's a real reckoning happening for the safe-haven narrative. The metal has fallen during the Iran conflict, directly contradicting the conventional wisdom that geopolitical stress sends investors rushing into gold. What this exposes is that the relationship between crisis and gold is far more conditional than Wall Street has long suggested — context, dollar strength, and real yields all matter enormously.
And if you filed a tax extension this spring, the IRS has not forgotten about you. An extension buys time on paperwork, not on payment. If you underestimated what you owe and haven't settled that balance, penalties and interest have been compounding daily since April fifteenth — so the clock is very much still running.
That's the tape. Markets Desk, signing off the floor.
