CBC Daily Digest

You’ve never experienced business news like this.

Morning Brew delivers business news the way busy professionals want it — quick, clear, and written like a human.

No jargon. No endless paragraphs. Just the day’s most important stories, with a dash of personality that makes them surprisingly fun to read.

No matter your industry, Morning Brew’s daily email keeps you up to speed on the news shaping your career and life—in a way you’ll actually enjoy.

Best part? It’s 100% free. Sign up in 15 seconds, and if you end up missing the long, drawn-out articles of traditional business media, you can always go back.

Check it out

Stocks Waver as Bond Yields Climb; Risk Appetite Faces Renewed Pressure

Russell 2000 Index

📊 Russell 2000 (RUT) – June 10, 2025

• Closing Level (June 10): ~2,147.4 (E-Mini Futures) 

• Daily Change: +13.9 points (+0.7%) — modest rebound after slight pullback earlier in the week 

• Day’s Range (June 9): 2,131.4 – 2,157.5 

• 52-Week Range (Futures): ~1,709.1 – 2,501.7 

🔍 📈 Technical Overview

• Short-Term Support: ~2,133 – 2,136 — aligned with recent intraday lows and the classic pivot point from MyPivots 

• Resistance Levels:

  • Immediate: ~2,157 – near the day’s high

  • Key: ~2,171 – next Fibonacci retracement level / R2 pivot 

• Indicators: Recent technical signals in futures suggest a “Strong Buy” bias (moving averages + momentum indicators bullish) 

🌐 🧭 Market Context

• Analyst Insight: Evercore ISI notes June seasonality often favors small-caps. Low sentiment + rebalance flows could fuel upside 

• Macro & Market Drivers: Small-caps currently trade well below long-term average and stand to benefit from a Fed pivot, easing tariffs, and modest economic growth (~0.9–1.6% GDP) 

• Volatility Watch: Debt maturities rising in Russell firms through 2025–26 raise refinancing risk—interest-rate stability is key 

✅ Conclusion

The Russell 2000 is up +0.7% to 2,147.4, now trading in a constructive range above short-term support (~2,136) and aiming to break current resistance (~2,157 → 2,171). With technicals showing bullish momentum and supportive seasonal dynamics, the small-cap benchmark could challenge the Fibonacci/pivot ceiling if U.S. macro data and Fed signals remain favorable.

PHLX Semiconductor Sector

📊 SOX Index – June 10, 2025

• Most Recent Close (June 9): 5,136.66 (+1.96%) 

• Day’s Range (June 9): 5,083.28 – 5,185.90 

• 52-Week Range: ~3,388.6 – ~5,931.8 

No official June 10 close available yet.

🔍 📈 Technical Overview

• Short-Term Support: ~5,083 – today’s low, aligning closely with the 21-day EMA 

• Resistance Levels:

  • Immediate: ~5,185 – today’s top

  • Key: ~5,300 – mid-point between recent highs and the 50% retracement level 

• Indicators Insight:

  • Stochastics and the 8-day EMA continue rebounding, signaling a medium-term bullish tilt 

  • Consolidation seen as healthy groundwork for a potential breakout above the 50-, 100-, and 200-day SMAs 

🌐 🧭 Market Context

• Sector Momentum: SOX rallied ~25% since early 2025, driven by AI-chip optimism and resolution on trade tensions 

• ETF Watch – SOXX:

  • iShares SOXX ETF closed June 9 at $222.46, +2.36%. Labelled a “Strong Buy” by technical analysis, with upside toward $227.39 

  • Forecasted intraday swing range for June 10: $216.46 – $228.46 

• Macro Drivers: AI chip demand remains strong, with chipmakers Nvidia and Broadcom reporting solid earnings 

✅ Conclusion

• SOX closed June 9 up +1.96% at 5,136.66, rebounding from key support (~5,083) and holding above its 21-day EMA.

• With stochastics recovering and momentum indicators bullish, a move above ~5,185 could open the next leg toward ~5,300.

• Keep an eye on chip earnings, sentiment in SOXX ETF, and broader macro headlines—for now, chip sector momentum remains constructive with upside bias.

Tech Stocks Drive Gains Amid Broad Market Slump; Energy and Banks Lag Behind

📉 Notable Decliners

2. ReShape Lifesciences (RSLS)

• Industry: Medtech / Healthcare

• Change: –38.8% pre-market 

• Why it’s Noteworthy: Nearly 40% plunge, perhaps tied to disappointing trial data or revision in outlook.

1. Children’s Place (PLCE)

   • Industry: Consumer Discretionary / Apparel Retail

   • Change: –31.5% pre-market 

   • Why it’s Noteworthy: Heavy sell-off before market open—likely due to soft earnings or poor guidance.

     Circle (CRCL) continues its post-IPO fireworks—now up ~23% pre-market after debuting at +168%—crypto sentiment remains hot but volatile.

   • Biotech/medtech small-caps (like KLTO, RSLS, OMH) are delivering extreme price swings driven by speculative news/events—these are high-risk trades.

   Consumer retailer Children’s Place (PLCE) is down sharply—signals caution in discretionary spending or sector headwinds.

📈 Notable Gainers