Hormuz Status, MU Earnings and Other Key Things to Watch this Week Gavin McMaster Sun, June 21, 2026 at 10:00 AM PDT 6 min read SPCX Markets enter a busy week focussed on volatility around Iran negotiations and the Strait of Hormuz, where Iran announced Saturday it was closing the waterway citing ceasefire violations, only to commit to sending negotiators to Switzerland for Sunday talks with Vice President J.D. Vance. The U.S. and Iran signed a memorandum of understanding last Wednesday that opened Hormuz with Lebanese ceasefire components, though fighting between Israel and Iranian-ally Hezbollah resumed Saturday despite their Friday agreement. More News from Barchart Oracle Stock Tumbles on Higher Capex and Equity Raise - Shorting ORCL Puts Works Micron Technology Earnings: Bull Put Spread Trade Stop Missing Market Moves: Get the FREE Barchart Brief your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! The situation remains fluid with 55 commercial ships transiting Saturday despite closure announcements, creating uncertainty about whether the MOU framework will hold or if geopolitical tensions will spike energy prices again. The stock market rebounded sharply last week with gains concentrated in semiconductor and AI-related plays alongside biotech, signaling a potential stabilization of the tech sector rotation. However, SpaceX (SPCX) fell sharply from Tuesday's record highs despite the broader market recovery, suggesting the mega-cap IPO faces continued volatility even as other technology stocks stabilize. Thursday delivers an economic data convergence with Q1 GDP revision, May Core PCE, durable goods orders, and initial jobless claims all at 8:30am, providing comprehensive economic assessment. The week features critical semiconductor earnings from Micron (MU) Wednesday and FedEx (FDX) Tuesday testing chip demand and logistics health. Here are 5 things to watch this week in the Market. Iran Negotiations and Hormuz Volatility The extraordinary swings around Iran policy create maximum uncertainty as the regime simultaneously announces Strait of Hormuz closure while committing to negotiations in Switzerland with VP Vance. The credibility of Iran's closure announcement is questionable given that 55 commercial vessels transited Saturday and the U.S.-Iran MOU signed Wednesday explicitly addressed Hormuz access as part of a broader framework. The fact that Iran is willing to send negotiators despite claiming closure suggests the announcement may represent negotiating posture rather than definitive policy. The Lebanon ceasefire component within the Hormuz MOU represented significant Iranian concession, yet Hezbollah fighting resumed Saturday despite Friday's agreement, creating questions about whether the MOU framework can hold amid ongoing regional hostilities. Markets face binary outcomes either the Sunday talks and existing MOU establish foundation for sustained Hormuz access normalizing energy markets, or geopolitical deterioration reignites supply concerns and energy price spikes. The 55 ships transiting Saturday suggest commercial operators retain confidence in passage despite closure rhetoric. Energy prices will track negotiation outcomes closely, with any resolution supporting market relief while deterioration would spike crude prices and reignite inflation concerns that constrain Fed policy flexibility. The Hormuz situation remains the most significant external variable affecting U.S....
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