Market update for Wednesday June 17, 2026 Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: Kevin Warsh&#x27;s first meeting as Fed Chair and why the conversation has flipped from rate cuts to rate hikes OpenAI&#x27;s leaked Q1 financials reveal surging revenue AND surging losses Snap unveils $2,200 AR smart glasses and the stock immediately tanks AST SpaceMobile launches three satellites aboard a SpaceX rocket Lionsgate whipsaws on Netflix acquisition rumors SpaceX options shatter every record in their trading debut NOTE: No episode Thursday or Friday. The stock market is closed Friday for Juneteenth. No deep dive this weekend as well, but an interview will be posted on Sunday morning. We&#x27;ll be back on Monday with a full recap of the Fed meeting.

OpenAI Burned $3.7B in Cash Despite Surging Revenue, Snap's New Glasses Tank the Stock

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Wednesday, June 17th. In today's episode, we'll preview Kevin Warsh's first Fed meeting as chairman and what falling oil prices could mean for interest rates. We'll also break down OpenAI's leaked financials and tell you why the market was not a fan of Snap's new $2,200 smart glasses.

Then stick around to the end of the show to find out how SpaceX just shattered every options trading record on its first day. We got a great show for you today. Let's go. Markets took a bit of a breather on Tuesday after a solid three-day run. The S&P 500 fell by 0.6% while the NASDAQ dropped 1.2%. The Dow did finish in the green and hit record highs, but nobody cares about the Dow, so.

Tech was back to selling off yesterday. It was the worst performing sector, especially chip stocks like AMD, Intel, and Micron, which were all down between 6% to 7%. Energy stocks were also down yesterday as oil prices continued to fall. Brent crude fell to under $80 a barrel for the first time since March, as the U.S. and Iran are expected to sign a deal on Friday that would reopen the Strait of Hormuz and also allow Iran to sell their oil into the global market.

So this is a pretty major development, and if this deal holds, it could be a huge relief for inflation and also give the Fed some breathing room when it comes to interest rates. You know, inflation has been running above 3% for the last few months, mainly because of higher energy prices from the war. And remember, the Fed's inflation target has historically been 2%.

OpenAI Burned $3.7B in Cash Despite Surging Revenue, Snap's New Glasses Tank the Stock

Read the full transcript

The candid version is on a podcast,
not the earnings call.

OpenAI Burned $3.7B in Cash Despite Surging Revenue, Snap's New Glasses Tank the Stock

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.