Tech Bleeds, Oil Retreats, Middle East Talks Grind On

What this episode covers

Wall Street ended mixed on Monday as a wave of AI talent departures punished Alphabet and a post-IPO hangover accelerated SpaceX's three-day rout — while rotation into cyclicals and chip stocks kept the broader market afloat. Mark Gardner breaks down what moved markets overnight and what Australian investors need to watch today.In this episode:Alphabet –5% — Nobel laureate John Jumper (AlphaFold/DeepMind) leaves for Anthropic; co-Gemini architect Noam Shazeer defects to OpenAI. What back-to-back talent exits signal about Google's AI trajectory.SpaceX –16% to ~$154 — three days of losses, $600B in market cap erased. Is the $135 IPO price the next stop? Mark's view on where to watch for value.AI capex anxiety — Amazon, Meta and Microsoft shed ~$250B in combined market cap overnight. Who's writing the checks vs. who's cashing them.Micron +7% — strategic agreement with Anthropic on AI infrastructure. Super Micro Computer +16%. Getty Images soared on an OpenAI licensing deal.Lam Research — an MPC recommendation, up 5% overnight. What the team is doing with the position.Oil retreats — Brent below $78 as U.S.–Iran peace talks in Switzerland produce a 60-day oil sales waiver. Why the energy sector held firm despite the oil drop — and why Mark is watching Chevron, Conoco and ExxonMobil.WiseTech (ASX: WTC) — Morningstar's belated bear call, yesterday's 15% drop, and why MPC thinks a long-term buying opportunity may be forming under new CEO Zubin Appoo.USD/JPY at multi-month highs — where's the yen carry trade unwind? Mark's take.Alan Greenspan, 1926–2026 — a tribute to the Fed Chair who navigated irrational exuberance, the tech bubble, and the post-Volcker era.Day ahead — Wednesday's Australian CPI is the big local event. Micron earnings Thursday. What to watch.Key levels: S&P 500 7,475 | Nasdaq 26,166 | Brent $77.84 | Gold $4,192 | USD/JPY 161.60 | ASX SPI +0.2% to 8,831

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This episode is 11 minutes long.

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This episode was published on June 23, 2026.

What is this episode about?

Wall Street ended mixed on Monday as a wave of AI talent departures punished Alphabet and a post-IPO hangover accelerated SpaceX's three-day rout — while rotation into cyclicals and chip stocks kept the broader market afloat. Mark Gardner breaks...

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