US Stocks: Marvell Technology Surged 9% After Being Named A New S&P 500 Member Joining June 22, Corning Jumped 9.31% On An Amazon Optical Fibre Deal, While The Russell 2000’s Sharp Small-Cap Decline Amid Large-Cap Strength Signals A Flight-To-Quality Rotation Still Very Much In Progress
According to The Wall Street Journal and TheStreet, US equity markets rebounded on Monday after Iran’s Ministry of Foreign Affairs confirmed to CNBC that military strikes against Israel had ceased; though Tehran warned it would resume hostilities if Israel continued operations in southern Lebanon.
The S&P 500 gained 0.93%, while the Dow Jones Industrial Average edged up 0.58%. The Nasdaq Composite rose 1.44%, and the Russell 2000 slipped 3.47%.
The rebound followed a brutal Friday in which the Nasdaq fell 4.18%; its largest single-day decline since April 2025 as chip stocks sold off sharply on a stronger-than-expected May jobs report that spiked Treasury yields and pushed back Federal Reserve rate cut expectations.
Monday’s individual movers told a distinctly AI infrastructure story. Corning surged 9.31% after Amazon announced a multibillion-dollar agreement with the materials science company to provide optical fibre to power its expanding US data centres. Marvell Technology surged 9% after the AI chipmaker was announced as a new S&P 500 addition joining the benchmark index on June 22. Flex also rose 4.3%, likewise confirmed as a new S&P 500 entrant.
The Russell 2000’s sharp 3.47% decline against large-cap gains reflects a flight-to-quality rotation; investors concentrating in mega-cap names while smaller companies face the full pressure of elevated borrowing costs.
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