{"id":63370,"date":"2026-06-18T08:38:17","date_gmt":"2026-06-18T12:38:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-manufacturing-rebounds-as-trump-announces-apple-intel-domestic-chip-deal\/63370\/"},"modified":"2026-06-18T08:38:17","modified_gmt":"2026-06-18T12:38:17","slug":"us-manufacturing-rebounds-as-trump-announces-apple-intel-domestic-chip-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-manufacturing-rebounds-as-trump-announces-apple-intel-domestic-chip-deal\/63370\/","title":{"rendered":"US Manufacturing Rebounds as Trump Announces Apple-Intel Domestic Chip Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) shares surged over 9%<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> following an announcement by President Trump that <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has agreed to manufacture chips domestically<\/strong> using Intel&#39;s foundry services.<\/li>\n<li><strong>The Philadelphia Fed Manufacturing Index jumped to 10.3 in June<\/strong>, significantly outperforming the -0.4 reading in May and beating analyst estimates of 10.0, signaling a sharp recovery in regional industrial activity.<\/li>\n<li><strong>US Initial Jobless Claims fell to 226,000<\/strong> for the week ending June 13, remaining near historic lows despite a slight miss against the 225,000 estimate, while <strong>Continuing Claims rose to 1.81 million<\/strong>.<\/li>\n<li><strong>OPEC raised its 2050 world oil demand forecast to 124 million barrels per day (bpd)<\/strong> in its 2026 World Oil Outlook, maintaining that peak demand is not yet on the horizon.<\/li>\n<li><strong>Accenture (<a href=\"\/stock\/ACN\">ACN<\/a>) shares plummeted 14%<\/strong> after the consulting giant reported a revenue miss and lowered its full-year profit outlook, citing a slowdown in discretionary IT spending.<\/li>\n<\/ul>\n<h2>Manufacturing and Labor Markets Signal Resilience<\/h2>\n<p>The US manufacturing sector showed unexpected strength in June as the <strong>Philadelphia Fed Business Outlook Survey surged to 10.3<\/strong>, up from a contractionary -0.4 in May. This reading exceeded the consensus estimate of 10.0, suggesting that industrial activity in the Mid-Atlantic region is expanding at a healthy clip. <em>Economists view the Philly Fed index as a leading indicator for national manufacturing trends<\/em>, and today\u2019s data suggests a broader stabilization in the sector.<\/p>\n<p>In the labor market, <strong>Initial Jobless Claims decreased by 4,000 to 226,000<\/strong> for the week ending June 13. While slightly higher than the 225,000 forecast, the figure remains consistent with a tight labor market. However, <strong>Continuing Claims rose to 1,810,000<\/strong> for the week ending June 6, surpassing the 1,789,000 estimate. This suggests that while layoffs remain low, unemployed workers may be taking longer to find new positions.<\/p>\n<h2>Trump Reveals Apple-Intel Chip Partnership<\/h2>\n<p>In a major move for domestic semiconductor production, President Donald Trump announced via Truth Social that <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has agreed to work with Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong> to design and build chips within the United States. The deal follows a reported <strong>$8.9 billion investment by the US government in Intel<\/strong> last August, which gave the administration a 10% stake in the company. Intel shares spiked <strong>9%<\/strong> on the news, while Apple shares saw a modest <strong>0.5%<\/strong> gain.<\/p>\n<p>The partnership marks a strategic shift for Apple, which has long relied on Taiwan Semiconductor Manufacturing (<a href=\"\/stock\/TSM\">TSM<\/a>) for its advanced processors. <em>Analysts suggest the move is intended to mitigate supply chain risks<\/em> and respond to rising costs in the global chip market. Apple CEO Tim Cook recently noted that price hikes for consumer devices are becoming &quot;unsustainable&quot; due to a &quot;memory chip crunch,&quot; leading to a <strong>6% jump in Western Digital (<a href=\"\/stock\/WDC\">WDC<\/a>)<\/strong> and a <strong>4.6% rise in Micron (<a href=\"\/stock\/MU\">MU<\/a>)<\/strong> shares today.<\/p>\n<h2>Global Energy and Monetary Policy<\/h2>\n<p><strong>OPEC released its 2026 World Oil Outlook<\/strong>, maintaining its 2030 demand forecast at <strong>113.3 million bpd<\/strong> while raising its long-term 2050 view to <strong>124 million bpd<\/strong>. The report emphasized that &quot;peak demand is not on the horizon,&quot; contradicting some Western forecasts that predict a faster transition away from fossil fuels. Meanwhile, in Norway, the <strong>oil service union extended its strike<\/strong> by 244 workers, adding potential pressure to North Sea supply.<\/p>\n<p>In Europe, the <strong>Swiss National Bank (SNB) left interest rates unchanged at 0%<\/strong> today. The central bank indicated a &quot;hands-off&quot; policy is likely to persist for some time as it monitors inflation, which rose to <strong>0.6% in May<\/strong> due to higher energy costs. The SNB reiterated its willingness to intervene in foreign exchange markets to prevent an excessive appreciation of the Swiss Franc ($CHF).<\/p>\n<h2>Corporate Earnings and Market Movers<\/h2>\n<p><strong>Accenture (<a href=\"\/stock\/ACN\">ACN<\/a>)<\/strong> led the laggards in pre-market trading, falling <strong>14%<\/strong> after reporting third-quarter revenue that missed expectations. The company also issued a disappointing full-year profit forecast, which dragged down other IT services stocks including <strong>IBM (<a href=\"\/stock\/IBM\">IBM<\/a>)<\/strong>, which fell <strong>5%<\/strong>, and <strong>Infosys (<a href=\"\/stock\/INFY\">INFY<\/a>)<\/strong>, down <strong>4%<\/strong>.<\/p>\n<p>Conversely, <strong>Nucor (<a href=\"\/stock\/NUE\">NUE<\/a>)<\/strong> rose <strong>1.5%<\/strong> after raising its profit outlook for the next quarter, while <strong>Steel Dynamics (<a href=\"\/stock\/STLD\">STLD<\/a>)<\/strong> fell <strong>3%<\/strong> after cutting its EPS guidance. In the pharmaceutical sector, <strong>Pfizer (<a href=\"\/stock\/PFE\">PFE<\/a>)<\/strong> shares slipped <strong>1.5%<\/strong> following the announcement that its CFO will step down effective August 15.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Intel (INTC) shares surged over 9% in pre-market trading following an announcement by President Trump that Apple (AAPL) 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