01 Stock Market
As of Jun 8, U.S. stock index futures performed as follows: Dow Jones contracts advanced 0.28%, while S&P 500 and Nasdaq 100 futures gained 0.69% and 1.29%, respectively, pointing to a constructive tone after last week’s slide. The positive skew suggests investors are tentatively re-engaging with risk ahead of a busy week of central-bank meetings, inflation data and high-profile corporate events.
Notable Stock Movers: Chipmakers paced pre-bell activity, with MRVL up 8.93% at $287.00, MU up 7.04% at $924.81 and AMD up 3.06% at $480.67. ETF leverage to the group also surged, as SOXL up 11.21% at $203.01. AI bellwether NVDA up 2.31% at $209.84, while legacy leader INTC up 3.01% at $102.15. Electric-vehicle heavyweight TSLA up 1.82% at $398.12, and biotech name NRIX up 15.37% at $16.89 after unveiling a major partnership.
Sector snapshot: Early strength is concentrated in semiconductors and high-growth technology, counterbalancing milder gains in broader cyclicals. Conversely, inverse technology ETFs such as SQQQ traded lower, reflecting improved sentiment. With futures in the green and several deal-related catalysts on deck, traders are watching whether the chip-led rebound can extend to the wider market once the opening bell rings.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.05%, to 4.54%.
• U.S. Dollar Index fell 0.16% to 99.91.
• WTI crude oil futures rose 1.01% to 91.45 USD/barrel; COMEX gold futures fell 0.23% to 4355.10 USD/ounce.
03 Key News
1. Iran’s armed forces declared an end to offensive operations against Israel and warned of tougher retaliation if hostilities resume. The announcement signals a pause in recent regional escalations but underscores lingering tensions, keeping energy and defense markets on alert for any renewed conflict that could disrupt trade routes or supply chains.
2. Houthi militants claimed a missile barrage toward Israel’s Jaffa area and imposed an immediate ban on Israeli shipping in the Red Sea. The group vowed coordinated actions with regional allies, sending oil prices higher as traders assessed potential risks to maritime traffic and crude supply.
3. Former U.S. President Donald Trump publicly urged Israel and Iran to halt military exchanges. His social-media appeal added diplomatic pressure for de-escalation and highlighted global concern that prolonged conflict could stoke volatility in energy and financial markets.
4. Nurix Therapeutics entered a licensing and collaboration pact with Roche worth up to $2.3 billion. The agreement grants Roche rights to develop blood-cancer candidate bexobrutideg, with Nurix receiving $700 million upfront and sharing future development costs and milestones, propelling Nurix shares sharply higher in pre-market trade.
5. Tencent Holdings is preparing a dual-currency bond offering of about $3 billion. The tech giant secured approval for up to $4.5 billion in offshore debt and plans to issue 10- and 20-year dollar bonds alongside yuan-denominated notes, aiming to refinance liabilities and bolster general corporate funding.
6. Manchester United’s controlling Glazer family is exploring a potential sale of part or all of its stake in the club. Internal discussions follow previous partial divestments and come amid renewed investor interest; the report sent the club’s New York–listed shares up sharply in pre-market dealings.
7. SpaceX set terms for a record $75 billion initial public offering at a fixed price of $135 per share. The filing indicates the company could join the Nasdaq 100 within weeks of listing, triggering substantial passive fund inflows as investors prepare for the world’s most valuable space and AI enterprise to go public.
8. Goldman Sachs postponed its forecast for Federal Reserve rate cuts to 2027, citing resilient U.S. growth and labor strength. The bank now envisions no policy easing for roughly three years, suggesting higher-for-longer borrowing costs that could reshape corporate financing strategies and equity valuations.
9. NVIDIA CEO Jensen Huang framed the recent technology share pullback as a buying opportunity. Emphasizing that global demand for AI infrastructure is still in its infancy, Huang highlighted new partnerships on advanced memory chips and reiterated his confidence in long-term chip-sector growth.
10. Oracle readies for its forthcoming quarterly earnings release, with analysts projecting 20% revenue growth to about $19 billion. Investors will scrutinize cloud-infrastructure momentum, remaining performance obligations exceeding $500 billion, and the firm’s plans to manage rising debt after authorizing up to $50 billion in new financing.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
Comments