01 Stock Market
As of Jun 3, U.S. stock index futures performed as follows: Dow futures fell 0.29% as profit-taking hit economically sensitive names, S&P 500 futures slipped 0.10% amid caution ahead of key earnings, while Nasdaq 100 futures inched 0.21% higher thanks to ongoing strength in large-cap technology shares.
Notable Stock Movers: MRVL up 12.54% at $327.26 after bullish comments from a major chipmaker CEO; INTC up 5.62% at $114.00 on renewed enthusiasm for data-center demand; AMD up 2.77% at $536.00 as investors rotate into AI hardware plays; NVDA up 0.60% at $224.16 extending its record run; GOOG down 1.39% at $353.40 on dilution concerns tied to a large equity sale.
Pre-market leadership remains concentrated in semiconductors, where rising capital-expenditure plans from cloud giants and fresh endorsements by industry executives are propelling optical-networking and custom-chip specialists. By contrast, cyclicals and rate-sensitive sectors lag, mirroring the modest pullback in Dow and S&P contracts ahead of a busy session featuring tier-one earnings releases and macro catalysts.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.58%, to 4.48%.
• U.S. Dollar Index rose 0.12% to 99.35.
• WTI crude oil futures rose 1.96% to 95.60 USD/barrel; COMEX gold futures fell 0.67% to 4 489.50 USD/ounce.
03 Key News
1. Medtronic beat Wall Street’s expectations and highlighted surging demand for heart devices. The medical-technology leader reported adjusted profit of $1.55 per share on $9.81 billion in revenue, powered by a 13.8% jump in cardiovascular sales and announced further tuck-in acquisitions to expand its product lineup, lifting pre-market shares by over 3%.
2. Macy’s raised full-year sales and earnings guidance after posting its first quarterly same-store growth since 2022. The “Bold New Chapter” strategy toward luxury formats such as Bloomingdale’s and Bluemercury lifted comparable sales, prompting management to project fiscal-year net sales of up to $21.75 billion and adjusted EPS of up to $2.20.
3. Broadcom is set to report record second-quarter results amid accelerating AI chip demand. Consensus points to $22.1 billion in revenue and $2.40 adjusted EPS, with investors focused on guidance for networking and custom silicon orders tied to hyperscale data-center spending.
4. SpaceX intends to price its forthcoming initial public offering at $135 per share, targeting a $75 billion capital raise and a $1.75 trillion valuation. The all-primary deal will allocate proceeds to satellite expansion and AI computing capacity, with up to 30% of shares earmarked for retail investors, signaling an unprecedented public market debut strategy.
5. GameStop authorized a $2 billion stock-repurchase program after delivering record first-quarter profit. The videogame retailer’s turnaround momentum and aggressive buyback plan sparked an 8% pre-market rise, reigniting interest in the influential meme-stock favorite.
6. Nvidia CEO Jensen Huang declared Marvell Technology the potential “next trillion-dollar company,” fueling a sharp rally in semiconductor peers. The endorsement spotlighted Marvell’s optical interconnect and custom-chip portfolio for AI data centers, amplifying pre-market gains across the broader chip complex.
7. Chinese AI firm DeepSeek is poised to raise roughly $7 billion from investors including Tencent and CATL in its debut funding round. The deal would value the start-up at up to $59 billion, underscoring global competition for large-scale language-model leadership and highlighting surging private-sector appetite for generative-AI assets.
8. Coinbase Ventures acquired tokens in Ethena and forged a partnership to broaden on-chain savings products for over 100 million users. The strategic investment marks Coinbase’s first stake in the stablecoin platform, sending ENA tokens up nearly 10% and reinforcing the exchange’s push into decentralized finance.
9. The Bank of England’s House of Lords committee urged regulators to soften proposed caps on stablecoin holdings. Lawmakers argued current limits could stifle innovation in digital payments and recommended a phased approach for integrating stablecoins into the U.K.’s financial system.
10. Former U.S. President Donald Trump claimed that Iran has agreed not to pursue nuclear weapons, hinting at potential diplomatic progress. The statement, delivered during a podcast interview, adds a fresh dimension to Middle-East geopolitics and could influence market perceptions of energy-sector risk premiums.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
