US Stocks Rise as Tech Sector Leads with +2.23% Gain in XLK
A 5-minute read of yesterday's US session and today's catalysts — what to watch before pre-market opens at 21:30 HKT.
TL;DR
The US stock market saw a positive session with the XLK sector leading the gains, rising by +2.23%. The S&P 500 closed at 7,580.06, up +0.22%, while the Nasdaq 100 closed at 30,333.18, up +0.36%.
The market's positive performance was driven by gains in the tech sector, with MSFT rising by +5.45% and AVGO rising by +4.73%. However, the Russell 2000 closed lower, down -0.59% at 2,919.34.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,580.06 | +0.22% | |
| Dow Jones | 51,032.46 | +0.72% | |
| Nasdaq 100 | 30,333.18 | +0.36% | |
| Russell 2000 | 2,919.34 | -0.59% | |
| VIX | 15.32 | -2.67% | |
| 10Y Yield | 4.45 | -0.04% | |
| WTI Crude | 87.36 | -1.73% |
Top large-cap movers
| Ticker | Close | Change |
|---|---|---|
| MSFT | 450.24 | +5.45% |
| AVGO | 446.77 | +4.73% |
| GS | 1,025.56 | +1.70% |
Spotlight
| Key Metrics | Value |
|---|---|
| MSFT Earnings Per Share | 2.35 |
| MSFT Revenue Growth | +10.2% |
MSFT reported strong earnings, with EPS of 2.35 and revenue growth of +10.2%. The company's cloud computing segment drove the growth, with Azure revenue increasing by +20%.
The strong earnings report from MSFT helped drive the tech sector higher, with the XLK sector rising by +2.23%. The report also helped boost investor sentiment, with the S&P 500 closing at 7,580.06, up +0.22%.
Macro & Fed
- Current policy rate: 4.25%-4.50%
- 10Y Yield: 4.45, down -0.04%
- Today's data releases:
- Personal Income (08:30 HKT)
- Personal Spending (08:30 HKT)
- PCE Price Index (08:30 HKT)
Geopolitics & Global
- Tensions between the US and China remain high, with ongoing trade negotiations
- The European Central Bank is expected to raise interest rates at its next meeting
- The Japanese government announced a new stimulus package to boost economic growth
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 01 Jun 2026 | AAPL | Q2 earnings, iPhone sales |
| 02 Jun 2026 | GOOGL | Q2 earnings, ad revenue growth |
Stocks Worth Watching
- NVDA: upcoming earnings report and potential impact on the tech sector
- TSLA: production updates and potential impact on the electric vehicle market
- JPM: upcoming earnings report and potential impact on the financial sector
- GS: upcoming earnings report and potential impact on the financial sector
- AVGO: recent stock price movement and potential impact on the semiconductor industry
What Could Break the Tape
A downturn in the global economy, led by a decline in China's economic growth, could negatively impact the US stock market. Additionally, a rise in interest rates by the Federal Reserve could lead to a decrease in consumer spending and business investment.
A strong earnings season, with companies reporting better-than-expected profits, could boost investor sentiment and drive the market higher. Additionally, a resolution to the US-China trade tensions could lead to an increase in trade and economic growth.