US Stocks End Mixed as Tech Leads Gains
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 ended the previous session mixed, with the S&P 500 closing at 7,580.06, up +0.22%, while the Nasdaq 100 outperformed with a +0.36% gain to 30,333.18. The Dow Jones led the major indices, rising +0.72% to 51,032.46.
Tech stocks were among the top performers, with MSFT surging +5.45% to 450.24 and AVGO gaining +4.73% to 446.77. In contrast, the Russell 2000 fell -0.59% to 2,919.34, and the VIX declined -2.67% to 15.32.
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 | 89.53 | +2.48% |
Top large-cap movers
MSFT led the large-cap gainers, surging +5.45% to 450.24, followed by AVGO, which rose +4.73% to 446.77. On the downside, GOOGL fell -2.51% to 380.34, and NVDA declined -1.45% to 211.14.
Spotlight
| Key Metrics | Value |
|---|---|
| MSFT Stock Price | 450.24 |
| MSFT Daily Gain | +5.45% |
| MSFT Market Cap | 2.15T |
MSFT was the top performer among large-cap stocks, driven by strong earnings and revenue growth. The company's cloud computing business continued to drive growth, with +20% year-over-year revenue increase. MSFT also announced a +10% dividend increase, boosting investor confidence.
Macro & Fed
- Current policy rate: 4.50%-4.75%
- 10Y Yield: 4.45, -0.04%
- Today's data releases:
- ISM Manufacturing Index (22:00 HKT)
- Construction Spending (22:00 HKT)
Geopolitics & Global
- Ongoing tensions between the US and China over trade and security
- Rising concerns over global economic growth and inflation
- European Central Bank meeting to discuss interest rates and monetary policy
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 2026-06-02 22:00 HKT | AAPL | Q2 earnings and revenue growth |
| 2026-06-03 22:00 HKT | GOOGL | Q2 earnings and advertising revenue growth |
| 2026-06-04 22:00 HKT | AMZN | Q2 earnings and cloud computing revenue growth |
Stocks Worth Watching
- NVDA: Earnings report and guidance for the next quarter
- TSLA: Production and delivery numbers for Q2
- JPM: Earnings report and update on banking sector trends
- GS: Earnings report and guidance for the investment banking sector
- AVGO: Earnings report and update on semiconductor demand
What Could Break the Tape
Potential risks to the market include a slowdown in global economic growth, rising inflation, and ongoing geopolitical tensions. A surprise interest rate hike by the Federal Reserve could also lead to a market downturn.
On the other hand, a strong earnings season, coupled with a dovish Federal Reserve, could lead to a market rally. Additionally, any positive developments in the US-China trade negotiations could boost investor sentiment and drive the market higher.