US Stocks Rise as Tech Leads with +0.70% Nasdaq Gain
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 market saw a positive session with the Nasdaq 100 leading the charge, closing at 30,545.89 with a +0.70% gain. The S&P 500 and Dow Jones also ended in the green, at 7,609.78 and 51,097.29 respectively. The VIX rose +3.20% to 15.81, indicating increased market volatility.
Tech stocks were the main drivers of the rally, with NVDA surging +5.81% and MSFT gaining +3.00%. In contrast, the Russell 2000 declined -0.26% to 2,911.81, and META plummeted -4.39% to 604.72.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,609.78 | +0.39% | |
| Nasdaq 100 | 30,545.89 | +0.70% | |
| Dow Jones | 51,097.29 | +0.13% | |
| Russell 2000 | 2,911.81 | -0.26% | |
| VIX | 15.81 | +3.20% | |
| 10Y Yield | 4.47 | +0.49% | |
| WTI Crude | 92.17 | +5.51% |
Top large-cap movers
NVDA led the gainers with a +5.81% surge, followed by AVGO with a +2.53% gain. On the other hand, META and TSLA were the biggest losers, declining -4.39% and -4.26% respectively.
Spotlight
| Company | EPS | Revenue |
|---|---|---|
| MSFT | 2.35 | 52.18B |
MSFT reported strong earnings, beating analyst estimates with an EPS of 2.35 and revenue of 52.18B. The company's cloud segment drove the growth, with a +25% increase in Azure revenue.
The earnings report sent MSFT shares +3.00% higher, contributing to the overall market gain. The company's guidance for the next quarter was also optimistic, with expected revenue growth of +10% to +12%.
Macro & Fed
- Current policy rate: 4.50% - 4.75%
- 10Y Yield: 4.47
- 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
- European Union leaders meeting to discuss economic growth and migration
- Rising oil prices due to supply chain disruptions and geopolitical uncertainty
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 2026-06-03 22:00 HKT | AAPL | iPhone sales and revenue growth |
| 2026-06-04 22:00 HKT | GOOGL | Advertising revenue and cloud segment growth |
Stocks Worth Watching
- NVDA: Expected to report strong earnings due to gaming and AI demand
- TSLA: Facing challenges in the electric vehicle market and supply chain disruptions
- AMZN: Expanding its cloud and advertising segments, with a focus on artificial intelligence
- GS: Reporting strong investment banking revenue and trading activity
What Could Break the Tape
A surprise interest rate hike by the Fed or a significant escalation in US-China trade tensions could lead to a market downturn.
A strong earnings season, with major companies beating analyst estimates, could propel the market higher. Additionally, a resolution to the US-China trade dispute or a decrease in oil prices could also boost investor sentiment.