01 Stock Market
As of Jun 9, U.S. stock index futures performed as follows: Dow Jones futures were up 0.14%, S&P 500 futures advanced 0.36%, and Nasdaq 100 futures gained 0.75%. The positive tone reflects stabilizing sentiment after last week’s tech-driven volatility, with traders positioning for fresh macro data and digesting a flurry of corporate headlines ahead of the opening bell.
Notable Stock Movers: Memory and semiconductor names paced early action. MU up 4.72% at $994.06 extended its recovery from last week’s slide, while MRVL up 3.56% at $299.12 attracted buyers following its pending S&P 500 inclusion. AI bellwether NVDA up 0.23% at $209.13 steadied after recent swings. Electric-vehicle leader TSLA up 0.75% at $412.00 firmed alongside broader growth peers. Meanwhile, defensive heavyweight MSFT down 0.39% at $410.13 and consumer giant AAPL down 0.64% at $299.61 saw mild pre-market giveback.
Beyond individual names, the session’s backdrop is defined by a renewed “chips and AI” bid. Leveraged semiconductor ETFs such as SOXL up 7.68% at $227.67 and TQQQ up 2.32% at $78.04 indicate momentum traders are returning to high-beta tech. Hardware ecosystem plays also participate, with QCOM up 2.37% at $222.93 and optical component supplier AAOI up 3.88% at $204.27 showing strength. Persistent demand for data-center memory and renewed corporate investment in AI infrastructure underpin the rally, though pockets of profit-taking in megacap software and consumer tech signal ongoing rotation rather than a broad capitulation.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.04%, to 4.55%.
• U.S. Dollar Index fell 0.27% to 99.70.
• WTI crude oil futures fell 1.96% to 89.51 USD/barrel; COMEX gold futures rose 0.05% to 4,365.60 USD/ounce.
03 Key News
1. GSK agreed to acquire Nuvalent for $10.6 billion in cash, expanding its oncology pipeline. The transaction, valuing Nuvalent at roughly $124 per share, represents a 40% premium and accelerates GSK’s strategic pivot toward targeted cancer therapies while delivering an immediate exit for Nuvalent shareholders. Nuvalent shares jumped 39%.
2. Applied Digital secured a 15-year “Delta Forge 2” hosting lease expected to generate about $5.2 billion in revenue. The long-term contract enhances earnings visibility for the data-center operator and underscores sustained demand for high-performance computing capacity tied to artificial-intelligence workloads. Applied Digital up 11%.
3. Nikkei reported the Bank of Japan plans to lift its policy rate to 1% at an upcoming meeting, signalling tighter monetary policy. A move toward positive rates would mark the BOJ’s most significant shift in decades, potentially influencing global bond markets and foreign-exchange flows as investors recalibrate yield differentials.
4. Westpac-Melbourne Institute survey showed Australian consumer sentiment fell 2.9%, hitting one of its lowest levels in fifty years. Higher borrowing costs and elevated fuel prices weighed on household finances, raising concerns about discretionary demand in Australia’s economy.
5. National Australia Bank’s monthly survey indicated business conditions steadied but confidence remained deeply negative at –14. Persistently high cost pressures and softer capacity utilisation signal ongoing margin stress, informing expectations of cautious corporate spending.
6. Tencent launched a dual-currency bond deal aiming to raise about $3 billion, its first U.S.-dollar issuance since 2021. Proceeds will fund refinancing and general corporate purposes, and the mix of 10- and 20-year dollar notes with 10- and 30-year offshore-yuan tranches diversifies the tech giant’s funding base.
7. Alphabet announced plans to raise up to $85 billion in equity to finance its expanding AI infrastructure build-out. The offering adds to more than $150 billion in tech-sector bond issuance this year, highlighting voracious capital needs for data-center expansion.
8. SK Hynix and NVIDIA entered a multiyear partnership to co-develop next-generation high-bandwidth memory for AI systems. The collaboration secures component supply for NVIDIA while reinforcing SK Hynix’s leadership in premium DRAM, intensifying competition with Micron and Samsung.
9. Over 200 U.S. firms urged Senate leaders to advance the “Digital Asset Market Clarity Act” toward a floor vote. The industry-backed legislation aims to set a federal framework for cryptocurrencies, and its passage could reduce regulatory uncertainty for digital-asset businesses.
10. S&P Dow Jones Indices confirmed Marvell Technology and Flex will join the S&P 500 in the upcoming quarterly rebalance. Inclusion typically attracts passive fund inflows, enhancing liquidity and reducing capital-costs for the newly added constituents, while smaller members such as Campbell Soup and Pool will exit the benchmark.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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