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• ADP added 152,000 jobs in the United States in May, the lowest in three months, and April data was significantly revised down.

The ADP employment report, also known as the 'Little Non-Farm' report, showed that the number of jobs in the United States increased by 152,000 in May, the lowest level in three months, significantly lower than the expected 175,000 and down from 192,000 in April. The labor market cooled further, which is expected to boost the Federal Reserve's confidence in rate cuts. Some analysts believe that if employment reports continue to surprise, this may make rate cuts possible again in September or even July.

• ISM services index for May in the United States was 53.8, pulling out of contraction and hitting a nine-month high, with business activity soaring.

The ISM services index for May was 53.8 in the United States, much better than the expected 51 and the previous value of 49.4 in April. The ISM services index jumped 4.4 points in a single month, the biggest monthly rise since early last year. The business activity index soared 10.3 points, the largest monthly increase since March 2021. The price index fell slightly but remained at a high level.

• Reuters survey: Most respondents expect the Fed to cut rates in September, and inflation will remain high.

A Reuters survey shows that 74 of 116 economists predict that the Fed will cut rates 25 basis points for the first time in September, with only five expecting a cut in July, down from 11 in May's survey; no one predicts a cut in June. Sixty-eight of the 116 respondents predict that there will be two rate cuts this year, roughly the same as last month's survey. Inflation (especially the PCE price index) has been high, coupled with extremely low unemployment, making it unlikely to cut rates ahead of schedule. The median forecast shows that inflation indicators such as CPI, core CPI, PCE and core PCE are not expected to reach 2% until at least 2026. The unemployment rate will remain tightly around its current 3.9% level until at least 2027, indicating that the labor market will remain tight.

• Goldman Sachs expects a huge influx of funds into US stocks in Q3.

Scott Rubner, Managing Director of Global Markets at Goldman Sachs, predicts that a huge influx of funds from passive stock allocations will enter the US stock market in the third quarter of this year, driving the current rally to continue into early summer. Rubner also mentioned strong seasonal trends from retail investors. Historically, the first 15 days of July are the best two weeks for stock market performance of the year, and the rebound after July 17th will fade.

• G7 countries have started lowering interest rates: Canada's central bank has cut interest rates as scheduled to 4.75%, and the governor hinted that it will continue to be accommodative.

The Bank of Canada cut interest rates by 25 basis points to 4.75%, in line with expectations. The Bank of Canada's governor hinted that further rate cuts are expected if inflation eases. The bank explained that since there is evidence that underlying inflation is easing, it believes that monetary policy no longer needs to be so restrictive. After the Bank of Canada cut interest rates as scheduled, the US dollar against the Canadian dollar jumped about 40 points in the short term, and the Canadian stock and bond markets rose together.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• The Nasdaq and S&P 500 indexes hit historic highs, with Nvidia up more than 5% and market capitalization surpassing Apple.

The three major US stock indexes closed up, with the Nasdaq up 1.96%, the S&P 500 index up 1.18%, and the Dow up 0.25%. The Nasdaq and S&P 500 indexes both hit historic highs.

Nvidia surged over 5%, hitting a historic high for three consecutive trading days, with a total market cap of over $3 trillion, surpassing Apple, and cumulative gains of over 147% this year; Meta rose over 3%, Intel and Netflix rose over 2%, and Microsoft and Amazon rose more than 1%;

Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index up 1.60%. Netease rose more than 6%, Tencent Music rose more than 4%, Xpeng rose more than 3%, and Bilibili and Baidu rose more than 2%.

• Nvidia's market value surpasses $3 trillion and surpasses Apple, and Wall Street believes it can rise another 22%

$NVIDIA (NVDA.US)$Stocks rose more than 5% to hit a historic high, driving market capitalization past the $3 trillion mark for the first time, making it the third company to have a market cap of $3 trillion after Apple and Microsoft. On Sunday, the company announced plans for a new chip to maintain its competitive advantage. On Monday, Bank of America analysts again raised the stock's target price to the highest on Wall Street at $1,500, up 22.5% from Wednesday's closing price.

• Going crazy! TSMC squeezes ASML for lower prices and wants to hike prices for Nvidia, and its US stock hits a historic high.

ASML has announced that it will deliver its latest high-numerical-aperture extreme ultraviolet (EUV) this year.$Taiwan Semiconductor (TSM.US)$However, TSMC said that the price of the new machine was too high and that the latest process could still rely on old EUV versions. At the same time, TSMC's new chairman, Wei Zhejia, hinted that he was considering raising the price of the company's artificial intelligence chip foundry services and said he had discussed the issue with Nvidia CEO Huang Renxun. At the close, TSMC rose 7% and its stock price hit a historic high.

• ASML US stocks soared more than 9%, becoming the second largest listed company in Europe.

On Wednesday, Eastern Time,$ASML Holding (ASML.US)$The US stock market soared by 9.52%, with a market capitalization of over $410 billion, surpassing France's LVMH to become the second largest publicly traded company in Europe, second only to Denmark's Novo Nordisk. On the news front, an ASML spokesperson confirmed that its largest customer, Taiwan Semiconductor, will receive its most advanced High-NA EUV lithography machine at the end of this year. It is understood that the price of this lithography machine is as high as 350 million euros, and the company has already delivered the first machine to Intel's Oregon factory in December last year.

• Ming-Chi Kuo: Apple's mixed reality headsets, Vision Pro, were shipped to non-US markets later than expected.

According to a survey of shipments of the Vision Pro mixed reality headset by the company, sales have already started in non-US markets before mid-June, including the UK, France, Germany, China, Japan, and Singapore (later than previously predicted at WWDC 2024, the Global Developer Conference). Current global shipment estimates for 2024 remain unchanged, with 400,000 to 450,000 units expected to be sold.$Apple (AAPL.US)$Please use your Futubull account to access the feature.

• Buffett and his heavily invested stock, Occidental Petroleum, have jointly established a company to increase their lithium investments using Occidental's Direct Lithium Extraction (DLE) technology to commercially produce high-purity lithium compounds, with both traditional and new energy sources advancing simultaneously.

Under Buffett, the $Berkshire Hathaway-A (BRK.A.US)$announced that it has formed a joint venture with its major stock holding, $Occidental Petroleum (OXY.US)$to use Occidental Petroleum's patented Direct Lithium Extraction (DLE) technology to commercially produce high-purity lithium compounds, with both traditional and new energy sources advancing simultaneously.

• Lululemon rose nearly 10% in after-hours trading, raising its annual profit guidance and increasing its share buyback plan. The company's first-quarter net revenue was $2.21 billion, with analysts expecting $2.2 billion; earnings per share for the first quarter were $2.54, with analysts expecting $2.39. The company is expected to have second-quarter net revenue of $2.4 billion to $2.42 billion, with analysts expecting $2.46 billion; expected second-quarter earnings per share of $2.92 to $2.97, with analysts expecting $3.04; expected full-year net revenue of $10.7 billion to $10.8 billion, with analysts expecting $10.76 billion, and expected full-year earnings per share of $14.27 to $14.47 per share, up from a previous estimate of $14.00 to $14.20 per share; and raised its share buyback plan by $1 billion.

$Lululemon Athletica (LULU.US)$On Wednesday, Northbound funds bought a net $7.737 billion of Hong Kong stocks. They respectively bought a net $1.136 billion, $937 million and $562 million; and respectively sold a net $347 million, $110 million and $67.23 million.

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BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Keywords: Initial jobless claims, US trade account in April, number of employees dismissed by Challenger companies

On Thursday, economic data will include the number of employees dismissed by US Challenger companies in May, initial jobless claims through June 1, US trade accounts in April, and EIA natural gas inventories through May 31.

$TENCENT (00700.HK)$, $CHINA MOBILE (00941.HK)$, $BANK OF CHINA (03988.HK)$Regarding the net purchase of Hong Kong stocks, they respectively purchased a net $1.136 billion, $937 million and $562 million; and respectively sold a net $3.47 million, $110 million and $67.23 million.

$PETROCHINA (00857.HK)$, $ICBC (01398.HK)$, $CCB (00939.HK)$Net sales of HKD 347 million, HKD 110 million, and HKD 67.23 million respectively.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

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In 2023, the company's overall sales volume of 18,000 kiloliters, +28.10% year-on-year, significant growth. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.

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On the heavy financial report side,$MEITUAN-W (03690.HK)$, $NIO Inc (NIO.US)$Financial reports will be released.

Futubull Morning News:

On June 5 (Wednesday), Northbound funds bought a net HKD 1.1 billion in Tencent stock and HKD 900 million in China Mobile stock.

ECB President Lagarde will hold a monetary policy press conference.

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