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In Pre-Market Trading on Tuesday, the three major US index futures turned lower.
"Non-Farm Payroll" US ADP employment figures for May show an increase of 0.037 million people, the smallest increase since March 2023, with an expected increase of 0.11 million people and a previous value of 0.062 million people. The hiring pace in the US in May reached its lowest level since March 2023.
ADP Chief Economist Nela Richardson: After a strong start to the year, hiring is losing momentum. However, the wage growth in May showed little change, with both those staying in their jobs and those changing jobs remaining at strong levels. Investors are awaiting more data on the labor market, including the US May services PMI data released on Wednesday and the non-farm payroll report on Friday.
After the release of the US May ADP employment data, President Trump stated that Powell must now cut interest rates. He also remarked, "It's incredible that Europe has cut rates nine times already."
Most popular Chinese concept stocks rose in Pre-Market Trading. $Pony AI (PONY.US)$Increased by over 2%, $XPeng (XPEV.US)$up nearly 2%, $Taiwan Semiconductor (TSM.US)$、 $Alibaba (BABA.US)$ rose over 1%.
Cybersecurity giant.$CrowdStrike (CRWD.US)$Pre-Market Trading down nearly 7%, with the company's second-quarter revenue forecast lower than market expectations.
$CrowdStrike (CRWD.US)$ On June 3rd, Eastern Time, Q1 results were announced after the market, with revenue reaching 1.1 billion USD, in line with Analyst expectations, and a year-on-year growth of nearly 20%. However, a net loss of 0.1102 billion USD was reported, with an EPS of 44 cents, compared to a net income of 42.8 million USD and an EPS of 17 cents in the same period last year. The adjusted EPS was 73 cents, exceeding the market average forecast of 65 cents. As of the time of writing, Pre-Market Trading was down nearly 7%.
Recently listed AI cloud computing company.$CoreWeave (CRWV.US)$In Pre-Market Trading, it rose over 5% again, setting a new high in stock price.
AI cloud computing company.$CoreWeave (CRWV.US)$In Pre-Market Trading, it rose over 5% again, with an overnight increase of over 25%, and a new high in stock price at 150.48 USD. The company's stock has skyrocketed 248% since its IPO, and the latest leasing agreement with Applied Digital further solidifies its presence in 33 AI data centers across the United States and Europe.
$STMicroelectronics (STM.US)$Pre-market trading rose over 7%, as Italy and France consider splitting their joint management rights.
STMicroelectronics rose over 7% in Pre-Market Trading. According to Italy's Evening Post, Italy and France are considering splitting their joint management rights over STMicroelectronics, a process that could take several years, currently still only preliminary and exploratory ideas.
$SharpLink Gaming (SBET.US)$Pre-Market Trading soared by 17% after previously announcing the completion of a Private Placement.
Cryptos concept stocks.$SharpLink Gaming (SBET.US)$In Pre-Market Trading, the surge has continued, currently rising 17%. The company fell over 9% yesterday after hitting a peak. In terms of news, the company announced that it has completed a Private Placement led by Consensys Software Inc. for $0.425 billion.Private Placementbecoming the world's largest publicly listed company that Holds Ethereum.
$Hewlett Packard Enterprise (HPE.US)$Pre-Market Trading increased by over 7%, Q2 performance exceeded expectations, and the shadow of tariffs is expected to weaken.
Hewlett Packard Enterprise's second quarter revenue and performance exceeded expectations, and it was stated that the impact of tariffs on its business is expected to lessen this year. The Texas-based company stated in a release that second quarter sales increased by 6% year-on-year to $7.63 billion, higher than analysts' average expectation of $7.46 billion, with adjusted EPS of 38 cents, exceeding analysts' average expectation of 33 cents.
CEO Antonio Neri stated in an interview that the impact of tariffs on the company's profits is expected to be milder, with the annual adjusted profit negatively impacted by tariffs estimated at 4 cents per share, down from the previous expectation of 7 cents. The company also raised its annual earnings guidance, expecting EPS of $1.78-$1.90 (the previous lower guidance was $1.70), higher than the market expectation of $1.80.
Surpassing Microsoft, NVIDIA's Market Cap returns to the top globally.
After the close of the US stock market on Tuesday, $NVIDIA (NVDA.US)$With a market cap of 3.446 trillion dollars, it surpasses Microsoft's 3.441 trillion dollars, reclaiming the title of the highest market cap public company in the world.
NVIDIA is not new to sitting atop the list of the highest market cap public companies. Since June of last year, NVIDIA has been alternating the top spot in market cap rankings with Apple and Microsoft. The last time NVIDIA was the highest market cap company was on January 24.
In recent years, the AI boom has driven NVIDIA's revenue skyrocketing, with the company's GPUs being at the core of the rise of global data centers and generative AI. Data shows that NVIDIA's stock price has surged nearly 1500% over the past five years, with a rise of 22% over the past 12 months.
$Trump Media & Technology (DJT.US)$Plans to launch an ETF linked to Bitcoin, the NYSE has submitted regulatory documents for listing.
The NYSE's NYSE Arca platform submitted a listing application on Tuesday for a listing of an ETF linked to.$Trump Media & Technology (DJT.US)$Bitcoin ETF related to the social platform Truth Social. If this application is approved, the ETF will join more than 60 currently existing Bitcoin-related ETFs in the United States.
Although this ETF is directly named after Truth Social, the document does not mention Trump or provide the stock code or fees for the new fund. However, compared to other ETFs, this particular ETF may especially benefit from its "special relationship" with President Trump—especially considering Trump has been advocating for Bitcoin-friendly legislation and has mentioned establishing a national cryptocurrency reserve.
The Kuwait Investment Authority (KIA) joins the $Microsoft (MSFT.US)$AI infrastructure investment alliance supported by
Kuwait's sovereign wealth fund, the Kuwait Investment Authority (KIA), has joined the AI infrastructure investment alliance supported by Microsoft, becoming the first major funding partner (non-founder financial anchor) in the alliance.
The full name of the project is 'Global AI Infrastructure Investment Partnership', a fund led by $Microsoft (MSFT.US)$ The fund led by Blackrock, launched in September 2024, aims to invest in artificial intelligence infrastructure, strengthening the AI supply chain and energy acquisition. The project seeks to raise $30 billion in funding through private equity and plans to leverage potential investments of up to $100 billion in the future.
Global Macro
Trump officially increases the steel and aluminum tariffs to 50%.
Starting from 00:01 on June 4, 2025, Eastern Time, Trump announced that the tariffs on imported steel and aluminum and their derivatives will officially increase from 25% to 50%.
Starting from July 9, 2025, the U.S. may adjust applicable tariff rates according to the terms of the Environmental Policy Statement and establish import quotas for steel and aluminum. The tariffs on steel and aluminum imported from the United Kingdom will remain at 25%, but if the UK is found to be in violation of the relevant provisions of the Environmental Policy Statement, the applicable tariff rate may be raised to 50%.
The largest ever! The U.S. Treasury's latest single bond repurchase reaches $10 billion.
At 2 PM Eastern Time on Tuesday, the U.S. Treasury announced the results of its latest bond repurchase operation. Although this operation itself is not unusual—the U.S. Treasury has been conducting such operations nearly every week since April 2024—the scale has reached an unprecedented level: up to $10 billion, marking the largest single bond repurchase operation in the history of the U.S. Treasury.
The U.S. Treasury initiated its first regular U.S. bond repurchase program since 2000-2002 in May last year, aimed at enhancing the liquidity of older bonds with lower trading activity. To date, similar operations have lasted for more than a year.
Historically, the Federal Reserve has usually been the main player in the U.S. Treasury bond market, conducting large-scale bond purchases in the secondary market as part of QE and other loose monetary policy operations. Many market participants have likened this bond repurchase action by the U.S. Treasury to 'light QE', as it essentially monetizes bonds in the open market, injecting funds into the market, similar to the Fed’s Permanent Open Market Operations (POMO), akin to stock buybacks.
The U.S. Bureau of Labor Statistics announced that this Friday, on "Non-Farm Day," it will revise the employment data for April, involving adjustments to approximately 9,400 categories, with core indicators like the unemployment rate and labor participation rate remaining unchanged.
The U.S. Bureau of Labor Statistics (BLS) announced on Tuesday that it will correct the "minor errors" in the April data when releasing the May non-farm employment data on Friday, emphasizing that this revision will not affect key indicators such as the unemployment rate.
The Bureau of Labor Statistics stated in a release: "Due to slight errors involving weights when introducing the redesigned Current Population Survey (CPS) sample, certain estimated values from April 2025 will be revised on June 6, 2025. Key labor market indicators, such as the unemployment rate, labor participation rate, and employment-to-population ratio, have not been affected. Although many data points will be revised, the impact is minimal."
The Federal Reserve had over $1 trillion in unrealized losses on its assets last year.
According to a report released by the New York Federal Reserve on Tuesday, the assets held by the Federal Reserve showed over $1.06 trillion in unrealized losses in 2024, slightly higher than the $948.4 billion loss in 2023. The report noted that the losses are primarily due to the "broad rise in market interest rates across the yield curve," although the Federal Reserve's reduction in bond holdings partially mitigated this impact.
The report specifically noted that these book losses reflect the difference between the book value of the securities held and their market price. Since the Federal Reserve adopts a Hold to maturity strategy, these unrealized losses neither affect monetary policy operations nor pose a substantial issue. The report anticipates that this unrealized loss situation may persist for several years.
Top 20 transactions in Pre-Market Trading.
Macro calendar reminders for the USA stock market.
21:45 US May S&P Global Services PMI final value.
22:00 US May ISM Non-Manufacturing PMI.
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