US Market Preview | STI Soars 208.9%; SpaceX IPO Prices at $135, Shocks Wall Street; AVGO Drops 15% on Mixed Q2; CRWD Down 10% on Guidance Miss
SpaceX SPCX | 0.00 | |
Quantinuum Inc. Class A QNT | 0.00 | |
Broadcom Limited AVGO | 0.00 | |
CrowdStrike CRWD | 0.00 | |
VanEck Vectors Semiconductor ETF SMH | 0.00 |
Most Important News
- Broadcom Miss Drags Down Semiconductor Sector
- Fed Beige Book Notes Rising Inflation Risks
- Quantinuum Prices IPO at $60, Raising $1.7B
S&P 500 futures fell Thursday as traders dumped chip stocks following an underwhelming report from Broadcom, while they also monitored the latest developments in the Middle East.
As of 03:30 PM Riyadh Time, the index futures gains and losses are shown in the table below:
Shares of Broadcom Limited(AVGO.US) traded 13% lower after the chipmaker reported a fiscal second-quarter revenue miss. Cybersecurity stock CrowdStrike(CRWD.US) also fell 10% after giving lackluster second-quarter revenue guidance.
Semiconductor names, which led the latest leg higher in the market’s rally to record levels, fell broadly. The VanEck Vectors Semiconductor ETF(SMH.US) lost more than 3% before the bell. Arm Holdings(ARM.US) , Micron Technology, Inc.(MU.US) and Marvell Technology(MRVL.US) were also down around 6% each.
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As of 03:25 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") |
208.9% | 15.57 | 🌙 Solidion Technology(STI.US) |
73.0% | 0.28 | CXApp Inc. Class A(CXAI.US) |
70.5% | 2.25 | Vivakor, Inc.(VIVK.US) |
52.1% | 0.37 | Splash Beverage Group, Inc.(SBEV.US) |
46.7% | 3.83 | 🌙 Everbright Digital Holding Ltd.(EDHL.US) |
Trump Eyes Iran Deal This Weekend
US President Trump said negotiations with Iran are progressing well and a deal could be reached by the end of this week.
Jensen Huang Heads To Korea
NVIDIA Corporation(NVDA.US) CEO Jensen Huang to meet South Korean business leaders for dinner Friday, aiming to boost AI & robotics cooperation. He will meet Krafton executives in Seoul this week, reported sources on Thursday.
New SEC Rules Empower Small Traders
US SEC lowered day trading barrier for accounts under US$25,000, benefitting few profitable traders (5%).
Fed: Jobs Stable, Inflation Rises
US employment remained generally stable while inflation continued to rise in many regions due to energy prices driven up by Middle East wars, per the Fed's Beige Book.
SpaceX IPO Shocks Wall Street
SpaceX(SPCX.US) priced its IPO at US$135 per share, breaking Wall Street norms with Elon Musk's record fundraising efforts.
Space ETFs surpassed US$5 billion in assets for the first time, doubling since January, fueled by anticipation of the SpaceX IPO.
Broadcom Plunges 15% on AI Chip Revenue Forecast Miss
Broadcom Limited(AVGO.US) shares tumbled 15% pre-market after the company forecast Q3 AI semiconductor revenue of $16 billion, missing analyst estimates of $17.2 billion. CEO Hock Tan guided full-year AI chip sales to $56 billion, also below the $57.6 billion consensus. The disappointing outlook triggered a sharp sell-off in the stock, despite Broadcom's prior AI growth momentum.
Quantinuum Prices IPO at $60, Raising $1.7B, Trading Debut Thursday
Quantinuum Inc. Class A(QNT.US) , the quantum computing spin-out from Honeywell, has priced its upsized IPO at $60 per share — above the raised $53–$55 range — raising $1.7 billion through 28 million shares. The strong pricing signals intense investor interest in "next-generation computing," with some drawing parallels to early-stage AI. Shares begin trading Thursday on Nasdaq under ticker "QNT." The IPO soared after the initial $45–$50 range.
Senator sells up to US$500K Nvidia
Sen. Sheldon Whitehouse sold US$200K-$500K of NVIDIA Corporation(NVDA.US) on May 8, 2026, after earning over 3,300% returns from 2018 buys.
Cathie Wood Sells AMD, Buys Alphabet
Ark Invest sold ~US$40.6M of Advanced Micro Devices, Inc.(AMD.US) shares and bought ~US$95.6M of Alphabet Inc. Class A(GOOGL.US) stock on Wednesday
Lucid faces securities fraud lawsuit
Rosen Law Firm announces class action suit for Lucid(LCID.US) from Feb 25 to Apr 13, 2026 over supplier quality issues affecting Gravity deliveries.
CrowdStrike Beats Q1, Announces Stock Split
CrowdStrike(CRWD.US) beat Q1 estimates and announced a 4-for-1 stock split.
C3.ai CEO Slams Sales, Guides Low
C3.ai Inc(AI.US) Q4 revenue was US$51.6M. CEO Tom Siebel called sales execution "unspeakably horrible" and guided FY27 revenue to US$210M-$240M. The company cut headcount by 35% to save US$135M annually.
| Thursday June 04 2026 | Event | Previous | Consensus | Forecast |
|---|---|---|---|---|
| 03:30 PM | Fed Barkin Speech | |||
| 03:30 PM | Initial Jobless Claims MAY/30 | 215K | 213K | 216.0K |
| 08:10 PM | Fed Daly Speech |