US Market Preview | XOS Up 221.1%; MRVL Adds Another 10% Pre-Market; GME Jumps 10% on Record Q1; Tech Giant Excecs Cash-Out
Xos, Inc. XOS | 0.00 | |
Wellchange WCT | 0.00 | |
Semilux SELX | 0.00 | |
Sadot Group SDOT | 0.00 | |
MultiSensor AI MSAI | 0.00 |
Most Important News
- Geopolitical Tensions: US-Iran strikes escalate conflict.
- SpaceX Bets: Polymarket sees US$2 trillion IPO.
- GameStop Rally: Record Q1 income boosts stock.
U.S. stock futures were little changed Wednesday after all three major indexes closed at fresh records during the regular session.
As of 03:25 PM Riyadh Time, the index futures gains and losses are shown in the table below:
Late Tuesday, the Kuwait army said in a social media post that air defense systems were “intercepting hostile targets.” U.S. Central Command later said
As of 03:25 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") |
221.1% | 7.16 | Xos, Inc.(XOS.US) |
101.1% | 1.85 | 🌙 Wellchange Holdings Company Limited Class A(WCT.US) |
79.8% | 0.51 | 🌙 Semilux International Ltd.(SELX.US) |
58.5% | 5.2 | Sadot Group Inc.(SDOT.US) |
46.6% | 7.99 | 🌙 MultiSensor AI Holdings, Inc.(MSAI.US) |
38.5% | 1.26 | J-Star Holding Co., Ltd. Class A(YMAT.US) |
Largest IPO in History Entering Countdown
Space Exploration Technologies(SPCX.US) is set to debut on Nasdaq under ticker SPCX on June 12, targeting /share, aiming to raise 75 billion at a 1.75 trillion valuation. As the IPO date approaches, the space sector and IPO themes continue to heat up, with the market closely watching this historic event.
US-Iran Strikes Rattle Markets
Stock futures fell after US-Iran launched fresh strikes, threatening a fragile ceasefire.
AI Lab Anthropic Files For Another Grand IPO
Anthropic files to go public with potential US$1T valuation, competing with OpenAI and SpaceX while testing investor appetite to support cash-burning AI development.
Warsh Vows Fed Reform
New Federal Reserve Chair Warsh pledged to uphold tradition while pursuing a comprehensive reform agenda, aiming to mend past relationships and realign the institution with its mission.
Bitcoin Slumps To 4-Month Low
Bitcoin dropped to its lowest since February as investors shifted cash from crypto to equities.
"Hindenburg Omen" Triggered on both NYSE, NASDAQ
The Hindenburg Omen, a classic technical indicator measuring internal market divergence, triggered simultaneously on both the NYSE and NASDAQ. This signal previously appeared before the 1987 crash, the 2000 dot-com bust, and the 2008 financial crisis, raising alarms about potential systemic risk.
DeepSeek Eyes US$7.4B Funding
Chinese AI startup DeepSeek is raising US$~7.4B at up to US$59B valuation, with Tencent and CATL as key backers.
US-Iran Conflict Shifts Oil Markets Higher
Market doubts persist on peace talks as US and Iran clashes raise crude prices for third day.
Burry Warns Chip Rally Mirrors Dot-Com Peak
Michael Burry warns the Semiconductor ETF rally mirrors the dot-com peak, predicting an inevitable correction.
AI Chips Dominate as Market Breadth Weakens
Capital flows concentrated heavily in AI semiconductors and infrastructure (Marvell Technology, Inc.(MRVL.US) / Hewlett Packard Enterprise Co.(HPE.US) / NVIDIA Corporation(NVDA.US) / Coherent Corp.(COHR.US) / Lumentum Holdings, Inc.(LITE.US) ), while traditional sectors like software, retail, and financials underperformed or declined. Such extreme concentration has historically appeared near bull market peaks, with investors needing to watch for systemic pullback risk if the AI theme falters.
Tesla China EV Sales Jump 40%
Tesla Motors, Inc.(TSLA.US) saw its China-made EV sales surge nearly 40% in May, outpacing the country's broader market amid an initial demand recovery.
Tech Giant Excecs Cash Out
- Microsoft Corporation(MSFT.US) Commercial CEO Judson Althoff sold 15,500 shares at US$460.99 on June 1, reducing his direct stake to 110,477 shares.
- Micron Technology, Inc.(MU.US) CEO Sanjay Mehrotra sold 2,561 shares on May 29 for ~US$973.75–US$979.37, leaving him with 384,503 direct shares.
- Advanced Micro Devices, Inc.(AMD.US) Director Nora Denzel sold 10,447 shares at US$522 apiece, lowering her holding to 87,173 shares.
- Palantir(PLTR.US) director Lauren Friedman Stat sold 3,265 shares at US$150-$160 apiece, leaving her with 55,022 shares.
IBM Soars 30% In A Week
Donald Trump's viral clip praising IBM Corp(IBM.US) CEO fueled the stock's biggest weekly gain in years.
LASE Soars On Defense Deal
Laser Photonics Corp.(LASE.US) jumped after-hours to US$2.96 after its anti-drone system was selected by the US Department of War.
XOS Stock Surges 221% After-Hours
Xos, Inc.(XOS.US) launched its 2.5MWh Power Hub energy storage system after market close Tuesday, surging 221% in after-hours trading to US$7.16.
GameStop Rallies Beating EPS Estimates
GameStop Corp. Class A(GME.US) jumped postmarket after record Q1 operating income, 14% revenue growth, and a new US$2B buyback plan beat EPS estimates.
Macy's Beats On EPS Revenues
Macy's, Inc.(M.US) non-GAAP EPS of US$0.13 beat by US$0.10, with revenue of US$4.68B exceeding estimates by US$70M. Read in detail>>
Palo Alto Networks Beat Estimates
Palo Alto Networks, Inc.(PANW.US) posted Non-GAAP EPS of US$0.85, beating by US$0.05, with US$3B revenue exceeding estimates by US$60M.
| Wednesday June 03 2026 | Event | Previous | Consensus | Forecast |
|---|---|---|---|---|
| 02:00 PM | MBA 30-Year Mortgage Rate MAY/29 | 6.65% | ||
| 03:15 PM | ADP Employment Change MAY | 105K ® | 117K | 75.0K |
| 04:00 PM | Fed Barr Speech | |||
| 05:00 PM | ISM Services PMI MAY | 53.6 | 53.8 | 53 |
| 05:00 PM | Factory Orders MoM APR | 1.5% | 4.6% | 2.7% |
| 05:30 PM | EIA Crude Oil Stocks Change MAY/29 | -3.327M | -4M | |
| 05:30 PM | EIA Gasoline Stocks Change MAY/29 | -2.572M | -0.5M | |
| 06:00 PM | Fed Goolsbee Speech | |||
| 11:00 PM | Fed Logan Speech |