TOP MARKETS NEWS: Week 05/27 – 06/02

Weekend 06/01 & 06/02

Oil alliance OPEC+ extends collective crude production cuts into 2025 – CNBC


Friday 05/31

Business Live – guardian

Monster month-end rally sees stocks close green – Newsquawk Market Wrap
Rate-Cut Hopes Resurrected As ‘Hard’ Data Slides: Stocks, Gold, Oil, & Crypto Dumped – Zerohedge
Dow closes more than 570 points higher to post best day in 2024, stocks wrap a winning May – CNBC
Dell Shares Plunge After ‘AI Server Backlog Missed Expectations’ – Zerohedge
Chicago PMI Unexpectedly Craters To Depression Levels – Zerohedge

Core PCE Grows At Slowest Pace In Three Years After Lowest Monthly Increase Of 2024 – Zerohedge
Futures Dip On Disappointing Tech Results As Markets Brush Off Trump Verdict – Zerohedge
Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut – cnbc
European stocks choppy as euro zone inflation ticks up; JD Sports down 7.1% – cnbc

Asia markets rise on data-heavy day – cnbc
Japan Confirms It Spent A Record $62 Billion In Failed Attempt To Prop Up Yen – Zerohedge
Tokyo Inflation Picks Up, Keeping BOJ on Track for Rate Hike – bbg
Largest ETF Outflows in Over a Year a Warning For China’s Stock Rally – bbg
China Ramps Up Warning on Bond Frenzy – bbg
China Factories Slip Back Into Contraction, Hurting Growth Hopes – bbg

Asian Stocks Eye Early Gain as US Momentum Slows: Markets Wrap – bbg



Thursday 05/30

Business Live – guardian

Stocks making the biggest moves after hours: Dell Technologies, MongoDB, Zscaler, Gap and more – cnbc
Dell Beats First-Quarter Revenue Estimates as AI Boom Bolster Server Demand – Reuters
Dell’s $3.8 Billion AI Server Backlog Fails to Impress Investors – bbg
Dell shares fall despite growing AI server business – cnbc
HP Reports Sales That Top Estimates on First PC Boost Since 2022 – bbg
Gap shares pop 20% as earnings beat on sales growth at all four brands – cnbc
Costco Beats Quarterly Revenue Estimates on Strong Grocery Demand – Reuters
Stock slide continues despite bond relief rally ahead of PCE – Newsquawk US Market Wrap
Nasdaq Falls 1%; Salesforce Shares Weigh on Tech – Reuters
Bad Macro, Worse Micro, But Biden Batters Big Caps As Bitcoin, Bonds & Bullion Rip – Zerohedge
Stocks close lower, Dow falls more than 300 points as Salesforce plunges 20% – cnbc
Summit Shares Soar After Lung Cancer Drug Tops Keytruda in Study – bbg
Foreigners Pull Money Out of EM Portfolios After Five Months of Inflows – Reuters
Moderna Shares Rise On Report US Gov’t Preparing Funding For mRNA Bird Flu Vax – Zerohedge
Nvidia Dumps On Reports Of US Gov’t Restricting AI Chip Sales To Middle East – Zerohedge
US Is Reining In AI Chip Sales to Middle East by Nvidia, AMD – bbg
Stocks making the biggest moves midday: Salesforce, Kohl’s, HP, Best Buy and more – cnbc
European Stocks Bounce Off Three-Week Low as Bond Yields Retreat – bbg
US Pending Home Sales Plunged To Record Lows In April As Rates Rose – Zerohedge

Consumers Curb US Economic Growth in First Quarter, Inflation Cools – Reuters
Q1 GDP Revised Lower To Just 1.3%, Lowest In Two Years As Consumption Slows – Zerohedge
Initial Jobless Claims Rise Near 8-Month Highs, But… – Zerohedge
Foot Locker’s turnaround is showing signs of life, CEO sees consumers willing to pay full price – cnbc
Best Buy Sees Laptop Upgrades Driving Demand Recovery; Tops Q1 Profit Estimates – Reuters
‘Kohllapse’: Retailer Routed As Consumer Turnaround Stalls – Zerohedge
Kohl’s Set for Worst Day Ever on Surprise Quarterly Loss, Annual Forecast Cut – Reuters
Kohl’s Plunges as Results Miss Estimates on Lingering Weakness – bbg
Dollar General Says Consumer Spending to Be Pressured Through 2024 – Reuters
Futures, Rates Drop As Salesforce Implosion Sours Mood – Zerohedge
Goldman Sachs Says Buy European Pharma Stocks Touting Innovation – bbg
Euro-Zone Economic Confidence Grows as Recovery Strengthens – bbg
Spanish Inflation Accelerates for Third Month as Energy Aid Ends – bbg
US Banks Have a Commercial Property Blind Spot Risk, Study Warns – bbg
Two Fund Managers Beat 95% of Their Rivals by Betting on Britain – bbg
Europe stocks set for another lower open as global sentiment sours ahead of inflation data – cnbc

Japan’s Nikkei leads losses in Asia ahead of data deluge on Friday – cnbc
Toyota’s global volumes fall in April, led by drops in China and Japan – Reuters
China’s Property, Tech Stocks Are Falling to Bearish Milestones – bbg
Goldman Sees India’s Stocks, Bonds and Rupee as Top Emerging Market Picks – bbg

Asian Stocks to Follow US Lower as Yields Climb: Markets Wrap – bbg


Wednesday 05/29

Stocks making the biggest moves after hours: Salesforce, UiPath, Capri, Pure Storage and more – cnbc
HP Reports Sales That Top Estimates on First PC Boost Since 2022 – bbg
Salesforce gives weak sales outlook with slowdown fears growing – bbg
Salesforce shares plunge 17% on first revenue miss since 2006 – cnbc
Treasury yields rise to month highs, weighing on stocks ahead of key data – Newsquawk US Market Wrap
Wall Street Ends Lower Amid Rate Concerns, Higher Bond Yields – Reuters
Bond Yields Soar As Rate-Cut Hopes Plunge; Stocks, Oil, & Gold All Sold – Zerohedge
S&P 500 posts first losing day in 3 as Nvidia’s climb fails to lift market, Dow drops 400 points – cnbc
AST SpaceMobile shares surge on US$100M Verizon deal – BBG
Arm Offers New Designs, Software for AI on Smartphones – Reuters
Nelson Peltz sells entire Disney stake weeks after losing proxy battle – cnbc
Ugly Beige Book: “Negligible Job Gains”, “Lower Discretionary Spending”, “More Pessimistic Outlook” – Zerohedge
Fed’s Beige Book Points to Modest Growth in US Economy, Prices – bbg
Stocks making the biggest moves midday: Abercrombie & Fitch, UnitedHealth, Netflix and more – cnbc
Insurers Sink as UnitedHealth Sees ‘Disturbance’ In Medicaid – bbg
American Airlines Shares Plummet After Slashing Optimistic Guidance Issued Last Month – Zerohedge
Yields Spike To Session High After Subpar 7Y Auction – Zerohedge
European Stocks Slip as German Data Lifts Bond Yields Further – bbg
Crypto exchange Gemini returns $2.2 billion to users after pausing withdrawals 18 months ago – cnbc
ConocoPhillips to buy Marathon Oil in $17 billion all-stock deal that bolsters shale assets – cnbc
‘Worst Since The Great Recession’ – Dallas Fed Services Survey Slumps In May As Respondents Fear “Inflation Is Getting Pretty Scary” – Zerohedge
BlackRock Adds Own Bitcoin ETF To Income And Bond Funds – Zerohedge

Abercrombie soars as return of ‘90s fashion boosts outlook – bbg
BHP Abandons $49 Billion Bid After Anglo Refuses More Talks – bbg
Futures Slide As Bond Yields Spike To 3 Week High – Zerohedge
German Inflation Higher Than Expected Ahead of ECB Rates Decision – Reuters

China’s Silver Imports Set to Jump as Solar Demand Lifts Prices – bbg
Europe stocks set to extend losses after worst session for a month – cnbc

Asia markets mostly lower after investors assess Australia inflation data – cnbc
Goldman Says Buy China Stock Dip After Rally Stalls – Zerohedge
IMF upgrades China’s growth forecast to 5% on ‘strong’ first quarter and policy measures – cnbc
FX Daily: Australian inflation weighs on risk assets – ing

Asian Stocks to Trend Lower After Treasuries Drop: Markets Wrap – bbg
Yen Nears Record Low Versus Euro on Carry, Interest Rate Outlook – bbg


Tuesday 05/28

Business Live – guardian

Stocks making the biggest moves after hours: American Airlines, Robinhood, Box and more – cnbc
Nasdaq Exceeds 17,000 on Boost From Nvidia; Inflation Data Awaited – Reuters
NVDA Sucks All The Oxygen Out Of The Market Again.. – Zerohedge
Nasdaq closes above 17,000 for the first time, Dow slides more than 200 points – cnbc
AI Darling Nvidia’s Market Value Surges Closer to Apple – Reuters
Ugly 5Y Auction Sends Yields To 2 Week High – Zerohedge
Stocks making the biggest moves midday: GameStop, U.S. Cellular, Nvidia, Norwegian Cruise Line and more – cnbc
SUVs Keep Oil Demand Ticking, Add 20% to Energy Emissions Growth – bbg
Elliott Takes $2.5 Billion Aim at Texas Instruments’ Cash Flow – bbg
Activist Elliott takes $2.5 billion stake in Texas Instruments, urges company to improve free cash flow – cnbc
Volkswagen to Develop Low-Cost Electric Car to Tackle Chinese Rivals – Reuters
European Stocks Retreat as Flutter Drags; Eyes on Inflation Data – bbg
Conference Board Consumer Confidence Rebounds In May… As Inflation Expectations Hit 2024 Highs – Zerohedge
US Consumer Confidence Recovers; Inflation Worries Persist – Reuters
US Consumer Confidence Rises for First Time in Four Months – bbg
Mt. Gox Moves $9.6 Billion Worth Of Bitcoin – Are Creditors Finally Being Repaid? – Zerohedge
Home-Price Growth in Key US Cities Accelerates, Squeezing Buyers – bbg
US Home Prices Reached New Record High In March, Despite Soaring Rates – Zerohedge
UBS Lifts S&P 500’s Year-End Target to Street High of 5,600 – Reuters

Futures Rise On Apple China Sales Rebound As Attention Turns Back To Inflation – Zerohedge
JPMorgan recommends defensive, commodity stocks ahead of rate cuts – INVESTING
GERMAN Wholesale prices in April 2024: -1.8% on April 2023 – DESTATIS
Can Europe put itself on the right footing for a war economy? – EURONEWS
Key Events This Holiday-Shortened Week: PCE, GDP And More Fed Speakers – Zerohedge
Wheat Jumps to Nine-Month High on Fears of Shrinking Stockpile – bbg
Euro Zone Consumers Lower Inflation Expectation, ECB Survey Shows – Reuters
Apple iPhone Shipments In China Rebound 52%, Market Share Loss To Huawei May Be Stabilizing – Zerohedge
Factbox-As US Moves Towards Faster Stock Settlement, Where Are Other Countries? – Reuters
Wall Street Ushers in New Era of Faster Trade Settlement – Reuters
Wall Street Returns to T+1 Stock Trading After a Century – bbg
Bitcoin Retreats as Traders Mull Risk of Sales Linked to Mt. Gox – bbg
European markets set to open mixed as UK’s FTSE reopens – cnbc

Morning Bid: Inflation Expectations – Reuters

Asia markets mixed after ECB officials hint at rate cut, Australia retail sales rise – cnbc
BYD Unveils New Hybrid Tech as Battle With Gasoline Rivals Heats Up – Reuters
Shanghai Cuts Home Downpayment as Easing Spreads to Big Cities – bbg
Jump in Japan’s Business Service Prices Supports BOJ Hike Case – bbg
China Chipmakers Are Catching Up Fast in AI, SenseTime’s Xu Says – bbg
Temu’s Parent PDD Trades Near Cheapest Level Ever as Geopolitical Risks Bite – bbg

China Stocks Eye Gains; Traders Await CPI Reports: Markets Wrap – bbg

Monday 05/27

European Stocks Tread Water in Light Trading as UK, US Closed – bbg

The time is ripe to cut interest rates next week, European Central Bank’s Rehn says – cnbc
History shows how a UK election can impact the country’s stock market – cnbc
European stocks tick higher; UK and U.S. markets closed – cnbc

Asia markets gain at the start of data-heavy week as China industrial profits rise – cnbc
China Industrial Profits Rise as Overseas Demand Improves – bbg

Asian Stocks to Climb as Risk Sentiment Rebounds: Markets Wrap – bbg
Week Ahead Preview: Fed Beige Book; Eurozone and Tokyo CPI; U.S. PCE Core Inflation; South Africa Election; Central Bankers Speeches – CB