Market Update
U.S. Movers: GitLab, Macy's, Palo Alto Network, Victoria's Secret, Ulta Beauty
Scott Peters
03 Jun, 2026
New York City
Palo Alto Networks decreased 3.4% to $287.0, and the cybersecurity company posted strong financial results in the fiscal third quarter.
Revenue increased 31% to $3.0 billion from $2.3 billion, net income swung to a loss of $177 million from $262 million, and diluted earnings per share were a loss of 22 cents compared to 37 cents a year ago.
The company revised higher its revenue guidance for the current quarter and for the fiscal year.
The company lifted its fiscal second quarter revenue range to between $3.345 billion and $3.355 billion, representing an increase of 32% from a year ago, and diluted earnings per share to fall between 96 cents and 98 cents.
For the fiscal year 2026, the company estimated revenue to range between $11.415 billion and $11.425 billion, representing an increase of 24% from a year ago, and adjusted diluted earnings per share to range between $3.77 and $3.79.
GitLab dropped 3% to $30.87 after the company announced its plan to reduce its full-time workforce by 14%, or about 36 staff, and exit 22 countries.
The company estimated a pre-tax charge between $30 million and $35 million for its restructuring plan.
Total revenue in the fiscal first quarter ending in April rose 23% to $264.2 million from $214.5 million, net loss attributable to shareholders shrank to $5 million from $35.9 million, and diluted loss per share decreased to 3 cents from 22 cents a year ago.
The company guided fiscal second quarter revenue to range between $272 million and $274 million, and fiscal 2027 revenue to range between $1.112 million and $118 million.
The software platform developer estimated adjusted earnings per share in the fiscal second quarter to range between 17 and 18 cents and fiscal 2027 to range between 79 cents and 82 cents.
Ulta Beauty increased 1% to $500.26 after the company posted its quarterly results and revised higher its full-year earnings estimate.
Revenue in the fiscal first quarter ending on May 2 increased 11.1% to $3.2 billion from $2.9 billion, net income soared 11.4% to $340.5 million from $305.1 million, and diluted earnings per share advanced 15% to $7.74 from $6.70 a year ago.
Net sales increased in the quarter, primarily due to increased comparable sales, the acquisition of Space NK, and sales from new stores.
Comparable sales rose 5.3%, driven by a 3.7% increase in average ticket and a 1.6% increase in transactions.
The company reiterated its fiscal year net sales to increase between 6% and 7%, comparable store sales to rise between 2.5% and 3.5%, and capital expenditures between $400 million and $450 million.
The cosmetic retailer lifted its annual diluted earnings per share range to between $28.36 and $28.80 from the previous range between $28.05 and $28.55.
Victoria's Secret soared 47% to $80.06 after posting strong quarterly results and lifting its annual sales outlook.
Revenue in the fiscal first quarter ending on May 2 rose 15% to $1.6 billion from $1.4 billion, net income attributable to shareholders swung to $47.7 million from a loss of $1.7 million, and diluted earnings per share increased to a profit of 56 cents from a loss of 2 cents a year ago.
The company raised its net sales forecast for the fiscal second quarter to between $1.59 billion and $1.62 billion, compared to $1.46 billion in the quarter a year ago.
The specialty retailer of intimate apparel raised its fiscal full-year 2026 revenue estimate to between $7.03 billion and $7.13 billion, an increase compared to the previous estimated range between $6.85 billion and $6.95 billion and compared to $6.56 billion in fiscal 2025.
U.S. Movers: GitLab, Macy's, Palo Alto Network, Victoria's Secret, Ulta Beauty
Scott Peters
03 Jun, 2026
New York City
Palo Alto Networks decreased 3.4% to $287.0, and the cybersecurity company posted strong financial results in the fiscal third quarter.
Revenue increased 31% to $3.0 billion from $2.3 billion, net income swung to a loss of $177 million from $262 million, and diluted earnings per share were a loss of 22 cents compared to 37 cents a year ago.
The company revised higher its revenue guidance for the current quarter and for the fiscal year.
The company lifted its fiscal second quarter revenue range to between $3.345 billion and $3.355 billion, representing an increase of 32% from a year ago, and diluted earnings per share to fall between 96 cents and 98 cents.
For the fiscal year 2026, the company estimated revenue to range between $11.415 billion and $11.425 billion, representing an increase of 24% from a year ago, and adjusted diluted earnings per share to range between $3.77 and $3.79.
GitLab dropped 3% to $30.87 after the company announced its plan to reduce its full-time workforce by 14%, or about 36 staff, and exit 22 countries.
The company estimated a pre-tax charge between $30 million and $35 million for its restructuring plan.
Total revenue in the fiscal first quarter ending in April rose 23% to $264.2 million from $214.5 million, net loss attributable to shareholders shrank to $5 million from $35.9 million, and diluted loss per share decreased to 3 cents from 22 cents a year ago.
The company guided fiscal second quarter revenue to range between $272 million and $274 million, and fiscal 2027 revenue to range between $1.112 million and $118 million.
The software platform developer estimated adjusted earnings per share in the fiscal second quarter to range between 17 and 18 cents and fiscal 2027 to range between 79 cents and 82 cents.
Ulta Beauty increased 1% to $500.26 after the company posted its quarterly results and revised higher its full-year earnings estimate.
Revenue in the fiscal first quarter ending on May 2 increased 11.1% to $3.2 billion from $2.9 billion, net income soared 11.4% to $340.5 million from $305.1 million, and diluted earnings per share advanced 15% to $7.74 from $6.70 a year ago.
Net sales increased in the quarter, primarily due to increased comparable sales, the acquisition of Space NK, and sales from new stores.
Comparable sales rose 5.3%, driven by a 3.7% increase in average ticket and a 1.6% increase in transactions.
The company reiterated its fiscal year net sales to increase between 6% and 7%, comparable store sales to rise between 2.5% and 3.5%, and capital expenditures between $400 million and $450 million.
The cosmetic retailer lifted its annual diluted earnings per share range to between $28.36 and $28.80 from the previous range between $28.05 and $28.55.
Victoria's Secret soared 47% to $80.06 after posting strong quarterly results and lifting its annual sales outlook.
Revenue in the fiscal first quarter ending on May 2 rose 15% to $1.6 billion from $1.4 billion, net income attributable to shareholders swung to $47.7 million from a loss of $1.7 million, and diluted earnings per share increased to a profit of 56 cents from a loss of 2 cents a year ago.
The company raised its net sales forecast for the fiscal second quarter to between $1.59 billion and $1.62 billion, compared to $1.46 billion in the quarter a year ago.
The specialty retailer of intimate apparel raised its fiscal full-year 2026 revenue estimate to between $7.03 billion and $7.13 billion, an increase compared to the previous estimated range between $6.85 billion and $6.95 billion and compared to $6.56 billion in fiscal 2025.
AI Investment Cycle Optimism Powers U.S. Rally to Tenth Week
Barry Adams
03 Jun, 2026
New York City
Stocks in New York lacked direction in early trading, and major averages hit fresh record highs amid optimism over the AI investment cycle.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite edged down 0.03% as investors continued to overlook escalating tensions in the Middle East.
The S&P 500 index extended gains for the tenth week in a row as investors poured fresh capital into the AI ecosystem-linked stocks.
Broad market averages also extended gains as investors reacted to positive earnings and stayed optimistic about the prospects for AI infrastructure investing and technologies.
Crude oil prices rose for the third consecutive week amid reports that Kuwait faced new air attacks from Iran, as the embattled nations conducted retaliatory strikes following Israel's attack targeting locations in Southern Lebanon.
The prospect of resumption of normal commercial shipping through the Strait of Hormuz remained dim after the U.S., Iran, and Israel ramped up air strikes in the region.
West Texas crude oil prices rose 2.7% to $96.30 a barrel, and prices advanced for the third session in a row amid worries of tightening supply conditions.
U.S. Movers
Palo Alto Networks decreased 3.4% to $287.0, and the cybersecurity company posted strong financial results in the fiscal third quarter.
The company revised higher its revenue guidance for the current quarter and for the fiscal year.
GitLab dropped 3% to $30.87 after the company announced its plan to reduce its full-time workforce by 14%, or about 36 staff, and exit 22 countries.
The company estimated a pre-tax charge between $30 million and $35 million for its restructuring plan.
The software platform developer estimated adjusted earnings in the current quarter to range between 17 and 18 cents per share.
Ulta Beauty increased 1% to $500.26 after the company posted its quarterly results and revised higher its full-year earnings estimate.
Victoria's Secret soared 47% to $80.06 after posting strong quarterly results and lifting its annual sales outlook.
Macy's increased 3.4% to $22.41 after the department store operator reported better-than-expected fiscal first-quarter results and revised higher its annual sales outlook.
The retailer posted adjusted earnings per share of 13 cents on revenue of $4.68 billion and raised its full-year sales to fall between $21.50 and $21.75 billion.
Macy's revised its full-year earnings per share range to between $2.0 and $2.20 from the previous range between $1.90 and $2.10.
AI Investment Cycle Optimism Powers U.S. Rally to Tenth Week
Barry Adams
03 Jun, 2026
New York City
Stocks in New York lacked direction in early trading, and major averages hit fresh record highs amid optimism over the AI investment cycle.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite edged down 0.03% as investors continued to overlook escalating tensions in the Middle East.
The S&P 500 index extended gains for the tenth week in a row as investors poured fresh capital into the AI ecosystem-linked stocks.
Broad market averages also extended gains as investors reacted to positive earnings and stayed optimistic about the prospects for AI infrastructure investing and technologies.
Crude oil prices rose for the third consecutive week amid reports that Kuwait faced new air attacks from Iran, as the embattled nations conducted retaliatory strikes following Israel's attack targeting locations in Southern Lebanon.
The prospect of resumption of normal commercial shipping through the Strait of Hormuz remained dim after the U.S., Iran, and Israel ramped up air strikes in the region.
West Texas crude oil prices rose 2.7% to $96.30 a barrel, and prices advanced for the third session in a row amid worries of tightening supply conditions.
U.S. Movers
Palo Alto Networks decreased 3.4% to $287.0, and the cybersecurity company posted strong financial results in the fiscal third quarter.
The company revised higher its revenue guidance for the current quarter and for the fiscal year.
GitLab dropped 3% to $30.87 after the company announced its plan to reduce its full-time workforce by 14%, or about 36 staff, and exit 22 countries.
The company estimated a pre-tax charge between $30 million and $35 million for its restructuring plan.
The software platform developer estimated adjusted earnings in the current quarter to range between 17 and 18 cents per share.
Ulta Beauty increased 1% to $500.26 after the company posted its quarterly results and revised higher its full-year earnings estimate.
Victoria's Secret soared 47% to $80.06 after posting strong quarterly results and lifting its annual sales outlook.
Japan's Benchmark Indexes Extended Record-High Streak June
Akira Ito
03 Jun, 2026
Tokyo
Japan's indexes rose sharply on Wednesday and extended their gains as investor enthusiasm for the artificial intelligence-related ecosystem continued to support the market.
The Nikkei 225 Stock Average increased nearly 3%, the broader TOPIX advanced more than 2%, and the yen weakened to 159.93 against the U.S. dollar.
Japanese semiconductor equipment and electronic component makers are deemed to be key beneficiaries of the global AI infrastructure investment.
Japanese companies provide key advanced chemicals, optical, electrical, and electronic components, and advanced cooling technologies for the AI-driven data centers.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 2.9% to 68,682.36, and the broader TOPIX advanced 2.1% to 4,006.54.
Semiconductor equipment makers extended a nine-week rally in Tokyo's trading.
Tokyo Electron rose 13.6%, Advantest Corp. gained 5.6%, Lasertec Corp. jumped 8.3%, Screen Holdings soared 19%, Disco Corp. increased 4%, and Fujikura Ltd. jumped 11%.
Japan's Benchmark Indexes Extended RecordHigh Streak June
Akira Ito
03 Jun, 2026
Tokyo
Japan's indexes rose sharply on Wednesday and extended their gains as investor enthusiasm for the artificial intelligence-related ecosystem continued to support the market.
The Nikkei 225 Stock Average increased nearly 3%, the broader TOPIX advanced more than 2%, and the yen weakened to 159.93 against the U.S. dollar.
Japanese semiconductor equipment and electronic component makers are deemed to be key beneficiaries of the global AI infrastructure investment.
Japanese companies provide key advanced chemicals, optical, electrical, and electronic components, and advanced cooling technologies for the AI-driven data centers.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 2.9% to 68,682.36, and the broader TOPIX advanced 2.1% to 4,006.54.
Semiconductor equipment makers extended a nine-week rally in Tokyo's trading.
Tokyo Electron rose 13.6%, Advantest Corp. gained 5.6%, Lasertec Corp. jumped 8.3%, Screen Holdings soared 19%, Disco Corp. increased 4%, and Fujikura Ltd. jumped 11%.
China's Semiconductor Stocks Moved Higher Despite Broader Market Weakness
Li Chen
03 Jun, 2026
Hong Kong
China's benchmark indexes moved in opposite directions as investors reviewed mixed business activity reports.
The Hang Seng Index decreased 1.7%, and the mainland-focused CSI 300 Index advanced 1.6% after growth in service sector activity rose to a three-month high in May.
Ratings Dog China General Services PMI advanced to 54.4 in May from 52.6 in the previous month, as compiled by S&P Global.
The service sector rose at the strongest pace since February as new orders rose at the fastest pace in three months. However, growth in export orders rose at a slower pace than domestic demand.
Input price inflation accelerated to the highest level since October 2024, driven in large parts by higher fuel prices and rising wage costs. However, output price inflation broadly remained unchanged.
China Indexes and Stocks
The Hang Seng Index decreased 1.7% to 25,599.98, and the mainland-focused CSI 300 Index advanced 1.6% to 4,990.50.
Semiconductor- and AI-linked companies rebounded from morning doldrums amid rising skepticism about valuation and sustainability of the elevated levels of artificial intelligence infrastructure build-out.
SMIC soared 4%, Hua Hong Semiconductor advanced 6%, Eoptolink Technology jumped 8%, Zhongji Innolight surged 10.3%, and Foxconn Industrial Internet increased 5.6%.
China's Semiconductor Stocks Moved Higher Despite Broader Market Weakness
Li Chen
03 Jun, 2026
Hong Kong
China's benchmark indexes moved in opposite directions as investors reviewed mixed business activity reports.
The Hang Seng Index decreased 1.7%, and the mainland-focused CSI 300 Index advanced 1.6% after growth in service sector activity rose to a three-month high in May.
Ratings Dog China General Services PMI advanced to 54.4 in May from 52.6 in the previous month, as compiled by S&P Global.
The service sector rose at the strongest pace since February as new orders rose at the fastest pace in three months. However, growth in export orders rose at a slower pace than domestic demand.
Input price inflation accelerated to the highest level since October 2024, driven in large parts by higher fuel prices and rising wage costs. However, output price inflation broadly remained unchanged.
China Indexes and Stocks
The Hang Seng Index decreased 1.7% to 25,599.98, and the mainland-focused CSI 300 Index advanced 1.6% to 4,990.50.
Semiconductor- and AI-linked companies rebounded from morning doldrums amid rising skepticism about valuation and sustainability of the elevated levels of artificial intelligence infrastructure build-out.
SMIC soared 4%, Hua Hong Semiconductor advanced 6%, Eoptolink Technology jumped 8%, Zhongji Innolight surged 10.3%, and Foxconn Industrial Internet increased 5.6%.
S&P 500 Notched 22 Record Closes So Far In 2026 Driven by Massive Surge In AI Stocks
Barry Adams
02 Jun, 2026
New York City
Wall Street indexes edged lower from record highs reached in the previous session.
The S&P 500 Index decreased 0.2%, and the tech-heavy Nasdaq Composite declined 0.1% amid enthusiasm over artificial intelligence trade.
The widely followed market averages hit record highs on Monday, and enthusiasm over AI trade continued to power the market rally in the tenth week.
Investors remained cautious as diplomats struggled to secure a U.S.-Iran peace agreement, and leaders of the U.S. and Israel sent contradictory signals.
The fragile ceasefire in the Middle East is increasingly looking tenuous, prolonging the reopening of the Strait of Hormuz for commercial shipping.
The broader geopolitical outlook remains uncertain as the conflict in the Middle East enters its fourth month.
U.S. Movers
Alphabet Inc. decreased 2.7% to $362.59, and the parent company of Google announced its plans to raise $80 billion through a secondary stock offering to fund its AI-powered data centers.
Marvell Technology soared 23% to $269.0 after Nvidia CEO Jensen Huang speculated that the semiconductor company could become the next trillion-dollar company.
Hewlett Packard Enterprise soared 27% to $59.60 after the company released its financial results for the fiscal second quarter ending in April.
Revenue increased to $10.7 billion from $7.6 billion, net income advanced to $595 million from a loss of $1.1 billion, and diluted earnings per share swung to a profit of 44 cents from a loss of 82 cents.
The company estimated fiscal third-quarter revenue to range between $11.5 billion and $12.1 billion and diluted earnings per share to fall between 84 cents and 89 cents and adjusted earnings per share between 88 cents and 93 cents.
For the fiscal year, the company revised its revenue growth range to between 29% and 33%, its diluted earnings per share range between $2.42 and $2.52, and adjusted earnings between $3.35 and $3.43.
Microchip Technology soared 9.3% to $100.0, and the company reported 2025 revenue for its data center solutions business unit of $302.7 million and estimated an increase of 65% to $500 million in 2026.
S&P 500 Notched 22 Record Closes So Far In 2026 Driven by Massive Surge In AI Stocks
Barry Adams
02 Jun, 2026
New York City
Wall Street indexes edged lower from record highs reached in the previous session.
The S&P 500 Index decreased 0.2%, and the tech-heavy Nasdaq Composite declined 0.1% amid enthusiasm over artificial intelligence trade.
The widely followed market averages hit record highs on Monday, and enthusiasm over AI trade continued to power the market rally in the tenth week.
Investors remained cautious as diplomats struggled to secure a U.S.-Iran peace agreement, and leaders of the U.S. and Israel sent contradictory signals.
The fragile ceasefire in the Middle East is increasingly looking tenuous, prolonging the reopening of the Strait of Hormuz for commercial shipping.
The broader geopolitical outlook remains uncertain as the conflict in the Middle East enters its fourth month.
U.S. Movers
Alphabet Inc. decreased 2.7% to $362.59, and the parent company of Google announced its plans to raise $80 billion through a secondary stock offering to fund its AI-powered data centers.
Marvell Technology soared 23% to $269.0 after Nvidia CEO Jensen Huang speculated that the semiconductor company could become the next trillion-dollar company.
Hewlett Packard Enterprise soared 27% to $59.60 after the company released its financial results for the fiscal second quarter ending in April.
Revenue increased to $10.7 billion from $7.6 billion, net income advanced to $595 million from a loss of $1.1 billion, and diluted earnings per share swung to a profit of 44 cents from a loss of 82 cents.
The company estimated fiscal third-quarter revenue to range between $11.5 billion and $12.1 billion and diluted earnings per share to fall between 84 cents and 89 cents and adjusted earnings per share between 88 cents and 93 cents.
For the fiscal year, the company revised its revenue growth range to between 29% and 33%, its diluted earnings per share range between $2.42 and $2.52, and adjusted earnings between $3.35 and $3.43.
Microchip Technology soared 9.3% to $100.0, and the company reported 2025 revenue for its data center solutions business unit of $302.7 million and estimated an increase of 65% to $500 million in 2026.
Japan's Indexes Dropped 1% Amid Uncertainty Over Strait of Hormuz Reopening
Akira Ito
02 Jun, 2026
Tokyo
Japan's benchmark eased from record highs as Japanese equities pulled back amid ongoing geopolitical uncertainty.
The Nikkei 225 Stock Average decreased 1.4%, and the TOPIX declined 1.2%, and the yen traded around 159.71 against the U.S. dollar.
Japan's investors are increasingly factoring a rate hike in the near future as inflationary pressures linked to the Middle East conflict continue to build.
The U.S.-Iran peace process stalled, and Israel stepped up its attacks targeting locations in Southern Lebanon.
Moreover, under the dual blockade of the U.S. and Iran, commercial shipments through the Strait of Hormuz remained disrupted for the third consecutive month.
Japan Indexes and Stocks
The Nikkei 225 stock average fell 1.4% to 65,987.95, and the TOPIX decreased 1.2% to 3,893.90.
Artificial intelligence linked stocks remained in favor, as investors estimated sustained investment in AI infrastructure. However, the uncertain geopolitical outlook weighed on the market sentiment.
Fujikura Ltd. decreased 3.5%, Furukawa Electric fell 2.2%, Nidec Corp. dropped 3%, and Taiyo Yuden eased 2.5%.
SoftBank Group declined 0.7% to ¥8,484.0 after the diversified conglomerate's portfolio company Arm Holding struck a deal with HP and IBM to launch a new PC chip.
Japan's Indexes Dropped 1% Amid Uncertainty Over Strait of Hormuz Reopening
Akira Ito
02 Jun, 2026
Tokyo
Japan's benchmark eased from record highs as Japanese equities pulled back amid ongoing geopolitical uncertainty.
The Nikkei 225 Stock Average decreased 1.4%, and the TOPIX declined 1.2%, and the yen traded around 159.71 against the U.S. dollar.
Japan's investors are increasingly factoring a rate hike in the near future as inflationary pressures linked to the Middle East conflict continue to build.
The U.S.-Iran peace process stalled, and Israel stepped up its attacks targeting locations in Southern Lebanon.
Moreover, under the dual blockade of the U.S. and Iran, commercial shipments through the Strait of Hormuz remained disrupted for the third consecutive month.
Japan Indexes and Stocks
The Nikkei 225 stock average fell 1.4% to 65,987.95, and the TOPIX decreased 1.2% to 3,893.90.
Artificial intelligence linked stocks remained in favor, as investors estimated sustained investment in AI infrastructure. However, the uncertain geopolitical outlook weighed on the market sentiment.
Fujikura Ltd. decreased 3.5%, Furukawa Electric fell 2.2%, Nidec Corp. dropped 3%, and Taiyo Yuden eased 2.5%.
SoftBank Group declined 0.7% to ¥8,484.0 after the diversified conglomerate's portfolio company Arm Holding struck a deal with HP and IBM to launch a new PC chip.
China and Hong Kong Indexes Regained Upward Bias Overlooking Hormuz Tensions
Li Chen
02 Jun, 2026
Hong Kong
China's benchmark indexes rebounded from morning doldrums, driven by the sustained rise in artificial intelligence-linked stocks.
The Hang Seng index increased more than 1%, and the mainland-focused CSI 300 inched higher 0.3% as the stalled U.S.-Iran peace process weighed on the market sentiment.
Investors remained cautious as diplomats struggled to secure a U.S.-Iran peace agreement, and leaders of the U.S. and Israel sent contradictory signals.
The fragile ceasefire in the Middle East is increasingly looking tenuous, prolonging the reopening of the Strait of Hormuz for commercial shipping.
The broader geopolitical outlook remains uncertain as the conflict in the Middle East enters its fourth month.
China Indexes and Stocks
The Hang Seng Index increased 1.1% to 25,678.49, and the mainland-focused CSI 300 added 0.3% to 4,882.02.
Morning losses turned to profits for semiconductor and electronic component makers as investors returned to increase their exposure to artificial intelligence-linked stocks.
Semiconductor Manufacturing International increased 0.5%, Luxshare Precision Industry advanced 0.8%, Victory Giant Technology gained 2.2%, and Eoptolink Technology soared 9%.
China and Hong Kong Indexes Regained Upward BiaOverlooking Hormuz Tensions
Li Chen
02 Jun, 2026
Hong Kong
China's benchmark indexes rebounded from morning doldrums, driven by the sustained rise in artificial intelligence-linked stocks.
The Hang Seng index increased more than 1%, and the mainland-focused CSI 300 inched higher 0.3% as the stalled U.S.-Iran peace process weighed on the market sentiment.
Investors remained cautious as diplomats struggled to secure a U.S.-Iran peace agreement, and leaders of the U.S. and Israel sent contradictory signals.
The fragile ceasefire in the Middle East is increasingly looking tenuous, prolonging the reopening of the Strait of Hormuz for commercial shipping.
The broader geopolitical outlook remains uncertain as the conflict in the Middle East enters its fourth month.
China Indexes and Stocks
The Hang Seng Index increased 1.1% to 25,678.49, and the mainland-focused CSI 300 added 0.3% to 4,882.02.
Morning losses turned to profits for semiconductor and electronic component makers as investors returned to increase their exposure to artificial intelligence-linked stocks.
Semiconductor Manufacturing International increased 0.5%, Luxshare Precision Industry advanced 0.8%, Victory Giant Technology gained 2.2%, and Eoptolink Technology soared 9%.
U.S. Market Rally Scales New Highs at Start of June
Barry Adams
01 Jun, 2026
New York City
Wall Street indexes edged higher on the first day of June and were set to create new record highs.
The S&P 500 Index edged up 0.4%, and the tech-heavy Nasdaq Composite advanced 0.6%, and tech stocks led gainers on Monday.
The major averages closed at new record highs on Friday after the U.S. and Iran reached a temporary agreement to extend the fragile ceasefire for sixty days.
In May, the S&P 500 index advanced about 5%, and the tech-heavy Nasdaq Composite soared 8%, as tech leaders touched new highs.
World markets extended April's gains in May, as AI- and semiconductor-linked stocks led around the world.
Broader averages in Europe advanced between 3% and 6%; in Japan, they soared 11%, but in Hong Kong, they decreased 3%.
Despite the U.S. conducting airstrikes targeting locations in Iran, hopes of easing Middle East tensions further boosted investor sentiment.
Global commerce showed no sign of easing, and exports from China, Japan, and South Korea continued to advance, driven by the U.S. demand for electrical and electronic products supporting the buildout of AI infrastructure.
Later in the week on Friday, investors are awaiting the release of nonfarm payrolls for May for the latest update on the labor market and the outlook for the Federal Reserve's interest rate policy.
U.S. Movers
Taylor Morrison jumped 22% to $71.50 after the UK-based home builder agreed to be acquired for $8.5 billion by Berkshire Hathaway.
Berkshire agreed to pay $72.50 per share, valuing the home builder's equity at $6.8 billion, a 24% premium to Friday's closing price.
Including the total debts, the enterprise value of the company expanded to $8.5 billion.
After the acquisition, Taylor Morrison is likely to be merged with Berkshire-owned Clayton Homes, and Taylor's chief executive, Sheryl Palmer, is expected to run the combined businesses.