Market Updates
New York TUESDAY
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 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 $10
Annual Returns
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Earnings
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