| Good morning. | The Fast Five → GameStop set to jump as 'Roaring Kitty' reveals $180M position, Nvidia announces next-Gen AI Platform for 2026, Key engines of consumer spending are losing steam all at once, penny stock trading boom prompts warnings of frothy markets, and homebuyers are starting to revolt over steep prices… | | | Calendar: (all times ET) | TUE, 6/4: | Job openings, 10:00a | WED, 6/5: | US trade deficit, 8:30a | THU, 6/6: | Initial jobless claims, 8:30a | FRI, 6/7: | Unemployment rate, 8:30a |
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| | Your 5-minute briefing for Monday, June 3: | | BEFORE THE OPEN |  | As of market close 5/31/2024. Bitcoin as of 6/2/2024. |
| Pre-Market: | | |
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| US Investor % Bullish Sentiment:
39.04% for Wk of May 30 2024 (Last week: 47.04%). |
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| | | Market Recap: | Stock futures rise: Dow +0.3%, S&P +0.3%, Nasdaq +0.4%. Strong May: Nasdaq up 6.9%, best since Nov 2023. Rally lost steam: all indexes 1%+ below record highs. Dow added 500+ points Friday; Nasdaq fell 1.1% last week. Growth stocks, interest rates in focus ahead of Fed meeting. Key economic updates: manufacturing data today, jobs report Friday.
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| | | What we're watching this week: | Tuesday: Bath & Body Works (BBWI), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Stick Fix (SFIX) Wednesday: Campbell Soup (CPB), ChargePoint (CHPT), Dollar Tree (DLTR), Five Below (FIVE), Victoria's Secret (VSCO) Thursday: Big Lots (BIG), DocuSugn (DOCU), Nio (NIO)
| Full earnings calendar here. |
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| | | |  | CEO Jensen Huang reveals plans for annual upgrade cycle. Company details plans for Blackwell Ultra and subsequent chips. |
| |  | Shares trading at the high end of range allowed by Robinhood. Closely-followed Reddit handle allegedly posts new positions. |
| Fed's favored inflation gauge cools, spending unexpectedly drops (more) Key engines of consumer spending are losing steam all at once (more) Boom in penny stock trading prompts warnings of frothy markets (more) Homebuyers are starting to revolt over steep prices across US (more) Asia shares rally on promise of rate relief, factory pick up (more) Markets in India react after polls suggest a resounding victory for Modi (more) Saudi Aramco's $12B stock offer sells out in hours (more) Oil falls as US reports surprise fuel build, weak demand (more) OPEC+ extends deep oil production cuts into 2025 (more) US faces a China conundrum in chip licensing restrictions (more) Nvidia set to overtake Apple as world's second-most valuable company (more) Chinese spacecraft makes historic landing on far side of moon (more) Tesla shareholder sues Musk for alleged $7.5B insider trading (more) Bezos sells Amazon stock to bankroll nonprofit preschools (more) VCs are selling shares of hot AI companies like Anthropic and xAI to small investors in a wild SPV market (more)
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| | News for humans, by humans. | Today's news. Edited to be unbiased as humanly possible. Every morning, we triple-check headlines, stories, and sources for bias. All by hand with no algorithms.
| Sign up now! | | | | M+A | Investments | Paramount's special committee agrees to recommend Skydance deal (more) Chobani billionaire acquires shuttered Anchor Steam Brewery (more) Ackman's Pershing Square raising $1 billion, eyeing IPO (more) OneWater in talks to buy rival boat dealer MarineMax (more) Virrtue, a finance and accounting BPO company, acquired Virgate, a tech-driven accounting services company (more) Applexus Technologies, a tech company providing SAP consulting, analytics, and business services, acquired Absoft, an SAP implementation and managed services company (more) ACA acquires UMB Distribution Services (more) PE-backed Flow acquires Dynamic Air Solutions (more) insightsoftware, provider of comprehensive solutions for finance, accounting, and operations teams, acquires Fiplana, a financial planning and analysis software solution (more) KKR buys majority ownership in Agiloft (more) Mavenir, a cloud-native network infrastructure provider, raised up to $75M in investment (more) Swift Anchor invests in Essential Turbines (more) Balance Point invests in Firehook Bakery (more) Satori Capital invests in Automatic Fire Protection (more)
| VC | Babylon, a company aiming to build a Bitcoin-secured decentralized world, raised $70M in funding (more) Denim, a tech factoring partner for freight brokers, raised $63M in Warehouse Facility (more) Valar Labs, a developer of computational histology AI tests for predicting cancer therapies, raised $22M in Series A funding (more) Forward, a tech partner empowering SaaS companies to integrate and monetize payments, raised $16M in Seed funding (more) RealReviews.io, provider of an AI-powered review platform, raised an undisclosed amount in funding (more) CinRx Pharma, a hub-and-spoke biotech company, raised additional $73M in funding (more)
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| | | President Biden vetoes crypto custody bill (more) The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing (more) Hong Kong says 11 crypto exchanges are closer to getting permits (more)
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| | | | | | | | | DAILY SHARE |  | Autism Capital 🧩 @AutismCapital |  |
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🚨 RoaringKitty, aka The GameStop guy, has $115M of GME shares and $65M of call options expiring June 21st. He's all in. Wow. |  | | | Jun 3, 2024 | | | | | | 913 Likes 73 Retweets 49 Replies |
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| |  | Elon Musk @elonmusk | |
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|  | | | Jun 3, 2024 | | | | | | 25.8K Likes 1.82K Retweets 1.54K Replies |
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|  | Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA | |
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Yeah I support LGBT Lassi
Gulab Jamun
Biryani
Tandoori chicken | | | Jun 1, 2024 | | | | | | 6.73K Likes 614 Retweets 133 Replies |
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| What did you think about today's briefing? | |
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