Preview of US Stock Market | Three major stock index futures do not rise or fall in the same way. "Mini Non-Farm Payrolls" hits a 16-month high in May.

Pre-market market trends 1. Before the bell on June 3 (Wednesday), the futures of the three major US stock indexes fluctuated. As of the time of writing, Dow futures fell by 0.36%, S&P 500 futures fell by 0.16%, and Nasdaq futures rose by 0.08%. 2. As of the time of writing, the German DAX index fell by 0.87%, the UK FTSE 100 index fell by 0.25%, the French CAC 40 index fell by 0.38%, and the Euro Stoxx 50 index fell by 0.69%. 3. As of the time of writing, WTI crude oil rose by 2.63% to $96.23 per barrel. Brent crude oil rose by 2.38% to $98.28 per barrel. Market News - ADP added 122,000 jobs in May, reaching a 16-month high. The US private sector job market showed resilience beyond expectations under the shadow of trade disputes. The latest data from ADP, known as "mini non-farm payrolls," showed a record monthly increase in job growth in May, easing concerns about economic slowdown. - Expectations of interest rate hikes reignite, driving the anchor of global asset pricing! The AI super bull market faces a "stress test" again. The price of US Treasury bonds continued to decline, likely marking the largest decline in over two weeks, mainly due to the recent escalation of tensions between the US and Iran pushing up oil prices, intensifying hawkish expectations for the Fed to resume interest rate hikes this year. - Trump says the maritime blockade against Iran may continue until September. President Trump stated in a televised interview that the US maritime blockade against Iran may continue until Labor Day, September 7th this year. Trump mentioned progress in negotiations with Iran but expressed confidence in reaching an agreement and preventing Iran from possessing nuclear weapons. Individual Stock News - Intel Corporation signaled a significant development: CPUs will be the next breakthrough in AI, with the acceleration of the Intel 3/18A process. Intel Corporation's CFO, David Zinsner, revealed at the Bank of America 2026 Global Technology Conference that supply of its advanced semiconductor manufacturing process nodes, Intel 3 and 18A, is accelerating. The demand for CPUs in data centers remains strong, and the CPU market is expected to experience explosive growth driven by AI. - Microsoft Corporation's Build 2026 annual developer conference: Windows heading towards the "era of intelligent beings" betting on the next generation of computing revolution to accelerate independence from OpenAI dependency. Microsoft Corporation's annual developer conference, Build 2026, focused on AI intelligent beings as a core theme this year. Microsoft showcased a clear future vision of Windows evolving from a traditional operating system to a foundation platform for the era of intelligent beings. - Broadcom Inc. secures financing of $36 billion for Anthropic: Core part with interest rate of about 5.75%, far lower than conventional risk debt levels. Thanks to Broadcom Inc.'s commitment to provide guarantees for the largest portion of the record-breaking chip financing deal, Anthropic's $36 billion financing transaction is able to maintain a low financing cost. Discussions are underway regarding the interest rate levels for the $25 billion portion of the debt. - High net worth individuals continue to support US consumer spending! Macy's, Inc. saw growth in all three major brands, raising full-year performance outlook. Macy's, Inc. reported a 1.8% year-over-year increase in net sales to $4.68 billion for the quarter ending on May 2, exceeding market expectations. The net profit increased from $38 million to $63 million, with comparable sales growth of about 3%, showing one of the strongest quarters in four years. Across its brands, Bloomingdale's saw a 10.2% increase in comparable sales, Bluemercury grew by 6.4%, and Macy's main brand grew by 1.6%, indicating a strong performance in luxury, fashion, and beauty sectors. The company raised its full-year net sales outlook to $21.5 billion to $21.75 billion and adjusted earnings per share forecast to $2.00 to $2.20. Upcoming Economic Data and Events - 22:00 Beijing time: US April durable goods orders revision, US April factory orders, US May ISM non-manufacturing PMI. - 22:30 Beijing time: US EIA crude oil inventory change for the week ending May 29. - 02:00 Beijing time the next day: Federal Reserve releases Beige Book on economic conditions. Earnings Forecast Thursday morning: Broadcom Inc. (AVGO.US), CrowdStrike (CRWD.US) Thursday pre-market: Ciena (CIEN.US)