Preview of US Stock Market | The three major stock index futures rise together, chips and space stocks rebound before the market, and the US stock market welcomes a "super high-pressure test week". Iran announced a halt to military action against Israel.

Pre-market market trends 1. Before the market opened on June 8th (Monday), the futures of the three major US stock indices rose. As of the time of writing, the Dow Jones Industrial Average futures rose by 0.30%, the S&P 500 Index futures rose by 0.77%, and the Nasdaq futures rose by 1.42%. 2. As of the time of writing, the DAX index in Germany fell by 0.36%, the FTSE 100 index in the UK rose by 0.17%, the CAC 40 index in France fell by 0.06%, and the Euro Stoxx 50 index rose by 0.07%. 3. As of the time of writing, WTI crude oil rose by 1.13% to $91.56 per barrel. Brent crude oil rose by 1.21% to $94.22 per barrel. Market News US stocks face a "super high-pressure test week": The Middle East conflict resurfaces, SpaceX's century IPO joins the inflation storm. With the market re-pricing fully on Friday betting that the Federal Reserve will raise interest rates this year, investors are entering a new week with heavy hearts. The absolute focus of the market this week will be on Friday - when Musk's SpaceX will officially go public, an IPO that is destined to be the largest in history. After experiencing an unexpectedly strong non-farm payroll report last week, investors will still need to face a new round of densely released core economic data this week. Inflation will be the key focus this week, with US CPI and PPI data for May set to be released on Wednesday and Thursday respectively. In terms of the situation in the Middle East, the latest conflict between Iran and Israel is making it more difficult for the US and Iran to reach an agreement, with inflation expectations likely to remain high. In terms of corporate earnings, Oracle Corporation's fourth quarter earnings report on Wednesday will lead the market this week, serving as another key indicator of the current state of artificial intelligence (AI) and cloud computing. In addition, Adobe's earnings report will also be released on Thursday. Iran announces a halt to military action against Israel. Iranian media reported on June 8th that the Iranian armed forces have announced a cessation of military action against Israel. Earlier, Iran and Israel exchanged attacks on the 7th and 8th. The statement said that Iran has responded sternly to Israel, and Israel should learn from this response. However, if Israel's aggression and crimes in southern Lebanon and other areas continue, Iran will take more severe and destructive measures. Rising inflation expectations deal a blow to rate cut bets! The US bond market prepares for the possibility of the Fed resuming rate hikes. The US bond market has been under pressure recently, with traders generally expecting that upcoming inflation data will show the most significant price increase in consumer prices in years. This assessment is reinforcing market expectations for the Federal Reserve to further tighten its policies. Linked to the US May CPI data to be released on Wednesday, the market is predicting an annual rate of about 4.3%, against a backdrop of energy prices remaining high due to the US-Iran conflict stalemate, this increase may hit a new high since 2023. The prospects for continued ceasefire are still uncertain, which means that energy prices may continue to remain high, further pushing up inflation pressures. At the same time, the US economy has shown strong resilience, which has also weakened expectations for loose policies in the bond market. As of the time of writing, the yield on the 10-year US Treasury bond is 4.54%; the yield on the 2-year US Treasury bond, sensitive to monetary policy, is 4.149%. Much to watch in Powell's "first show," markets closely monitor three major rate hike signals! The US labor market remains strong, and there is no sign of easing inflation. Analysts on Wall Street and in Washington predict that the upcoming Federal Reserve rate-setting meeting, scheduled less than ten days from now, will provide a clear signal - a high probability that the next rate adjustment by the Federal Reserve will be a hike. This meeting will be the first rate-setting meeting chaired by Kevin Powell since he took over as Federal Reserve Chair. Economists generally believe that the June meeting will likely maintain the current interest rate, but the market will focus on three major clues to judge whether the Federal Reserve is paving the way for a rate hike later this year - the removal of dovish language from the policy statement written in the December 2021 statement is expected to be an important way for Powell to demonstrate policy independence; a hawkish tilt in the dot plot and a risk assessment focused on inflation will also be seen as signals paving the way for a rate hike. In addition to interest rate policy, the market is also watching whether Powell will immediately adjust the Fed's external communication mode after taking office. OPEC+ symbolically raises July production quota by 188,000 barrels per day, but the blockade in the Hormuz Strait means increased production "remains only on paper." The seven OPEC+ countries led by Saudi Arabia and Russia issued a statement after a video conference last Sunday, stating that the collective production target will be raised by 188,000 barrels per day next month, continuing the process of restoring oil production that was halted due to oversupply in the market. Although this action is currently only on paper, the reality that Persian Gulf exports are blocked means that most member countries cannot actually implement this production increase plan. The plan may only have a practical effect when this key waterway reopens, and buyers rush to purchase oil to replenish depleted global oil inventories. Individual Stock News US chip stocks rebounded pre-market. Before the market opened on Monday, US chip stocks, which had all plummeted on Friday, collectively rebounded. As of the time of writing, Marvell Technology, Inc. (MRVL.US) rose nearly 9%, Micron Technology, Inc. (MU.US) rose nearly 6%, Broadcom Inc. (AVGO.US), AMD (AMD.US) rose nearly 3%, Intel Corporation (INTC.US), NVIDIA Corporation (NVDA.US) rose over 2%. In addition, ASML Holding NV ADR (ASML.US) rose by over 4%, and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) rose nearly 3%. US commercial space stocks rose pre-market. Before the market opened on Monday, as of the time of writing, Momentus (MNTS.US), Intuitive Machines (LUNR.US) rose nearly 5%, MDA Space (MDA.US) rose by over 4%, Redwire (RDW.US), Rocket Lab (RKLB.US), Voyager Technologies (VOYG.US) rose by over 3%, York Space Systems (YSS.US) rose nearly 3%, Firefly Aerospace (FLY.US), AST SpaceMobile (ASTS.US) rose by over 2%. Apple Inc.'s (AAPL.US) WWDC 2026 preview: Can Siri be "reborn" with a new brain before Cook steps down, and can AI complete redemption? Apple Inc.'s 2026 Worldwide Developers Conference (WWDC) will kick off at 1 a.m. Beijing time on June 9th at the company's headquarters in Cupertino. This event is not only Apple Inc.'s most important software showcase of the year, but also the last public appearance before Chief Executive Cook steps down. Faced with the embarrassment of repeatedly failing in the AI field over the past two years, Apple Inc. urgently needs a "full-throttle" release to prove to Wall Street and consumers that it can still lead the way in generative AI. In addition to the much anticipated updates to the entire operating system lineup, including iOS 27, iPadOS 27, macOS 27, and the completely redesigned Siri, analysts believe that the three key signals to watch for at this year's Apple Inc. Developer Conference include: Can it restart the replacement cycle - if AI capabilities are once again tied to new hardware this year, revenue forecasts for the next two to three years could be upward; Can AI form a new monetization model - if Apple Intelligence and AI Agent can form new platform revenue streams in the future, the market's valuation framework for Apple Inc. may switch again; Can Apple Inc. still establish new moats - Can Apple Inc. prove that it still has the ability to define platform rules in the AI era. NVIDIA Corporation and SK Hynix announce collaboration: Jointly developing next-generation AI memory. NVIDIA Corporation and SK Hynix have announced a multi-year technical partnership to jointly develop the next-generation memory needed for the construction of global AI factories, and will apply AI technology to semiconductor chip design and manufacturing. According to the agreement, SK Hynix will collaborate with NVIDIA Corporation to develop dedicated memory for Vera Rubin AI supercomputers, Vera CPU, RTX Spark PCs, and Jetson ThorSiasun Robot & Automation computing platforms, enabling them to enter new markets such as AI infrastructure, personal AI, and physical AI that NVIDIA Corporation is pioneering. In the semiconductor manufacturing field, SK Hynix will use NVIDIA Corporation's CUDA-X library and PhysicsNeMo framework to accelerate chip simulation and lithography calculations; and build wafer-level digital twins using NVIDIA Corporation's Omniverse and cuOpt to drive factory automation. Nurix (NRIX.US) surges pre-market! Receives a $2.3 billion acquisition offer from Roche for rights related to the blood cancer drug bexobrutideg. Pharmaceutical giant Roche has agreed to pay up to $2.3 billion to the US biopharmaceutical company Nurix to acquire rights related to the experimental blood cancer drug bexobrutideg. bexobrutideg is a new oral Bruton's tyrosine kinase (BTK) degrader developed by Nurix. Roche and Nurix stated that this drug may have advantages over current BTK inhibitors because it is expected to overcome the issue of resistance mutations that patients develop during treatment. This collaboration further demonstrates Roche's strategy to strengthen its oncology drug product portfolio. With several blockbuster drugs gradually entering the mature phase, Roche is seeking new growth avenues. Boosted by this news, Nurix surged over 70% pre-market on Monday and has since narrowed to approximately 11%. First major deal of the new administration: Incyte (INCY.US) plans to acquire Star for $2 billion, betting on the potential blockbuster drug for bleeding disorders. As mid-sized pharmaceutical companies continue to seek acquisitions to strengthen their product lines, Incyte is reportedly set to acquire the private company Star Therapeutics for up to $2 billion. The biotechnology company is expected to pay approximately $12.5 billion in cash upfront, with an additional $7.5 billion tied to future performance milestones. This acquisition will allow Incyte to gain access to Star's leading experimental treatment for von Willebrand disease, the most common inherited bleeding disorder. This therapy, known as VGA039, is in advanced clinical trials and has received fast-track designation from the US Food and Drug Administration. As of the time of writing, Incyte rose over 2% pre-market on Monday. Opening up a new "blue ocean" for weight loss drugs! Eli Lilly (LLY.US) releases new clinical data, Foundayo poised to fill the obesity treatment gap in menopause. Lilly stated that the latest analysis of late-stage clinical trial data shows that its experimental weight loss therapy, Foundayo, can significantly reduce weight in overweight or obese women, regardless of their menopausal transition status (pre-menopausal, perimenopausal, or post-menopausal). Menopause is a biological transition period in which women's reproductive hormone levels decline, leading to changes in metabolism and body composition. Many women gain fat during this period, especially around the abdomen, and find weight loss more difficult. This data may help Lilly to expand its potential market for its obesity product line by proving the drug's effectiveness in a large and often overlooked patient group. As of the time of writing, Lilly rose nearly 2% pre-market on Monday. Important Economic Data and Events Preview 11:00 pm Beijing time US May New York Fed 1-year inflation expectations Earnings Forecast Tuesday pre-market: EHang (EH.US)