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Weekly stock market recap 📈 • S&P 500: -0.21% • Nasdaq: 0.54% • Dow Jones: 0.42% Best performing sector: Consumer Staples Worst performing sector: Comm. Services Top headlines of the week: SpaceX scores record IPO: $SPCX (SpaceX Corp.) raised $75B in a record-setting IPO, valuing the company at about $1.75 trillion. The listing strengthens funding for rockets, satellites, and AI infrastructure. Inflation hits 3-year high: U.S. consumer prices rose 4.2% YoY in May, up from 3.8% in April and the highest reading since April 2023. Core inflation rose 2.9% YoY. Adobe prioritizes AI user growth: $ADBE (Adobe Inc.) raised full-year revenue and earnings guidance after strong AI-driven results but said it will prioritize "freemium" user growth over near-term recurring revenue. The company also announced the departure of CFO Dan Durn. Bezos bets on AI engineering: Jeff Bezos is building Prometheus, a startup valued at $29B, which aims to create an “artificial general engineer” capable of accelerating the design and manufacturing of complex products such as jet engines, spacecraft, and computers. The company has raised more than $12B and is reportedly exploring an additional $100B investment fund. Oracle earnings, AI, & govt. contract: $ORCL (Oracle Corp.) beat earnings and revenue expectations, with cloud revenue up 47% and cloud infrastructure revenue up 93%. However, shares fell after Oracle said it plans to raise another $20B and spend about $70B on AI infrastructure in fiscal 2027. In other news, Oracle was selected to provide a government-wide cloud HR platform.

Market Bullets 📊 SpaceX scores record IPO: $SPCX (SpaceX Corp.) raised $75B in a record-setting IPO, valuing the company at about $1.75 trillion. The listing strengthens funding for rockets, satellites, and AI infrastructure. Adobe prioritizes AI user growth: $ADBE (Adobe Inc.) raised full-year revenue and earnings guidance after strong AI-driven results but said it will prioritize "freemium" user growth over near-term recurring revenue. The company also announced the departure of CFO Dan Durn. Shares sank 5% premarket after slumping 6% yesterday. Bezos bets on AI engineering: Jeff Bezos is building Prometheus, a startup valued at $29B, which aims to create an “artificial general engineer” capable of accelerating the design and manufacturing of complex products such as jet engines, spacecraft, and computers. The company has raised more than $12B and is reportedly exploring an additional $100B investment fund. Wholesale inflation accelerates: U.S. producer prices rose 1.1% MoM in May, pushing annual wholesale inflation to 6.5% — the highest level since 2022. The numbers were hotter than the expected 0.6% MoM and 6.4% YoY.

15 of the largest ETFs (by AUM) in the world! Which of these would you buy?

Market Bullets 📊 SpaceX valuation & IPO concerns: Sen. Elizabeth Warren urged the SEC to delay SpaceX’s IPO, citing valuation, governance, and conflict-of-interest concerns. Short seller Jim Chanos also argued that SpaceX’s planned $1.75T IPO valuation is driven by “hopes and dreams” rather than fundamentals. Oracle earnings, AI, & govt. contract: $ORCL (Oracle Corp.) beat earnings and revenue expectations, with cloud revenue up 47% and cloud infrastructure revenue up 93%. However, shares fell after Oracle said it plans to raise another $20B and spend about $70B on AI infrastructure in fiscal 2027. In other news, Oracle was selected to provide a government-wide cloud HR platform. AI pricing battle looms: OpenAI is considering major price cuts for AI usage to compete with Anthropic as enterprises push back on costs. Lower pricing could accelerate adoption, but may pressure margins. Xbox plans major cuts: $MSFT (Microsoft Corp.)'s Xbox division is reportedly planning significant layoffs and budget reductions next month as it restructures under new leadership. U.S.-Iran conflict ramps up: The U.S. significantly escalated its confrontation with Iran, launching a new round of strikes on multiple targets and threatening additional attacks. Iranian responded with missile and drone attacks against U.S.-linked facilities in Kuwait and Bahrain, leading Kuwait to briefly close its airspace and Gulf states to intercept incoming projectiles.

Market Bullets 📊 Inflation hits 3-year high: U.S. consumer prices rose 4.2% YoY in May, up from 3.8% in April and the highest reading since April 2023. Core inflation rose 2.9% YoY. Anthropic releases advanced AI: Anthropic debuted Claude Fable 5, a version of its highly capable Mythos AI model that was previously restricted over security concerns. The release includes safeguards. Congress approves ICE funding: In a 214-212 vote, the House passed a $70B bill to fund ICE and Border Patrol through the remainder of President Trump’s term. The measure now heads to the White House. GM expands into energy storage: $GM (General Motors Co.) plans to develop sodium-ion batteries for grid-scale energy storage by 2028, diversifying beyond EVs as demand slows. The company is also expanding vehicle-to-grid capabilities and charging features. U.S. and Iran exchange strikes: U.S. forces struck Iranian air defense systems near the Strait of Hormuz, while Iran responded with attacks targeting U.S. bases in Bahrain, Kuwait, and Jordan. Kalshi updates: Kalshi plans to require employer disclosure for certain prediction markets tied to sensitive or nonpublic information, aiming to deter insider trading. The move comes as Kalshi's perpetual futures — futures contracts that don't expire — exceeded $1B in trading volume just 1 week after debuting.

Another bloody day for AI & Semis, this time without much of a catalyst. Heatmap via @stock_analysisx

As shown in the @stock_analysisx heatmap, much of the tech sector made a decent comeback today. $NVDA, $AVGO, $MU

40 analysts currently rate $NVDA a Buy, with an average 12-month price target of $308.94. Current analyst targets range from $225 to $500. View all analyst forecasts: stockanalysis.com/stocks/nvd… First highlighted by @ArchitectIncome.

Market Bulets 📊 Marvell joins the S&P 500: $MRVL (Marvell Technology Inc.) rose nearly 9% premarket after S&P Global announced that the company will join the S&P 500 on June 22, boosting visibility for the AI chipmaker. Corning lands Amazon AI deal: $GLW (Corning Inc.) surged after signing a multibillion-dollar agreement to supply optical fiber for $AMZN (Amazon Inc.)'s U.S. AI data centers. The deal adds 1,000 jobs and strengthens Corning’s position as a key AI infrastructure supplier. Nvidia expands Korean partnerships: $NVDA (NVIDIA Corp.) announced new agreements with SK Hynix, SK Telecom, Naver, Hyundai Motor, and others to secure AI memory supply and accelerate data center, robotics, and autonomous vehicle development. Google taps SpaceX compute: $GOOGL (Alphabet Inc.) agreed to pay SpaceX about $920M monthly through mid-2029 for AI compute capacity, highlighting surging infrastructure demand and creating a major new revenue stream ahead of SpaceX’s planned IPO. Israel and Iran exchange strikes: Iran and Israel exchanged direct strikes for the first time since the April ceasefire, though Iran’s military says it is now halting offensive operations.

Great chart from @itsTarH! We've started adding quote pages for major private companies to Stock Analysis so investors can track valuation, funding rounds, revenue estimates, IPO status, and more. Anthropic: stockanalysis.com/private/an…

Weekly stock market recap 📈 • S&P 500: -2.37% • Nasdaq: -4.35% • Dow Jones: -0.04% Best performing sector: Energy Worst performing sector: Technology Top headlines of the week: Broadcom slumps despite beat: $AVGO (Broadcom Inc.) reported 48% revenue growth to $22.2B, driven by AI semiconductor sales that more than doubled to $10.8 billion. Still, shares fell nearly 20% following the report as investors had sought even higher AI growth. Anthropic files for IPO: Anthropic filed for a U.S. IPO as its valuation approached $965B, positioning it among the world’s most valuable AI firms. Investors are expected to closely examine its revenue growth and profitability outlook as it competes with rivals in the AI race. SpaceX sets IPO price: SpaceX plans to price its IPO at $135 per share, seeking a record $75B raise and a $1.75T valuation. Though the offering could become the largest IPO ever, Morningstar asserted that the company is worth less than half of its target valuation. Alphabet boosts AI spending: $GOOGL (Alphabet Inc.) plans to raise $80B through stock sales, including a $10B investment from Berkshire Hathaway, to expand AI infrastructure amid surging demand. Euro-zone inflation rises: Inflation across the euro-zone climbed to 3.2% in May, up from 3% in April, driven by a 10.9% jump in energy prices linked to the Iran war. Markets are now pricing in a high likelihood of another ECB interest rate hike later this month.

Market Bullets 📊 Lululemon tanks on outlook: $LULU (Lululemon Athletica Inc.) lowered its full-year sales and earnings guidance and issued weak quarterly forecasts, citing negative media coverage and underperforming product launches. SpaceX updates: SpaceX’s IPO underwriters barred investors from Hong Kong and China from participating in its $75B offering, citing national security regulations. Though $JPM (JPMorgan Chase & Co.)'s Jamie Dimon is encouraging high-wealth clients to invest, $SPGI (S&P Global Inc.) reaffirmed its index eligibility rules, preventing SpaceX from fast-tracking into the S&P 500. Jobs growth smashes expectations: U.S. nonfarm payrolls rose 172K in May, topping forecasts for 80K and nearly matching April’s upwardly revised 179K. Unemployment stayed unchanged at 4.3%. Silver miner surges in IPO: Sunshine Silver Mining & Refining raised $270M in an IPO valuing the company at $1.9B, with shares jumping 27% on debut. The funds will help restart an Idaho mine as strong silver demand fuels investor interest. OpenAI assents to government reviews: OpenAI said it will comply with President Trump’s voluntary AI order requiring companies to provide models 30 days before release for federal benchmarking.

Market Bullets 📊 Broadcom slumps despite beat: $AVGO (Broadcom Inc.) reported 48% revenue growth to $22.2B, driven by AI semiconductor sales that more than doubled to $10.8 billion. Still, shares fell 15% premarket since investors had sought even higher AI growth. Amazon tops Fortune 500: $AMZN (Amazon Inc.) became the No. 1 company on the Fortune 500 by revenue, surpassing $WMT (Walmart Inc.) for the first time in 13 years. House votes to halt Iran war: The House approved a war powers resolution to halt U.S. military action against Iran, with 4 Republicans joining all Democrats in a 215-208 vote. The measure now moves to the Senate. Private payrolls hit 1-year high: Private businesses added 122K jobs in May, the strongest increase since January 2025 and slightly above forecasts. The data suggests labor-market resilience. Jobless claims: Seasonally adjusted initial jobless claims totaled 225,000 for the week ending May 30, up 13,000 WoW. The 4-week moving average was 214,750, up 6,500 WoW.

Market Bullets 📊 SpaceX sets IPO price: SpaceX plans to price its IPO at $135 per share, seeking a record $75B raise and a $1.75T valuation. Though the offering could become the largest IPO ever, Morningstar asserted that the company is worth less than half of its target valuation. U.S. proposes new global tariffs: The Trump administration has floated tariffs of 10-12.5% on imports from 60 economies, including the E.U., China, and India. The justification for the new levees is supposed forced-labor concerns. GameStop surges on earnings: $GME (GameStop Corp.) reported a sharp increase in Q1 profit and announced a $2B share buyback program. Sales rose 14% to $835.3M, driven by growth in collectibles, with shares popping 8%. Oil hits $99: Brent crude rose 3% to nearly $99 a barrel after renewed U.S.-Iran strikes and disruption in the Strait of Hormuz. GitLab cuts jobs: $GTLB (GitLab Inc.) will cut 14% of its workforce and exit 22 countries as it pivots toward AI-focused software development. Despite revenue beating forecasts, shares plunged 5.5% today after falling 6% yesterday. Job openings surge: U.S. job openings rose to 7.62M in April, the highest level in nearly 2 years. The uptick suggests resilient labor demand, though a decline in hiring and quits suggests a cautious job market.

Market Bullets 📊 Florida sues OpenAI: Florida sued OpenAI and CEO Sam Altman, alleging ChatGPT is unsafe for minors and accusing the company of negligence, deceptive practices, and inadequate parental controls. The lawsuit follows a criminal probe tied to a university shooting. Anthropic files for IPO: Anthropic filed for a U.S. IPO as its valuation approached $965B, positioning it among the world’s most valuable AI firms. Investors are expected to closely examine its revenue growth and profitability outlook as it competes with rivals in the AI race. HPE surges on AI demand: $HPE (Hewlett Packard Enterprise Co.) jumped 29% after raising its growth targets, as strong AI server demand and higher pricing boosted its outlook. Alphabet boosts AI spending: $GOOGL (Alphabet Inc.) plans to raise $80B through stock sales, including a $10B investment from Berkshire Hathaway, to expand AI infrastructure amid surging demand. Euro-zone inflation rises: Inflation across the euro-zone climbed to 3.2% in May, up from 3% in April, driven by a 10.9% jump in energy prices linked to the Iran war. Markets are now pricing in a high likelihood of another ECB interest rate hike later this month.

Market Bullets 📊 Berkshire buys Taylor Morrison: $BRK.B (Berkshire Hathaway Inc.) will buy home-builder $TMHC (Taylor Morrison Home Corp.) for $6.8B in cash, a 24% premium. The deal is one of CEO Greg Abel’s first major acquisitions. FedEx Freight spins off: FedEx Freight completed its spinoff from $FDX (FedEx Corp.) and is set to begin NYSE trading as an independent company. Software's strong May: Software stocks posted their strongest monthly performance since 2001 as strong earnings from companies, including $SNOW (Snowflake Inc.) and $OKTA (Okta Inc.), eased AI disruption fears. The iShares Expanded Tech-Software ETF rose 21%. Powell defends Fed independence: Former Federal Reserve Chair Jerome Powell warned that removing Fed officials over policy disagreements would undermine the central bank’s credibility and independence. His remarks come as the Supreme Court weighs President Trump’s effort to remove Fed Governor Lisa Cook. Middle East tensions escalate: The U.S. bombed Iranian radar and drone sites after Iran downed a U.S. drone. Iran retaliated with missile and drone fire toward Kuwait, raising risks to ceasefire talks. Israel's Netanyahu also ordered strikes on Hezbollah targets in Beirut’s southern suburbs as fighting between Hezbollah and Israel intensified despite a U.S.-brokered ceasefire announced in April.

Weekly stock market recap 📈 • S&P 500: 1.38% • Nasdaq: 2.81% • Dow Jones: 0.75% Best performing sector: Technology Worst performing sector: Energy Top headlines of the week: Blue Origin explosion: A Blue Origin space rocket exploded during a launchpad test, potentially delaying flights into 2027. The damage threatens NASA's lunar mission timelines and Amazon’s planned Kuiper satellite internet deployment. Dell earnings: $DELL (Dell Technologies Inc.) surged 31% after Q1 revenue jumped 88% to a record $43.8B — far exceeding expectations — on strong demand for Nvidia-powered AI servers. The news comes amidst controversy over President Trump's purchase of $1M of Dell stock. Anthropic leapfrogs OpenAI: Anthropic raised $65B in a funding round that valued the AI startup at $965B, surpassing OpenAI’s last reported valuation. BP removes chairman: $BP (BP PLC) sacked Chairman Albert Manifold effective immediately, citing governance oversight and conduct issues. Ian Tyler will serve as interim chair. U.S. eyes drone investment: The Trump admin. is discussing funding deals, potentially including equity stakes, with U.S. drone makers to expand domestic production and cut costs for defense supply chains. Snowflake earnings: $SNOW (Snowflake Inc.) surged 36% after raising its annual product revenue forecast and signing a new $6B multiyear cloud and chip agreement with Amazon. Q1 product revenue rose 34%, topping estimates.

Market Bullets 📊 Dell earnings: $DELL (Dell Technologies Inc.) surged 31% after Q1 revenue jumped 88% to a record $43.8B — far exceeding expectations — on strong demand for Nvidia-powered AI servers. The news comes amidst controversy over President Trump's purchase of $1M of Dell stock. Anthropic leapfrogs OpenAI: Anthropic raised $65B in a funding round that valued the AI startup at $965B, surpassing OpenAI’s last reported valuation. Wipro expands ServiceNow pact: $WIT (Wipro Ltd.) rallied yesterday after expanding its agreement with $NOW (ServiceNow Inc.) to employ AI-driven workflow automation across enterprise operations. Blue Origin explosion: A Blue Origin space rocket exploded during a launchpad test, potentially delaying flights into 2027. The damage threatens NASA's lunar mission timelines and Amazon’s planned Kuiper satellite internet deployment. GDP figure revised down: U.S. Q1 GDP growth was adjusted to a 1.6% annualized rate, down from 2%, reflecting weaker inventory investment and softer consumer spending. Still, corporate profits rose 17% YoY, the strongest gain since 2021.