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The Morning Bull – US Market Morning Update Friday, Jun, 5 2026
US stock futures are mixed this morning, with Dow contracts edging higher while S&P 500 and Nasdaq futures slip, as investors weigh strong US demand against stubborn inflation and higher rate expectations. The ISM Services index sits at 54.5, a reading that signals many service businesses are still busy, which tends to support jobs and spending. At the same time, durable goods orders are up 4.8%, showing solid appetite for big ticket items like aircraft. Yet the 10 year Treasury yield near 4.48% and market odds of a Federal Reserve hike around 85% keep pressure on growth stocks and rate sensitive sectors such as tech and utilities, and put more attention on companies tied to services and industrial spending.
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Top Movers
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Innio (INIO) surged 23.33% after completing a US$2.43b IPO of 90,000,000 common shares.
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Reddit (RDDT) gained 8.51% after Loop Capital reiterated a Buy rating and set a US$260 price target.
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Blackstone (BX) climbed 7.50% as investors focused on its role in Anthropic’s US$36b debt financing.
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Top Losers
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Ciena (CIEN) fell 13.66% after earnings and guidance arrived following a strong year-to-date rally.
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Broadcom (AVGO) declined 12.59% as investors reacted to mixed AI expectations and a downgrade tied to Google chips.
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Micron Technology (MU) fell 7.74%.
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On The Radar
Macro data from Japan and Europe will share the spotlight with a handful of high profile US tech and internet company meetings.
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US mega cap tech governance: Alphabet (GOOGL) AGM on Friday, focusing on board elections and oversight priorities.
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Global internet platforms: Airbnb (ABNB) AGM on Friday reviews executive pay, auditor ratification and shareholder proposals.
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Japan growth pulse: Japan Q1 GDP Growth Annualized Final on Sunday shapes views on regional demand and policy.
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Japan trade and income flows: Japan Current Account for April on Sunday highlights external balances and global trade conditions.
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Eurozone manufacturing signals: Germany Factory Orders for April on Monday helps frame demand for industrial and export exposed stocks.
