Weekly：S&P 500 Streak Snapped, Jobs Hot, SPACE X IPO Opens

Last Week's Recap

1. Weekly Market Digest:S&P 500 Streak Snapped, Jobs Hot, Yields Spike, Bitcoin Crashes

• Streak snapped — S&P 500 broke its 9-week win streak, down ~2.5%; NASDAQ plunged 4.7%, Dow slipped 0.2% on a Friday semi sell-off.

• Jobs momentum — May added 172,000 jobs, beating consensus for a third straight month; 3-month average hit 188,000, strongest since March 2024.

• Yields rise — 2-year Treasury spiked to 4.16% (from 4.00%), leading a bond sell-off on the hot jobs data.

• Rate hike outlook — CME FedWatch: ~72% odds of Fed hikes by year-end (25bp–75bp), 27% no change, <1% chance of a cut.

• Bitcoin decline — Crashed ~18% to ~$60,000, lowest since September 2024; well below the $82,000 May peak and $126,000 record.

• Inside Q1 earnings — S&P 500 Q1 earnings up 28.6% YoY, per FactSet—highest since Q4 2021, sixth straight quarter of double-digit growth; IT led at +54.0%.

• Oil volatility — Crude briefly topped $96 midweek before settling near $90 Friday, up nearly 4% for the week.

• CPI report ahead — Wednesday's CPI will test inflation momentum; April headline was 3.8% (highest since May 2023), core at 2.8%.

  

• Read more>> https://ttm.financial/news/2641179346

2. US Market – SPX tumbles 2.59% as semiconductor rout wipes out AI gains

The $S&P 500(.SPX)$ plunged 2.59% and closed at 7,383.74, as a brutal selloff across the semiconductor complex erased the prior week's AI-driven gains.

Industry leaders: Housewares & Specialties (+9.05%), Agricultural & Farm Machinery (+6.68%), Hotel & Resort REITs (+6.24%), Managed Health Care (+5.77%), and Security & Alarm Services (+4.51%).

10 Popular Stocks:

• $Micron Technology(MU)$ -13.25% — The memory-chip leader collapsed on valuation concerns and supply-demand fears. Yahoo Finance shows the stock closed at $864.01 on 5 June, with analysts' average 12-month target at $739.47 (25.7% downside). A downgrade to Sell amplified the move on shifting AI memory pricing power concerns.

• $Advanced Micro Devices(AMD)$ -10.86% — Tumbled to $466.38 on 5 June. Barclays maintained Overweight on 1 June and raised its target from $500 to $665, citing AI accelerator market-share optimism.

• $Broadcom(AVGO)$ -7.92% — Slid to $385.73 on 5 June. UBS maintained Buy on 4 June but trimmed its target from $490 to $485, while concerns over ~80x trailing earnings and a rumored $18 billion OpenAI-related deal weighed.

• $Taiwan Semiconductor Manufacturing(TSM)$ -6.69% — Dropped to $415.17 on 5 June, tracking front-end semiconductor capex rotation. Barclays had raised its target to $470 on 22 April.

• $NVIDIA(NVDA)$ -6.20% — Fell to $205.10 on 5 June as profit-taking intensified across the data-center complex.

• $Meta Platforms, Inc.(META)$ -5.51% — Declined on ad-spending slowdown concerns and mega-cap tech rotation.

• $Tesla Motors(TSLA)$ -6.56% — Slid on delivery-margin concerns and broader EV sector weakness.

• $Johnson & Johnson(JNJ)$ +2.02% — Advanced to $232.77 on 5 June on defensive rotation. Leerink Partners upgraded to Outperform on 13 May with a $265 target.

• $Berkshire Hathaway(BRK.A)$ +2.11% — Gained on flight-to-safety flows as investors sought refuge from tech volatility.

Performance is subjected to market volatility

3. Hong Kong Market – HSI retreats 0.88% as AIA collapse and energy drag offset Tencent rebound

$HSI(HSI)$: The Hang Seng Index declined 0.88% and closed at 24,961.95, as a sharp selloff in AIA and energy names offset a strong rebound in Tencent and Chinese banks. The index struggled to hold the 25,000 level.

The $HSTECH(HSTECH)$ eked out a 0.09% gain and closed at 4,888.39.

Industry leaders: Transaction & Payment Processing Services (+13.78%), Security & Alarm Services (+12.83%), and Paper Packaging (+10.97%).

9 Popular Stocks:

• $AIA(01299)$ -10.03% — The pan-Asian insurer collapsed on profit-taking and concerns over new-business-value growth in China and Hong Kong.

• $FAST RETAIL-DRS(06288)$ -5.94% — The UNIQLO operator's depositary receipt pulled back after recent strength.

• $CATL(03750)$ -4.5% — Tracked EV supply-chain weakness and lithium-price concerns.

• $PETROCHINA(00857)$ -3.12% — Tracked Brent crude lower as profit-taking hit the petroleum complex.

• $HSBC HOLDINGS(00005)$ -2.27% — Slipped on profit-taking after recent strength.

• $CM BANK(03968)$ +2.29% — Advanced on improving wealth-management fee income.

• $CCB(00939)$ +2.71% — Gained on defensive positioning and attractive dividend yield.

• $ICBC(01398)$ +2.86% — Rose on income-investor demand for high-dividend financials.

• $TENCENT(00700)$ +6.09% — Rebounded on gaming and fintech optimism, leading the HSTECH's marginal gain.

Performance is subjected to market volatility

4. Singapore Market – STI edges up 0.24% as banks & Thai SDRs lifted

$Straits Times Index(STI.SI)$ gained 0.24% and closed at 5,049.96, as strength in local banks and Thai SDRs offset sharp declines in Indonesian financials.

Sectors: Aluminum (+34.85%), Forest Products (+24.93%), Independent Power Producers (+12.72%), Electronic Equipment & Instruments (+12.07%), and Specialty Stores (+7.81%).

10 Popular Stocks:

• $Gulf Dev TH SDR 1to1(TGUD.SI)$ +12.27% — The Thai power and telecom conglomerate's SDR rallied on core profit growth and diversification synergies from its merged energy and telecom businesses.

• $Airports TH TH SDR1to1(TATD.SI)$ +6.51% — The Thai airport operator's SDR climbed on tourism recovery optimism and resilient passenger traffic through Suvarnabhumi.

• $Tencent HK SDR 10to1(HTCD.SI)$ +7.6% — The Chinese tech giant's SDR bounced back on gaming and fintech optimism after recent weakness.

• $Bank of CN HK SDR 1to1(HBND.SI)$ +4.17% — The Chinese state-owned bank's HK SDR gained on defensive positioning and its attractive dividend yield in a volatile market.

• $OCBC Bank(O39.SI)$ +3.37% — The banking heavyweight advanced on resilient regional credit demand and record non-interest income.

• $DBS(D05.SI)$ +2.99% — Singapore's largest bank continued its post-earnings ascent on record Q1 profit and wealth-management fee growth.

• $UOB(U11.SI)$ +2.28% — The third-largest local bank rose on ASEAN commercial banking momentum and digital wholesale traction.

• $GLD SG$(GSD.SI)$ +2.11% — The SGD-denominated gold ETF tracked the yellow metal higher as safe-haven demand persisted amid global uncertainty.

• $TLKM ID SDR 1to5(ITKD.SI)$ -10% — The Indonesian telecom giant's SDR slumped on profit-taking after recent strength and concerns over regulatory pressures.

• $BBCA ID SDR 1to2(IBKD.SI)$ -14.29% — The Indonesian private bank's SDR collapsed on sharp profit-taking and thin-liquidity volatility, erasing a significant portion of recent gains.

Performance is subjected to market volatility

5. Australian Market – XJO slips 1.22% as banks and miners lead broad decline

The $S&P/ASX 200(XJO.AU)$ declined 1.22% to 8,625.1, dragged by the Big Four banks and iron ore miners.

Industry leaders: Independent Power Producers & Energy Traders (+61.59%), Semiconductor Equipment (+27.18%), and Health Care Technology (+18.89%).

9 Popular Stocks:

• $FORTESCUE LTD(FMG.AU)$ -7.98% — The pure-play iron ore miner collapsed on China property-sector weakness and falling 62% Fe prices. Analyst consensus 12-month target sits at ~AU$18.85, implying modest downside from current levels.

• $WESTPAC BANKING CORPORATION(WBC.AU)$ -3.31% — Underperformed on deposit competition and weaker revenue guidance. Westpac's own economics team forecasts a 20% iron ore correction to US$83/t by end-2026, creating a macro overhang.

• $ANZ GROUP HOLDINGS LTD(ANZ.AU)$ -3.07% — Fell on institutional-banking margin compression and commercial-property exposure.

• $COMMONWEALTH BANK OF AUSTRALIA(CBA.AU)$ -2.5% — Now down over 9% for May on mortgage-pricing competition and funding-cost pressures.

• $NATIONAL AUSTRALIA BANK LTD(NAB.AU)$ -1.98% — Tracked the sector lower despite half-year resilience, with SME credit tightening.

• $BHP GROUP LTD(BHP.AU)$ -1.72% — Pulled back from record highs as copper profit-taking offset resilient shipments. Copper now represents 51% of H1 FY2026 EBITDA for the first time in BHP's history. Industrial-relations risk also looms: rail and electrical workers at Port Hedland have voted for protected action, with earliest possible commencement end-June 2026.

• $NEWMONT CORP-CDI(NEM.AU)$ -1.66% — Tracked gold lower, though Goldman Sachs forecasts a return to ~US$5,400/oz by end-2026, supported by central bank buying averaging 60 tonnes/month.

• $Block Inc(XYZ.AU)$ -4.94% — Slid on profit-taking and consumer-spending slowdown concerns. Q1 FY26 EPS of US$0.85 beat US$0.68 estimate, yet the stock closed at US$68.15 on 5 June, with analyst targets at US$85.12 (24.7% upside).

• $TELSTRA GROUP LTD(TLS.AU)$ -4.61% — Declined on yield-proxy rotation. Analysts expect a 20-cent fully franked FY26 dividend (4.1% yield), with UBS/Jarden target at AU$4.80 and Macquarie at AU$5.04.

Performance is subjected to market volatility

The Week Ahead

1. Macro Factors

Monday

• ISM Manufacturing PMI, Construction Spending $

• Apple WWDC (Worldwide Developers Conference)

Tuesday (Key)

• ADP Employment Report, JOLTS Job Openings, ISM Services PMI, Factory Orders

Wednesday

• Weekly Jobless Claims, Productivity & Labor Costs, CPI (Consumer Price Index) — BLS

Thursday

• Macro: PPI (Producer Price Index) — BLS

Friday (Most Important)

• Jobs Report & Unemployment Rate (BLS), Consumer Credit (Fed)

• SpaceX IPO opens for trading on Nasdaq

2. Earnings Spotlight: 8 June – 12 June

Monday

• Pre-market: $VinFast Auto(VFS)$, $FuelCell(FCEL)$

Tuesday (Key)

• Pre-market: $JM Smucker(SJM)$, $SailPoint Parent, LP(SAIL)$, $Uranium(UEC)$, $Academy Sports & Outdoors, Inc.(ASO)$

• After-hours: $Casey's General(CASY)$

Wednesday

• Pre-market: $Chewy, Inc.(CHWY)$

• After-hours: $Oracle(ORCL)$

Thursday

• After-hours: $Adobe(ADBE)$, $Lennar(LEN)$