Today: 2 June 2026

Shan Ahmed Khan

As a journalist focused on finance and the stock market, he delivers fast, reliable, and easy-to-understand coverage of market news.

Traders Move In On Both Sides After 3x Chip ETF Turns $100K Into $1.28M

Traders Move In On Both Sides After 3x Chip ETF Turns $100K Into $1.28M

SOXL soared 12.4% to $255.23 as chip stocks surged, fueled by Nvidia and Marvell gains and AI infrastructure demand, while SOXS plunged 12.5%; SOXL’s 1,150% one-year jump highlights the momentum-driven, high-risk nature of leveraged semiconductor ETFs, with retail and analyst attention intensifying amid volatile trading and macroeconomic risks.
2 June 2026
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Palantir Faces AI Trader Test as Stock Rally Draws Bulls

Palantir Faces AI Trader Test as Stock Rally Draws Bulls

Palantir closed Monday up 2.63% at $160.65, but premarket quotes Tuesday showed a 3.37% drop to $155.24. First-quarter revenue soared 85% to $1.633 billion, with U.S. commercial revenue up 133%. The company raised its 2026 outlook. Citi and Rosenblatt hiked targets to $225, while DA Davidson and HSBC cut theirs, citing competition. CEO Karp highlighted U.S. demand. UK government contracts drew new criticism.
2 June 2026
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Alibaba up 6% as China tech stocks get a lift from AI trade

Alibaba up 6% as China tech stocks get a lift from AI trade

Alibaba shares jumped 6.5% in Hong Kong to HK$130.80, trading as high as HK$131.20 amid a tech rally. Investors targeted Chinese internet stocks linked to AI adoption. Quarterly revenue rose 3% but missed estimates; adjusted EBITA plunged 84% on AI and cloud spending. Cloud revenue surged 38% with AI products making up 30% of external sales. Board approved a $0.13125 per share dividend for fiscal 2026.
2 June 2026
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Nvidia Shares Fall Even as AI Stocks Break Records, Traders Eye Taiwan

Nvidia Stock Surges 6% as Jensen Huang’s New AI PC Chip Targets AMD and Intel

Nvidia surged 6.26% to $224.36 after unveiling RTX Spark, a 1-petaflop AI chip for Windows PCs, pushing its value to $5.47 trillion and lifting the Nasdaq and S&P 500 to record closes. Microsoft shares rose 2.3% on the partnership; Qualcomm fell 8.8%, Intel dropped 4.7%. CEO Jensen Huang confirmed strong demand but said Nvidia remains supply constrained, citing reliance on Taiwan-based suppliers as a key risk.
2 June 2026
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Lithium Americas Stock Jumped While Lithium Peers Fell — The Thacker Pass Bet Behind It

Lithium Americas Stock Jumped While Lithium Peers Fell — The Thacker Pass Bet Behind It

Lithium Americas jumped 5.8% to $5.51 as investors focused on its Thacker Pass project, bucking declines in Albemarle, SQM, and the lithium ETF. Construction at Thacker Pass is “accelerating,” with over 1,300 workers on site and $1.2 billion in cash. GM owns 38% of the joint venture. Risks include $80–$120 million in potential tariffs and a $250 million share-sale program. Analyst consensus remains “hold” with a $5.34 target.
2 June 2026
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AMC Jumps After Box Office Data Hits

AMC Jumps After Box Office Data Hits

AMC Entertainment soared 22% to $2.12 as May crowds hit pre-pandemic highs, with 25.5 million attendees and “Backrooms” opening at $81 million. Over 116 million shares traded. AMC posted a Q1 net loss of $117.1 million, $339.2 million in cash, and $4.02 billion in debt. The company warned its cash burn is unsustainable and flagged dilution risk, having raised $7 million by selling 6.8 million shares since April.
1 June 2026
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Plug Power Turns Around but Cash Burn Stays in Focus

Plug Power Turns Around but Cash Burn Stays in Focus

Plug Power shares rose 0.8% to $3.98 as traders watched cash burn and liquidity after a $245.3 million Q1 net loss and $150 million operating cash outflow. Only $223 million of $802 million cash was unrestricted at quarter’s end. Plug expects $142 million from asset sales to close in June. Q1 revenue climbed 22% to $163.5 million; gross margin improved but stayed negative. Analyst targets ranged from $1.20 to $5.
1 June 2026
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UiPath Shares Jump Almost 10% as AI Test Arrives for PATH

UiPath Shares Jump Almost 10% as AI Test Arrives for PATH

UiPath surged nearly 10% to $12.88 after Q1 revenue beat at $418M, guidance raised, and first GAAP profit posted. Annualized renewal run-rate climbed 12% to $1.901B. Analyst targets mostly unchanged; consensus neutral, average $14.48. BofA remains Underperform, citing AI competition and sustainability doubts. Microsoft and ServiceNow expanding in AI agents. UiPath warns on ARR risks, customer retention, and reliance on third-party AI models.
1 June 2026
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Oil pushes toward $100 with Iran talks failing, Hormuz risk back

Oil pushes toward $100 with Iran talks failing, Hormuz risk back

Brent crude surged 6.6% to $97.14 after Iran halted indirect talks with the U.S., raising fears of a Strait of Hormuz blockade. U.S. crude jumped 7.7% to $94.04. Iran-backed groups may target key oil routes. Israeli forces advanced in Lebanon as ceasefire talks faltered. OPEC+ eyes a July output hike, but Gulf supply faces risk. China’s oil demand softened, prompting Saudi Arabia to cut July prices for Asia for a second month.
1 June 2026
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Dow Falls as Nvidia Gains; AI Trade Goes Up Against Rising Oil

Dow Falls as Nvidia Gains; AI Trade Goes Up Against Rising Oil

Nvidia surged 4.34% after launching a new AI PC chip with Microsoft, while Qualcomm dropped nearly 7%. Dow fell 0.22%, S&P 500 flat, Nasdaq up 0.01%. Brent crude jumped 6.11% to $96.69 on Iran-linked risks. United Airlines slid 4.61%, Exxon rose 2.78%. Berkshire Hathaway agreed to buy Taylor Morrison Home for $6.8 billion; shares soared 22.43%. U.S. manufacturing PMI hit a two-year high.
1 June 2026
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Dow Jones Gives Up Gains As AI Rally Hits Oil Price Jolt

Dow Jones Gives Up Gains As AI Rally Hits Oil Price Jolt

Dow drops 0.22% to 50,920.76 after last week’s record, as delayed LSEG data and inflation worries weigh. S&P 500 flat, Nasdaq up 0.01%. Nvidia jumps 4% on new AI chip launch with Microsoft, boosting tech. Most S&P 500 sectors fall; consumer discretionary drops 2%. U.S. manufacturing PMI hits four-year high at 54.0, stoking inflation fears. Brent crude surges 6.11% to $96.69. Investors eye jobs data and Broadcom results this week.
1 June 2026
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Namib Minerals Stock Surges 40% Before the Bell — Why Redwing Is Back in Focus

Namib Minerals Stock Surges 40% Before the Bell — Why Redwing Is Back in Focus

Namib Minerals’ shares soared 39.5% premarket to $2.12, with no new company news since a May 19 Redwing dewatering update. The company pumped 544,570 cubic meters of water at Redwing, aiming to restart the Zimbabwe mine. 2026 gold output guidance at How Mine is 28,000–31,500 ounces, with adjusted EBITDA forecast at $50–$62 million. Market cap sits near $83 million, with a volatile 52-week range from $0.91 to $55.
1 June 2026
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IREN stock drops 7% into MSCI index add — what traders watch before Monday

IREN Stock Gets a $3.65 Billion Answer to Its Biggest AI Question

IREN shares slipped 0.7% premarket to $63.54 after closing a $3.65 billion investment-grade GPU financing facility to support its Microsoft AI cloud contract. The debt, secured by GPUs and contract cash flows, includes a $1.5 billion delayed-draw loan and $2.1 billion in 5.96% senior notes. IREN expects ARR to rise to $4.4 billion after deploying Nvidia Blackwell systems from Dell, but targets depend on delivery, utilization, and pricing.
1 June 2026
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Coeur Mining Shares Rise; June Brings Bigger Challenge After Friday Gain

Coeur Mining Shares Rise; June Brings Bigger Challenge After Friday Gain

Coeur Mining surged 3.93% Friday to $19.32, up 9.59% for the week as gold rebounded and buybacks continued. The company has used $69.7 million of its $750 million repurchase plan, announced a $0.02 semiannual dividend for June 10, and posted Q1 revenue of $856 million. Investors await more output from the New Gold deal and Friday’s U.S. jobs data, seen as a key test for mining stocks.
31 May 2026
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Verizon Just Broke a 13-Year Q1 Subscriber Slump. Here’s What Changed

Verizon Slips; S&P, Nasdaq Reach Highs

Verizon closed at $47.81 Friday, down 0.42% as major indexes hit record highs. The stock lags AI-driven rallies, trading on steady subscriber growth and a 2026 EPS outlook of $4.95–$4.99. FCC cleared Verizon’s $1B spectrum deal this month. CEO Schulman says transformation is ahead of plan, but investors await stronger revenue and cash flow trends amid heavy competition and rising promo costs.
31 May 2026
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TechnipFMC in focus Monday after MSCI review

TechnipFMC ended Friday at $68.42, up 1.1% on nearly ten times average volume after joining the MSCI World Index, but closed the holiday-shortened week down 3.62%. First-quarter revenue rose 11.6% to $2.49 billion, net income hit $260.5 million, and subsea backlog reached $16.47 billion. Analyst price targets range from $45 to $90. Risks flagged include index flows fading, oil price swings, and project delays.
31 May 2026
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Tesla Gets New FSD Boost But Monday Brings Bigger Test

Tesla Gets New FSD Boost But Monday Brings Bigger Test

Tesla shares rose 2.3% for the week as Estonia approved its Full Self-Driving system, classifying it as Level 2. The stock closed at $435.79 Wednesday, down 1.43% on the day but above last week’s close. Tesla registrations in Europe climbed 46.5% in April, while first-quarter deliveries missed Wall Street targets. U.S. investors will react to the Estonia news when markets open Monday.
31 May 2026
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Latest articles

Milbank Raises Big Law Pay Ceiling to $455,000; Rivals React

Milbank Raises Big Law Pay Ceiling to $455,000; Rivals React

2 June 2026
New York, June 2, 2026, 14:07 EDT Milbank LLP pushed up associate pay to as high as $455,000 on Tuesday. McDermott Will & Schulte said it would match soon after, setting off another round of pay hikes among top U.S. law firms. (Bloomberg Law) Big Law associate pay usually goes up in clusters. When one major firm changes the pay scale, others often follow or risk losing junior lawyers and lateral hires. (Reuters) The move follows a slow period for base pay. Top firms kept salaries in a $225,000 to $435,000 band by class year, while both annual and special
FuelCell Energy Stock Surges, Options Traders Brace for More Volatility

FuelCell Energy Stock Surges, Options Traders Brace for More Volatility

2 June 2026
FuelCell Energy shares surged 14% to $24.31 ahead of June 8 earnings, with options markets pricing in a 17% swing on results as traders bet on data-center power demand; the rally follows a 1.6% drop Monday and comes despite a 10.8% year-over-year backlog decline and ongoing losses, raising risks if new deals aren’t secured.
Legend Biotech Stock Jumps on Full Response in Small Trial as Traders React Quickly

Legend Biotech Stock Jumps on Full Response in Small Trial as Traders React Quickly

2 June 2026
Legend Biotech shares soared over 35% to $34.48 after early Phase 1 data showed all six high-dose patients with relapsed or refractory B-cell non-Hodgkin lymphoma responded to its in vivo CAR-T drug LB2501, with five complete responses and no relapses as of April 1; trading volume surged, but the move is based on a small, early study with limited follow-up.
D-Wave shares trade uneven after unveiling 2032 quantum targets

D-Wave shares trade uneven after unveiling 2032 quantum targets

2 June 2026
D-Wave shares erased early gains to end flat after unveiling a quantum gate-model roadmap targeting 100 logical qubits by 2032; Wall Street analysts raised price targets following Investor Day, but revenue fell 81% year over year and a $100 million federal grant remains pending, highlighting execution and funding risks as the company pursues long-term milestones.
Opendoor Trades Higher on Russell 3000 Index Move

Opendoor Trades Higher on Russell 3000 Index Move

2 June 2026
Opendoor Technologies surged 4.9% to $5.57 as investors anticipate its addition to the Russell 3000 Index after June 26, driving heavy trading volume and index-related flows, even as the company guides for Q2 revenue up 25% over Q1 and targets break-even adjusted EBITDA amid ongoing housing market risks.
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