New York, June 2, 2026, 20:03 EDT
U.S. stocks finished at new highs Tuesday, but after-hours trading barely moved. Traders didn’t push for gains after hardware names tied to artificial intelligence drove the regular session.
The S&P 500 finished up 9.94 points, or 0.13%, at 7,609.90. The Dow climbed 228.91 points, or 0.45%, to 51,307.79. The Nasdaq Composite ended just 7.09 points higher, or 0.03%, at 27,093.90. The Philadelphia SE Semiconductor Index surged 5.9%, but software and services stocks dropped 3.3%. Tech is showing a big gap.
Split performance is driving attention now. The market keeps rising, but growth stocks aren’t all in sync. “It’s muted at the surface level,” said Mike Dickson, head of portfolio management at Horizon Investments. “There’s a lot going on under the hood.” Reuters
Stocks were little changed in after-hours trading, a session that usually sees lighter volume after the 4 p.m. New York close. By about 8 p.m. Eastern, SPDR S&P 500 ETF ticked up 0.04%. Invesco QQQ added 0.03%. DIA, which tracks the Dow, slipped 0.02%. Russell 2000 tracker IWM dropped 0.23%.
Hewlett Packard Enterprise shares climbed after what Reuters called a strong quarter. The server maker is now set to reach its long-term financial goals two years ahead of plan. The stock move also kept focus on Dell and Super Micro Computer, which are both part of the current AI server demand trade.
Marvell Technology jumped after Nvidia CEO Jensen Huang said at Computex in Taipei that it’s the next “trillion-dollar company.” Marvell, which makes custom AI chips and data-center interconnects, got a $2 billion investment from Nvidia earlier this year. Reuters
Alphabet slipped. The Google parent dropped during the session after it announced plans to raise $80 billion in equity, with $10 billion coming from Berkshire Hathaway, to back AI infrastructure. “Berkshire is the kind of shareholder that companies like to have,” said Steven Check, president and chief investment officer at Check Capital Management. Reuters
Broadcom gained 2.8% after the close, based on U.S. after-hours numbers. Nvidia was off 0.4%. Tesla dropped 0.5%. Palo Alto Networks showed a 3.2% loss in late action. These thin after-hours moves can change fast.
Palo Alto boosted its annual outlook after markets closed. The cybersecurity firm now sees fiscal 2026 revenue between $11.415 billion and $11.425 billion, above its earlier guide. The company pointed to higher demand for cloud, identity, and AI security products. Third-quarter revenue jumped 31% to $3 billion, beating LSEG’s view.
Job openings in the U.S. jumped by 731,000 to 7.618 million in April, reaching the highest since May 2024, according to the Labor Department’s JOLTS report. But the same data showed hiring slipped. Matthew Martin, senior U.S. economist at Oxford Economics, said higher oil prices might “crimp real incomes” and cause businesses to slow hiring. Reuters
AI demand is being priced like it can make up for almost any other weakness. Oil is still a worry, with Brent closing near $96 per barrel. Cleveland Fed President Beth Hammack warned that rates could go higher if inflation stays hot, calling the inflation outlook “not encouraging.” Reuters Reuters
Payrolls on Friday are the next hurdle for markets. If the number misses, talk could swing back to companies slowing hiring. A strong read would likely bring back fresh rate-hike fears. The current rally is wider than it was, but big tech and AI themes are still doing most of the lifting.
