🌅 NordFX Morning Market Update - June 3, 2026
🇺🇸 Wall Street closed at fresh all-time highs Tuesday, extending its winning streak to nine consecutive sessions. The S&P 500 rose to 7,609 (+0.13%), closing above 7,600 for the first time ever. The Dow gained 229 points to 51,307 (+0.45%), and the Nasdaq edged up to 27,093 (+0.03%). The AI rally continued to drive gains - Marvell Technology surged 33% after Nvidia's Jensen Huang called it a future trillion-dollar company, while Hewlett Packard Enterprise soared 19% on strong earnings.
🌏 Asian Markets are mixed Wednesday morning. Japan's Nikkei 225 topped 68,000 for the first time ever, surging +2.2%, powered by AI-linked chip stocks. Hong Kong's Hang Seng slipped -0.9% to ~25,804, while the Shanghai Composite eased -0.2% to ~4,069. Taiwan's Taiex rose +1.8%. South Korean markets are closed for a holiday.
🟡 Gold is under pressure at ~$4,478 (-0.27%), as stronger-than-expected US labor market data - April job openings at a near two-year high - reinforced expectations of a Fed rate hike before year-end.
🛢 Oil gains for a third straight session. Brent crude climbs to ~$96.90 (+0.93%), supported by the geopolitical risk premium as US-Iran talks remain deadlocked and US crude inventories fell 6.8 million barrels last week.
💱 Forex - EUR/USD holds near 1.1631. Markets await the Eurozone inflation report; ECB minutes pointed to a possible 25 bps rate hike at the June 11 meeting.
₿ Bitcoin slides to ~$66,700 (-4.4%), pressured by risk-off sentiment and inflation fears tied to the Middle East conflict.
🔑 Key Theme: The AI boom is lifting markets globally while the US-Iran impasse keeps oil elevated and gold under pressure. Trump insists negotiations are ongoing despite Iranian reports of a breakdown.
📅 Today's Watch: US ADP employment, EIA crude inventory data (official), Fed speakers.
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