Trade Secrets: Dailies 06.01.2026

Nvidia (NVDA) rose roughly 2% premarket after CEO Jensen Huang unveiled the RTX Spark superchip at the Nvidia GTC event on the sidelines of Computex 2026 in Taipei, declaring that Microsoft and Nvidia will "reinvent the PC." The Arm-based chip is designed to run AI agents locally on laptops and desktops, with new Windows machines from Dell, HP, and Microsoft set to roll out later this year. Huang called it "the reinvention of the computer," comparing the moment to the smartphone revolution.
The PC chip announcement is also a competitive shot across the bow. Nvidia's plan to build system-on-chips for PCs sent shares of AMD, Intel, and Qualcomm lower in premarket, as investors recalibrated the competitive landscape for the consumer computing market that those three have historically owned.
Separately at Computex, Huang unveiled the Vera CPU — described as the AI agent processor — alongside the Isaac GR00T humanoid robot reference design, reinforcing Nvidia's push from data center dominance toward edge AI, robotics, and consumer hardware as its next frontier.
The S&P 500 is entering June off its ninth consecutive weekly gain following the Memorial Day holiday reprieve, with all three major indexes at record highs. The Dow closed at 50,009 and the Nasdaq at 26,270 heading into the new month.
Despite the equity strength, the macro backdrop remains complicated. The Fed's preferred inflation gauge, the PCE price index, came in at 3.8% year-over-year for April — the highest reading since May 2023 — driven heavily by energy costs tied to the Iran war. Core PCE printed 3.3% annually. The Fed funds rate sits at 3.50%–3.75%, and rate hike odds have risen materially for the June 16–17 FOMC meeting. The 10-year Treasury yield is near 4.7% and the 30-year has touched 5.2%, its highest in 19 years.
Jobs data will dominate the week, building toward Friday's May nonfarm payrolls report. Markets will be parsing each data point for clues on whether the Fed leans toward a hike or extends its pause.
On the Iran front, President Trump said Monday he is "not in a hurry" on a deal, telling Fox News he would not rush negotiations at the risk of a bad outcome. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said three provisions of the ceasefire proposal have already been violated, while Iranian forces fired missiles at unspecified targets and deployed attack drones near the Strait of Hormuz. Iran's Foreign Ministry warned that attacks on any front would be considered a violation of the full ceasefire.
Brent crude hit $100 briefly before easing back to around $99 per barrel, up from the low $90s earlier in the week as ceasefire fragility reasserted itself. WTI futures were trading around $92.56. Brent has now fallen nearly 19% from its 2026 peak, its worst month since the Covid-19 pandemic, though physical energy flows through the Hormuz Strait remain "extremely low" per UBS, with Iran crude loadings below 0.3 million barrels per day.
Asian markets were mixed on Monday. South Korea's KOSPI jumped 3.68% to 8,788.38, notching its best monthly gain in nearly three decades — up 31% in May — as Samsung Electronics surged more than 10% to an all-time high following news it had begun shipping samples of its latest high-bandwidth memory chip. The small-cap Kosdaq fell 2.3%.
Japan's Nikkei 225 rose 0.91% to 66,934.33. SoftBank Group added 14% after announcing plans to invest €45 billion ($53 billion) over five years in AI infrastructure across France. The Topix slipped 0.42% to 3,940.70.
Hong Kong's Hang Seng rose 0.86% in the final hour of trade. China's CSI 300 fell 0.98% to close at 4,844.26, dragged by lingering concerns over domestic demand and the property sector. Australia's S&P/ASX 200 was flat at 8,729.40.
S&P 500 futures advanced on the open, Nasdaq-100 futures followed the Nvidia momentum, while Dow Jones futures were marginally higher as Iran uncertainty kept enthusiasm measured.

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