Stock Market Summary – June 03, 2025

Artificial intelligence chipmaker Nvidia reclaimed the title of the world’s most valuable publicly traded company, surpassing Microsoft with a market cap of $3.45 trillion. Nvidia shares rose about 3%, contributing to a nearly 24% surge over the past month. Other big movers in the chip market included Broadcom and Micron Technology, which increased 3% and 4% respectively.

U.S. stock futures showed little change after S&P 500 posted two days of gains. Dow Jones Industrial Average futures edged up by 0.01%, while S&P 500 futures also gained 0.01% and Nasdaq 100 futures fell by 0.02%. Cybersecurity firm CrowdStrike Holdings experienced a drop of over 6% in extended trading due to soft guidance on revenue, while Hewlett Packard Enterprise surged by 3%.

Analysts are predicting further growth for biotech company Merus following the release of promising data for a cancer treatment. The Netherlands-based company’s shares ramped up by about 40% over the past month and reached a new all-time high.

Fed Governor Lisa Cook expressed concern about the impact of tariffs on inflation and the labor market, highlighting potential risks to economic stability. Despite these concerns, the economy is currently considered in relatively good shape.

In other news, Elon Musk’s brain tech startup Neuralink closed a funding round of $650 million, and Campbell’s reported robust sales in meals and beverages amidst a trend of increased home cooking.

The Dow Jones rose more than 200 points, or 0.5%, with the S&P 500 and the Nasdaq Composite advancing by 0.6% and 0.8% respectively. The stock market continues to rally despite trade concerns and softening economic indicators.

Stock market movements saw some notable impacts on certain companies. Hewlett Packard Enterprise saw its shares increase by 3% after reporting a Q2 adjusted earnings 38 cents per share, beating expectations of 32 cents. However, cybersecurity firm CrowdStrike saw a 6% decrease after soft revenue guidance for Q2, forecasting between $1.14bn-$1.15bn versus expected revenues of $1.16bn.

Shares in Guidewire Software rose by approximately 8% after delivering Q3 results that exceeded expectations. Similarly, Wells Fargo & Co.’s stock also rose 2% following the lifting of restrictions imposed by the Federal Reserve on its asset cap.

S&P 500 is expected to undergo some changes, with several financial services companies potentially getting a boost. Stocks identified for potential inclusion include Robinhood, Interactive Brokers, Ares Management, Flutter Entertainment, and Cheniere Energy.

Uranium Energy, a US-based stock, is projected to rally by more than 30%, echoing President Donald Trump’s intention to quadruple nuclear power by 2050. BMO Capital Markets initiated coverage on Uranium Energy suggesting a buying target of $7.75 per share, indicating a 36% upside to its current closing price.

Lastly, the launch of Nintendo’s new console, ‘Switch 2,’ is anticipated to be received positively, with Nvidia’s CEO Jensen Huang praising the console’s highly advanced features, including artificial intelligence processors aimed at enhancing gameplay.