The Morning Bull – US Market Morning Update Monday, Jun, 1 2026

US stock futures are pointing slightly higher this morning, with E mini S&P 500 contracts up about 0.2% and Nasdaq 100 futures ahead roughly 0.3%, as investors balance strong US data, calmer inflation signals, and mixed news from China. The Chicago PMI, a key scorecard of business activity in the Midwest, jumped to 62.7 in May 2026, which hints that companies are busier and could keep profits supported. At the same time, the 10 year US Treasury yield is sitting near 4.45% while markets see about a 46% chance of another rate hike, so borrowing costs for households and businesses remain relatively high. In China, the official services PMI is just above 50 and the manufacturing PMI is right at 50, which means growth there is only just holding in positive territory and demand for everything from machinery to luxury goods is still soft. With a heavy week of US jobs data and global inflation readings ahead, the real question for investors is how long strong business activity and a firm jobs market can coexist with higher interest rates without putting extra pressure on interest rate sensitive sectors, such as real estate and smaller US companies. Growth focused areas, including technology and consumer stocks, are also in the spotlight to see whether they can keep justifying higher valuations if borrowing stays expensive.

With rates still biting and growth stocks under pressure, focus on 64 resilient stocks with low risk scores today.

Top Movers

• Dell Technologies (DELL) jumped 32.76% after Q1 earnings, guidance, and analyst upgrades highlighted strong AI server demand.
• Okta (OKTA) climbed 30.14% after strong Q1 results, raised outlook, and a wave of higher analyst targets.
• NetApp (NTAP) gained 22.39% as Q4 results, guidance, dividend affirmation, and multiple target hikes supported sentiment.

Is Okta still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

Look past the noise – uncover the top narrative that explains what truly matters for Tower Semiconductor’s long-term success.

On The Radar

Earnings from key tech and cybersecurity stocks, alongside US jobs and PMI data, headline the next few sessions.

• Cybersecurity focus: Palo Alto Networks (PANW) reports Q3 2026 results on Tuesday, spotlighting demand for security spending and margins.
• Consumer check: Ulta Beauty (ULTA) Q1 2027 results on Tuesday highlight discretionary beauty spending and any commentary on store traffic.
• Discount retail: Dollar General (DG) Q1 2027 update on Tuesday will show how budget conscious shoppers are behaving.
• AI and chips: Broadcom (AVGO) Q2 2026 earnings on Wednesday put data center and networking demand under the microscope.
• Cyber and cloud: CrowdStrike (CRWD) and Veeva Systems (VEEV) Wednesday reports give a read on security and software spending trends.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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