Stock futures slide as global trade tensions rise to start the new month

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Stock futures fell Monday, the first trading day of June, as global trade tensions increased. S&P 500 futures traded down 0.4%, and Nasdaq-100 futures were 0.6% lower. Futures tied to the Dow Jones Industrial Average declined 143 points, or 0.3%.

China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world’s two largest economies are deteriorating. CNBC reports.

📈 Gold surges with rising global tensions boosting haven demand: Gold surged on revived demand for safer assets as the US and China traded accusations, while a dramatic series of attacks clouded the prospects of peace between Russia and Ukraine.

Bullion climbed more than 2% after Kyiv staged drone strikes across Russia on Sunday, hitting airfields as far away as eastern Siberia. Around the same time, Moscow launched one of its longest attacks against Kyiv, ahead of crucial peace talks this week. Yahoo Finance reports.

🏦 Fed's Waller still open to cutting interest rates later this year: Federal Reserve Governor Christopher Waller said on Monday that interest rate cuts remain possible later this year even with the Trump administration's tariffs likely to push up price pressures temporarily.

Given that a rise in inflation pressures tied to President Donald Trump’s import tax increases is unlikely to be persistent, "I support looking through any tariff effects on near term-inflation when setting the policy rate," Waller told a gathering in Seoul, South Korea. Reuters reports.

💊 Sanofi to buy US biopharma group Blueprint for over $9 billion: France's Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for over $9 billion to boost its position in rare immunology diseases, in what would be the biggest healthcare deal in Europe this year, according to LSEG data.

Blueprint is a specialist in treatments for systemic mastocytosis, a rare immunological disorder. The two companies said on Monday that Sanofi would pay $129.00 per share in cash. Reuters reports.

📶 Qualcomm's Alphawave takeover deadline gets extended: Alphawave IP Group said the deadline for Qualcomm to either announce a firm intention to make a takeover offer or walk away has been extended a fourth time.

The U.K. semiconductor company said Monday that the deadline is now set to Thursday, and that both companies continue negotiating a possible offer. The deadline, originally set on April 29, had already been extended three times. Software chip maker Qualcomm said in early April that it was considering making an offer for Alphawave, though didn't disclose financial details. MarketWatch reports.

🔥 China’s Leapmotor and Huawei-backed Aito report record high deliveries in May as competition heats up: Chinese electric carmakers Leapmotor and Aito reported record high deliveries in May, while other startups struggle to catch up as the price war intensifies.

Stellantis-backed Leapmotor delivered a record 45,067 vehicles in May, reflecting year-on-year growth of 148%. On May 15, the automaker launched an updated version of its C10 model, a mid-sized SUV, that retailed from 122,800 yuan ($17,045). Leapmotor said over 13,000 units of the C10 were delivered in May. CNBC reports.

💼 Microsoft to invest $400 million in Switzerland on AI, cloud computing: Microsoft will invest $400 million in Switzerland, the company said on Monday, with the money going towards developing its cloud computing and artificial intelligence infrastructure.

The U.S. tech company announced the investment at a meeting of Swiss Economy Minister Guy Parmelin and its vice chair Brad Smith in Bern. Yahoo Finance reports.

🛡️ Defense and space firm Voyager seeks $1.6 billion valuation in US IPO: Defense and space tech company Voyager Technologies aims at a valuation of $1.6 billion in its U.S. listing, the company revealed in a filing on Monday.

The Denver, Colorado–based company plans to sell 11 million shares and would raise $319 million if priced at the top of its proposed $26 to $29 range. Yahoo Finance reports.

✈️ JetBlue not pursuing merger with United Airlines, says CEO: JetBlue Airways CEO Joanna Geraghty said on Monday the company's partnership with United Airlines would not lead to a merger between the two carriers.

The two companies last week announced a collaboration that allows travelers to book flights on both carriers' websites, while interchangeably earning and using points in their frequent flyer programs. Yahoo Finance reports.

📱 Digital banking startup Chime targets $9.5 billion valuation in US IPO: Digital banking startup Chime Financial said on Monday it was targeting a valuation of up to $9.47 billion in its long-awaited New York initial public offering, in what would be the biggest U.S. listing since President Donald Trump's sweeping tariffs.

San Francisco, California-based Chime and some of its existing shareholders are seeking to raise up to $832 million by offering 32 million shares priced between $24 and $26 apiece. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $LYRA: Lyra Therapeutics

Total gain: +275.25%

2) $VERA: Vera Therapeutics

Total gain: +79.36%

3) $INM: InMed Pharmaceuticals

Total gain: +77.10%

4) $BMGL: Basel Medical Group

Total gain: +48.68%

5) $TIL: Instil Bio

Total gain: +41.92%

The closing price of the top three market percent gainers trading near or above $3 on May 30.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $BMGL: Basel Medical Group

Total gain: +493.36%

The stock appeared to be moving on no notable news.

2) $GITS: Global Interactive

Total gain: +153.68%

The stock appeared to be moving on no notable news.

3) $LVWR: LiveWire Group

Total gain: +59.23%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

SAIC: Science Applications International
1Q 2026

Before Market Open
Estimate: 2.120
Actual: N/A

CPB: Campbell Soup
3Q 2025

Before Market Open
Estimate: 0.660
Actual: N/A

CRDO: Credo Technology Group
4Q 2025

After Market Close
Estimate: 0.270
Actual: N/A

Time (ET) / Report / Period

9:45 am - S&P final U.S. manufacturing PMI - May

10:00 am - ISM manufacturing - May

10:00 am - Construction spending - April

"The great thing about the stock market is that it is there to serve you, not instruct you."

- Joel Greenblatt

Sourced in:
“You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of
Stock Market Profits”, by Joel Greenblatt, published in 1997.