• Market recap: All 3 main indices closed at record highs yesterday, with the S&P 500 hitting 6 consecutive days of gains to close above 7,600 for the first time. The Dow touched 5 straight gains for the first time this year, but Bitcoin fell 2.3% to its lowest level since February. Sources: CNBC / CNBC.
• GameStop surges on earnings: GameStop (GME) reported a sharp increase in Q1 profit and announced a $2B share buyback program. Sales rose 14% to $835.3M, driven by growth in collectibles, with shares popping 11% premarket. Source: WSJ.
• SpaceX sets IPO price: SpaceX (SPCX) plans to price its IPO at $135 per share, seeking a record $75B raise and a $1.75T valuation. Though the offering could become the largest IPO ever, Morningstar (MORN) asserted that the company is worth less than half of its target valuation. Sources: Reuters / CNBC.
• GitLab cuts jobs: GitLab (GTLB) will cut 14% of its workforce and exit 22 countries as it pivots toward AI-focused software development. Despite revenue beating forecasts, shares plunged 7% premarket after falling 6% yesterday. Source: WSJ.
• Shake Shack slashes guidance: Shake Shack (SHAK) lowered Q2 revenue and same-store sales guidance, citing macro uncertainty, competition, and cost pressures. Shares fell 1.7% premarket after tumbling 8.4% yesterday. Source: WSJ.
• Macy's sees strong comp sales: Macy's (M) posted its strongest Q1 comparable sales growth in 4 years — up 3% — and raised full-year guidance. Shares gained 2.7% premarket. Source: CNBC.
• Ulta sags despite growth: Ulta Beauty (ULTA) reported Q1 revenue growth of 11%, up to $3.16B, with comparable sales up 5.3%. The growth was driven by strength across stores and e-commerce, but shares slumped 2.4% premarket. Source: WSJ.
• GM hit by strike: Nearly 1K workers at a key axle supplier for GM (GM) pickup trucks went on strike after contract talks failed. GM fell 1.2%, though the supplier, Dauch Corp. (DCH), rose 3%. Source: CNBC.
• Microsoft advances quantum chip: Microsoft (MSFT) said its Majorana 2 quantum chip is 1K times more reliable than its predecessor, targeting commercially useful quantum computing by 2029. Still, shares fell 4%. Source: BBC.
• Paint giant takeover bid ends: Sherwin-Williams (SHW) and Nippon Paint (TYO:4612) abandoned their proposed $14.5B buyout of AkzoNobel (VIE:AKZO), which now plans to merge with Axalta (AXTA). Sherwin-Williams rose 3% premarket, with Axalta up 1.5%. AkzoNobel plunged 19%. Source: WSJ.

• Britain curbs Google's AI use: Google (GOOGL) must let publishers opt out of AI Search features and AI model training under a U.K. ruling. The move strengthens publishers’ bargaining power and could reshape how AI platforms access online content. Source: The Verge.
• Dimon attacks crypto bill: JPMorgan (JPM) CEO Jamie Dimon said banks will fight crypto legislation in the Senate, arguing that it lets firms like Coinbase (COIN) offer yield-bearing products without bank-level safeguards or AML compliance. Source: Politico.
• CO tightens ride-share safety: Colorado enacted a law requiring enhanced background checks, optional ride recordings, safety training, and incident reporting for ride-share companies. Uber (UBER) fell 3% on the news, with Lyft (LYFT) down 5%. Source: NY Times.
• DOJ scraps slush fund: Amid bipartisan pushback, acting AG Todd Blanche said the Justice Department will abandon a proposed $1.8B fund for alleged victims of unfair prosecutions. A separate order curtailing IRS investigations of President Trump will remain in place. Source: NY Times.
• SCOTUS backs GOP-friendly map: The Supreme Court allowed Alabama to use a congressional map that carves out a Democratic-leaning district for the 2026 midterms. Source: WSJ.
• Trump signs limited AI order: President Trump signed an executive order creating a voluntary process for the government to review advanced AI models for national security risks before release. The order was watered down to placate the AI industry. Sources: AP / Politico.

• Job openings surge: U.S. job openings rose to 7.62M in April, the highest level in nearly 2 years. The uptick suggests resilient labor demand, though a decline in hiring and quits suggests a cautious job market. Source: CNN.
• Oil hits $99: Brent crude rose 3% to nearly $99 a barrel after renewed U.S.-Iran strikes and disruption in the Strait of Hormuz. Source: NY Times.
• Australian GDP growth slows: Australia’s economy grew 2.5% annually in Q1, missing forecasts as weak consumer demand and weather-related disruptions weighed on activity. Source: CNBC.

• Kuwaiti airport hit: Iran and the U.S. exchanged new strikes in the Persian Gulf, temporarily closing Kuwait’s airport after it was struck by drones. 1 person was killed in the attack. Source: NPR.
• Denmark forms coalition government: Denmark’s prime minister, Mette Frederiksen, secured a 3rd term after 69 days of coalition talks, forming a center-left minority government. Source: BBC.
• Maltese elections: Malta’s center-left Labour Party secured a record 4th consecutive election victory, extending PM Robert Abela’s mandate on the back of strong economic growth. Source: Reuters.

• U.S. proposes new global tariffs: The Trump administration has floated tariffs of 10-12.5% on imports from 60 economies, including the E.U., China, and India. The justification for the new levees is supposed forced-labor concerns. Source: Reuters.
• Primary results from 6 states: Republican Steve Hilton and Democrat Xavier Becerra look set to face off for California governor in the fall, while in Iowa, President Trump's endorsed candidate lost the GOP primary for governor. NJ, MT, SD, and NM also held primaries. Sources: NY Times / WSJ / AP.
• Pulte named national intelligence director: President Trump tapped Bill Pulte, who currently serves as Federal Housing Finance Agency Director, as acting director of national intelligence following Tulsi Gabbard’s resignation. Pulte lacks a traditional intelligence background. Source: CNN.
• Warsh taps Fed advisers: Fed Chair Kevin Warsh has appointed conservative policy veterans Paul Winfree and Daniel Heil as interim advisers. Winfree previously proposed numerous Fed reforms as part of Project 2025, a right-wing policy platform. Source: WSJ.

• 7:00 AM: MBA 30-Year Mortgage Rate
• 8:15 AM: ADP Employment Change
• 10:00 AM: ISM Services PMI
• 10:00 AM: Factory Orders MoM
• 10:30 AM: EIA Crude Oil & Gasoline Stocks Change
• Friday: Non-Farm Payrolls, Unemployment Rate

Palo Alto Networks (PANW) has released its quarterly earnings.

• Revenue of $3.00B (+31.15% YoY) beats by $58.51M.
• EPS of $0.85 (+6.25% YoY) beats by $0.13.
• Financials · As Reported · Metrics · Press Release

Medtronic (MDT) has released its quarterly earnings.

• Revenue of $9.81B (+9.86% YoY) beats by $183.37M.
• EPS of $1.50 (-7.41% YoY) misses by $0.05.
• Financials · As Reported · Metrics · Press Release

Ulta Beauty (ULTA) has released its quarterly earnings.

• Revenue of $3.16B (+11.08% YoY) beats by $56M.
• EPS of $7.74 (+15.52% YoY) beats by $0.85.
• Financials · As Reported · Metrics · Press Release

GameStop (GME) has released its quarterly earnings.

• Revenue of $835.30M (+14.05% YoY) beats by $68.67M.
• EPS of $0.30 (+76.47% YoY) beats by $0.19.
• Financials · As Reported · Metrics · Press Release

Macy's (M) has released its quarterly earnings.

• Revenue of $4.68B (+1.80% YoY) beats by $69.33M.
• EPS of $0.13 (-18.75% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

GitLab (GTLB) has released its quarterly earnings.

• Revenue of $264.16M (+23.15% YoY) beats by $9.76M.
• EPS of $0.23 (+35.29% YoY) beats by $0.08.
• Financials · As Reported · Metrics · Press Release

Ollie's Bargain Outlet Holdings (OLLI) has released its quarterly earnings.

• Revenue of $658.93M (+14.25% YoY) misses by $7M.
• EPS of $0.91 (+21.33% YoY) beats by $0.03.
• Financials · As Reported · Metrics · Press Release

THOR Industries (THO) has released its quarterly earnings.

• Revenue of $2.78B (-3.90% YoY) beats by $132.62M.
• EPS of $1.86 (-26.48% YoY) misses by $0.07.
• Financials · As Reported · Metrics · Press Release

MiniMed Group (MMED) has released its quarterly earnings.

• Revenue of $837M (+15.61% YoY) beats by $10.22M.
• EPS of -$0.68 misses by $0.46.
• Financials · As Reported · Metrics · Press Release

Broadcom (AVGO) will report today after close.

• Analysts estimate revenue of $22.10B (+47.30% YoY).
• EPS is estimated to be $2.32 (+46.84% YoY).
• Financials · As Reported · Metrics

PVH Corp. (PVH) will report today after close.

• Analysts estimate revenue of $2.00B (+0.78% YoY).
• EPS is estimated to be $1.81 (-21.30% YoY).
• Financials · As Reported · Metrics

CrowdStrike (CRWD) will report today after close.

• Analysts estimate revenue of $1.36B (+23.48% YoY).
• EPS is estimated to be $0.88 (+20.55% YoY).
• Financials · As Reported · Metrics

Ciena (CIEN) will report tomorrow before market open.

• Analysts estimate revenue of $1.50B (+33.31% YoY).
• EPS is estimated to be $1.40 (+233.33% YoY).
• Financials · As Reported · Metrics

The Toro Company (TTC) will report tomorrow before market open.

• Analysts estimate revenue of $1.39B (+5.68% YoY).
• EPS is estimated to be $1.50 (+5.63% YoY).
• Financials · As Reported · Metrics

lululemon athletica inc. (LULU) will report tomorrow after market close.

• Analysts estimate revenue of $2.44B (+2.72% YoY).
• EPS is estimated to be $1.68 (-35.38% YoY).
• Financials · As Reported · Metrics

Casey's General Stores (CASY) will report Tuesday.

• Analysts estimate revenue of $4.28B (+7.29% YoY).
• EPS is estimated to be $3.33 (+26.62% YoY).
• Financials · As Reported · Metrics

• Confirmed today: Applied Aerospace & Defense, Inc. (AADX), an aerospace and defense equipment manufacturer with $522.09M in TTM revenue and 24.8% revenue growth YoY.
• Estimated Thursday, June 4: INNIO N.V. (INIO), a gas engine manufacturer with $2.81B in TTM revenue and 22.1% revenue growth YoY.
• Estimated Thursday, June 4: Quantinuum Inc. (QNT), a quantum computing company with $17.08M in TTM revenue and 34.6% revenue growth YoY.
• Estimated Thursday, June 4: Safepoint Holdings, Inc. (SFPT), a property insurance underwriter focused on coastal areas with $571.90M in TTM revenue and 96.9% revenue growth YoY.
• Estimated Thursday, June 4: Liftoff Mobile, Inc. (LFTO), a mobile app marketing provider with $633.77M in TTM revenue and 9.6% revenue growth YoY.
• Estimated Thursday, June 4: Sunshine Silver Mining & Refining Company (SSMR), a development-stage mining company with $460,603 in TTM revenue and 421.8% revenue growth YoY.
• Estimated Friday, June 5: WhiteHawk Minerals Corp. (WHK), a natural gas mineral and royalty firm with $67.60M in TTM revenue and $615.3% revenue growth YoY.