Daily News – 1st June ’26
Daily News
Kospi Hits Record as Trump Says No Hurry on Iran Deal; Nasdaq Gains 8% in May, Gold Holds Above $4,500
01 June 2026
Today in Brief
South Korea's Kospi jumped 1.31% to a fresh record high on Monday, while Asia-Pacific markets were mixed as investors monitored uncertainty around U.S.-Iran negotiations after President Trump said he was in "no hurry" to strike a deal. Japan's Nikkei 225 rose 0.17% and the Topix declined 0.3%; Australia's S&P/ASX 200 lost 0.21%. U.S. equities closed at record highs on Friday, with the Nasdaq settling up 0.2% at 26,972.62, the S&P 500 climbing 0.22% to 7,580.06, and the Dow rising 363.49 points (0.72%) to 51,032.46 — all three hitting fresh all-time intraday highs. Dell Technologies surged nearly 33% on its best day on record after a first-quarter beat and raised full-year guidance.
Gold steadied above $4,500 an ounce following a volatile week, as U.S.-Iran ceasefire talks showed limited progress. WTI crude climbed toward $90 per barrel, recovering part of last week's losses. Trump reiterated demands for Iran to halt its nuclear program and reopen the Strait of Hormuz. China's May manufacturing PMI eased to 51.8 but remained in expansion for a sixth straight month. Jerome Powell warned that politicising the Fed would cost public trust. Pentagon chief Pete Hegseth urged Asian allies to boost defence spending to counter China. Nvidia unveiled a new Arm-based N1X processor for PCs at Computex. Dell's AI server revenue surpassed its PC unit for the quarter. CrowdStrike stock hit an all-time high of $729.69.
South Korea stocks hit fresh high amid mixed regional trade despite Trump's Iran deal caution
South Korea stocks hit a fresh record high on Monday, bucking a mixed performance across Asia-Pacific markets as investors monitored lingering uncertainty around U.S.-Iran negotiations after President Donald Trump said he was in "no hurry" to strike a deal to end the conflict. South Korea's Kospi jumped 1.31%, while the small-cap Kosdaq was down 1.58%. Shares of Samsung Electronics rose more than 3% to hit an all-time high. Japan's Nikkei 225 rose 0.17%, while the Topix declined 0.3%. In Australia the S&P/ASX 200 lost 0.21%.
Stocks close at record highs with tech leading the way again. Nasdaq gains 8% in May
U.S. equities closed at record highs on Friday, while crude prices slipped, helping the major averages score a winning month, boosted by technology. The Nasdaq Composite settled up 0.2% at 26,972.62, while the S&P 500 climbed 0.22% to 7,580.06. The Dow Jones Industrial Average finished up 363.49 points, or 0.72%, at 51,032.46. All three indexes hit fresh all-time intraday highs earlier as well. Dell Technologies was a winner. Shares surged nearly 33%, seeing its best day on record, after the laptop maker reported a first-quarter beat on both the top and bottom lines and raised its full-year guidance.
Gold steadied above $4,500 an ounce on Monday following a volatile week
Gold steadied above $4,500 an ounce on Monday following a volatile week, as efforts to secure a longer-term ceasefire agreement between the US and Iran showed limited signs of progress. Over the weekend, Washington and Tehran exchanged proposals seeking amendments to a draft accord that would extend the ceasefire and reopen the Strait of Hormuz, though it remained uncertain whether the negotiations were moving closer to a resolution. President Donald Trump also reiterated his call for Iran to halt its nuclear program and fully restore the strait's status as an open international waterway. Gold has faced headwinds since late February as the Middle East conflict drove energy prices sharply higher, fuelling concerns about inflationary pressures and the prospect of interest rate hikes.
WTI crude futures climbed toward $90 per barrel on Monday, recovering part of last week's losses
WTI crude futures climbed toward $90 per barrel on Monday, recovering part of last week's losses as uncertainty continued to cloud prospects for a peace agreement between the US and Iran. Over the weekend, both sides exchanged proposals seeking revisions to a draft deal that would prolong the ceasefire and reopen the Strait of Hormuz, though it remained unclear whether meaningful progress had been achieved. President Donald Trump also reaffirmed his demand that Iran halt its nuclear program and fully restore the strait's status as an open international shipping route. Although oil prices recently posted a monthly decline amid expectations that Washington and Tehran could eventually reach a more durable agreement, they remain elevated compared with pre-conflict levels as the near-shutdown of Hormuz triggered an unprecedented disruption to global energy supplies.
U.S. and Iran still without deal to end war after Trump says he's not in a 'hurry'
The U.S. and Iran have yet to ink an agreement to end the war that has dragged on into its fourth month, with President Donald Trump saying Saturday that he is in "no hurry" to make a deal. Trump, in an interview with his daughter-in-law, Lara Trump, on Fox News, said that he is pressing for a deal that would ensure Iran never acquires a nuclear weapon. And while he said he would prefer that the pact is reached quickly, he is not rushing the process. The president also threatened further military action if negotiations break down. "I'd like to say I'm in a hurry because gasoline prices are going to come tumbling down, but if you're going to be in a hurry, you're not going to make a good deal," Trump said.
China May factory activity expands for sixth month as price pressures ease, private PMI shows
China's manufacturing sector expanded for a sixth straight month in May, although at a slower pace, as output and new orders remained solid and price pressures eased, a private survey showed on Monday. The RatingDog China General Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 51.8 in May from 52.2 in April, but was slightly above analysts' forecast of 51.6. The 50-mark separates growth from contraction. "Overall, the manufacturing sector sustained its expansion in May, albeit at a slower pace. The easing of inflationary pressures provided some relief to firms' cost and pricing environments," said Yao Yu, founder of RatingDog. The reading was better than an official survey published on Sunday showing factory activity stalled in May, dropping to 50 from 50.3 in April.
Fed's Powell warns that politicizing the Fed would cost public trust
U.S. Federal Reserve Governor Jerome Powell on Sunday warned about the impact of a politicized Fed and made a broader call for the defense of democratic institutions in his first public remarks since the end of his eight-year stint as head of the central bank. "Democratic institutions take much time, effort, and patience to build but can be torn down all too quickly," Powell said in remarks prepared for delivery as he accepted the John F. Kennedy Profile in Courage Award, given by the John F. Kennedy Library Foundation. "It is essential that we preserve what is good about these institutions, even as we strive to improve them," said Powell, who included the Fed along with the courts and universities as among the core institutions key to the country's success and standing in the world.
Pentagon chief sounds 'alarm' over China's buildup, urges allies to boost defence spend
U.S. Defence Secretary Pete Hegseth on Saturday urged Asian allies to ramp up military spending to counter China's growing power and prevent its dominance in the region, warning of "rightful alarm" over its rapid military buildup. Hegseth, speaking at the Shangri-La Dialogue in Singapore, Asia's premier forum for defence leaders, militaries and diplomats, said a stronger, more self-reliant network of allies is essential to deter aggression and preserve the balance of power. "There is rightful alarm regarding China's historic military buildup and the expansion of its military activities in the region and beyond," he said. "A Pacific dominated by any hegemon would unravel the regional balance of power," Hegseth said. "No state, including China, can impose its hegemony and hold the security or prosperity of our nation and our allies in question."
Software stocks rally broadly, with ServiceNow, Oracle, Palantir and Salesforce among leaders
Software stocks rallied during Friday's trading session, with major technology companies posting significant gains amid positive sentiment across the sector. ServiceNow shares jumped 10%, leading the advance among major software companies. Palantir Technologies stock rose 6%, while Microsoft shares gained 3%. The iShares Expanded Tech-Software Sector ETF climbed 2.4%, reflecting the broad-based nature of the rally. Other software and technology companies also participated in the upward movement. Oracle stock advanced 7%, while Palo Alto Networks shares rose 5.6%. Salesforce gained 4% during the session. The coordinated gains across multiple software companies and the sector-tracking ETF indicated widespread positive sentiment toward software stocks, though no specific catalyst was identified for the move.
Nvidia jumps into PCs with new Arm-based chip debuting in laptops from Microsoft, Dell, HP
Nvidia has emerged as the world's most valuable company by dominating the market for AI chips in the data center. Now the company is expanding its prowess to chips that will serve as the main processor for personal computers, entering an arena that's long been ruled by Intel, Advanced Micro Devices, Qualcomm and Apple. During a keynote address at Taiwan's Computex conference on Monday, Nvidia CEO Jensen Huang unveiled a new N1X processor made alongside Microsoft. It will be incorporated into a new RTX Spark superchip, debuting in the fall on a fresh line of Windows PCs from Microsoft, Dell, HP, ASUS, Lenovo and MSI. "Microsoft and Nvidia are going to reinvent the PC," Huang said. "This is the first completely re-engineered, reinvented line of PCs that has happened in 40 years." Nvidia's initial plan includes more than 30 laptops and 10 desktops with the new chip, a Nvidia spokesperson said.
Dell shares soar over 30% on Friday as AI server demand, price hikes power stellar quarter
Dell's shares surged 30% on Friday, as the PC maker's blockbuster results showed that its growing focus on AI servers was helping it capitalize on the data center boom, making the company one of the biggest beneficiaries of the new technology. The company, whose AI servers are crucial components in the global AI infrastructure build-out, is set to add $62 billion to its market value of about $206 billion, if gains hold. A household name in the PC market, Dell has in recent years scaled up its AI hardware business. Dell's AI server revenue of $16.1 billion surpassed its PC unit's $14.6 billion in sales in the quarter. The company's infrastructure solutions segment, home to both traditional and AI-optimized servers as well as other storage, software and networking solutions, has consistently eclipsed PC business revenue in the past four quarters.
CrowdStrike stock hits all-time high at 729.69
CrowdStrike Holdings Inc. has reached a significant milestone as its stock hit an all-time high of 729.69 USD, pushing the cybersecurity firm's market capitalization to $185.22 billion. This marks a notable achievement for the cybersecurity company, reflecting robust investor confidence and strong market performance. Over the past year, CrowdStrike's stock has experienced a remarkable 54.08% increase, underscoring its growth trajectory and resilience in a competitive sector.
