📈 All eyes on GME

Good morning.

The Fast Five → GameStop set to jump as 'Roaring Kitty' reveals $180M position, Nvidia announces next-Gen AI Platform for 2026, Key engines of consumer spending are losing steam all at once, penny stock trading boom prompts warnings of frothy markets, and homebuyers are starting to revolt over steep prices…

Calendar: (all times ET)

• TUE, 6/4: Job openings, 10:00a

• WED, 6/5: US trade deficit, 8:30a

• THU, 6/6: Initial jobless claims, 8:30a

• FRI, 6/7: Unemployment rate, 8:30a

Your 5-minute briefing for Monday, June 3:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks rose to end the week and month as inflation data came in as expected

  • All three major US indexes posted a sixth winning month in seven

  • The S&P and Nasdaq snapped five-week win streaks

  • The Dow had its best day YTD

EARNINGS

• What we're watching this week:

  • Tuesday: CrowdStrike

  • Wednesday: Victoria's Secret, lululemon, Dollar Tree

  • Thursday: DocuSign, Nio

• Full calendar here

NEWS BRIEFING

Nvidia Announces Next-Generation Rubin AI Platform for 2026

GameStop Set to Jump as 'Roaring Kitty' Post Reveals $180 Million Position

• Fed’s favored inflation gauge cools, spending unexpectedly drops (link)

• Key engines of consumer spending are losing steam all at once (link)

• Boom in penny stock trading prompts warnings of frothy markets (link)

• Homebuyers are starting to revolt over steep prices across US (link)

• Old-fashioned networking is back (link)

• Elon Musk and Jamie Dimon are making peace (link)

• Stock buybacks in May was the fifth-most ever (link)

• Corporate bond funds see seven-straight months of inflows, longest since 2019 (link)

• Vista Equity wrote off entire PluralSight equity, three years after $3.5B LBO (link)

• Facebook is attracting most young adults in three years (link)

• Tesla shareholder sues Musk for alleged $7.5B insider trading (link)

• Emirates president sees years for Boeing turnaround (link)

• OPEC+ agreed to extend production cuts in bid to boost oil prices (link)

• Fed-favorite PCE index rose 2.7% YoY in April (link)

• Wall Street trade failure rate rise in third day of faster settlement (link)

• TikTok pauses e-commerce push into Europe to focus on US (link)

• Carl Icahn built a sizable stake in Caesars Entertainment (link)

• Dr Pepper ties Pepsi as America's No. 2 soda (link)

CRYPTO

• Biden vetoed Congress' crypto bill overturning SEC guidance (link)

• The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing (link)

• Hong Kong says 11 crypto exchanges are closer to getting permits (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

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⬆️ On the move: These are the people to watch in finance in 2024.

🤖 WTF is AI? A non-technical guide to understand how and why today’s AI works.

🥊 Battle of influence: ‘Little Tech’ sets its sights on Washington.

DAILY SHARES

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