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Pre-Market Performance
U.S. equity futures are broadly higher, supported by easing energy-market stress and a strong overnight tone in global equities. Dow Jones futures are up 383 points, or 0.75%, at 51,630; S&P 500 futures are up 48.5 points, or 0.65%, at 7,507.0; and Nasdaq 100 futures are up 184.0 points, or 0.62%, at 29,935.8.
- Europe: Major European benchmarks are higher — the FTSE 100 is up 109.12 points, or 1.06%, at 10,413.00; France’s CAC 40 is up 148.00 points, or 1.80%, at 8,348.79; and Germany’s DAX is up 381.55 points, or 1.58%, at 24,591.26.
- Energy: Crude prices are sharply lower as the geopolitical risk premium eases. WTI crude futures are around $84.25, down 3.94%, while Brent crude futures are near $87.11, down 3.62%.
- Metals and FX: Gold futures are higher at roughly $4,222.47, up 2.64%. The U.S. Dollar Index is slightly softer near 99.737, down 0.11%.
Hot News
- Oil slides as U.S.-Iran diplomacy reduces supply-risk premium: Oil extended losses after President Donald Trump called off planned strikes on Iran and said discussions had progressed toward a potential deal that could reopen the Strait of Hormuz, easing inflation concerns tied to energy costs and supporting equity sentiment.
- European equities rally as oil retreats: Major European markets are up more than 1% as lower crude prices lift cyclical and growth-sensitive areas of the market.
- U.S. futures build on Thursday’s broad rally: Wall Street is set for a higher open after strong cash-session gains, though earnings and index-rebalance news are driving sharp single-stock moves.
- SpaceX debut adds a major liquidity event to today’s session: SpaceX priced its IPO at $135 per share, selling about 555.56 million shares and raising $75 billion at an estimated valuation near $1.77 trillion. The stock is expected to begin trading on Nasdaq today under the ticker SPCX, drawing significant attention from growth and technology investors.
- Nasdaq-100 rebalance highlights AI, space and semiconductor infrastructure: Nasdaq announced additions — Astera Labs, CoreWeave, Nebius Group, Rocket Lab and Teradyne — ahead of the June quarterly rebalance, a move likely to boost trading volumes in the affected names as index funds reposition.
U.S. Stock Focus
- Adobe — Record Q2 results overshadowed by CFO departure: Adobe reported record fiscal Q2 revenue of $6.62 billion and adjusted EPS of $5.96, while raising full-year fiscal 2026 targets. Shares are under pressure pre-market after the company said CFO Dan Durn will leave on June 15, with Steven Day named interim CFO.
- RH — Guidance raised after better-than-expected Q1: RH reported Q1 revenue of $800.3 million and an adjusted loss of $1.97 per share, beating estimates and lifting its fiscal 2026 outlook for revenue growth and adjusted EBITDA margin, supporting pre-market gains.
- Lennar — Homebuilder posts lower Q2 earnings: Lennar reported fiscal Q2 net earnings of $305 million, or $1.24 per diluted share, down from the prior year; the stock is lower as investors weigh profitability against housing demand signals.
- SpaceX — Nasdaq debut begins after $75 billion IPO: SpaceX is expected to start trading under the ticker SPCX following its IPO, marking one of the largest U.S. listings and a major focus for market liquidity and tech investors.
- CoreWeave — Added to Nasdaq-100: The AI cloud infrastructure company is trading higher pre-market as index inclusion is expected to increase passive-fund demand and near-term volume.
- Rocket Lab — Nasdaq-100 inclusion lifts space-sector attention: The space launch and systems company drew investor interest ahead of its Nasdaq-100 addition, boosting visibility among large-cap growth and index-tracking portfolios.
- Astera Labs — Shares jump on Nasdaq-100 addition: Astera Labs advanced in extended trading after being named to the Nasdaq-100, highlighting investor focus on AI connectivity and semiconductor infrastructure.
- Marvell Technology — Dan Durn appointed CFO: Marvell named Adobe CFO Dan Durn as its new chief financial officer, effective June 15, and reaffirmed its Q2 fiscal 2027 outlook, keeping attention on its AI and data-infrastructure growth trajectory.
- Friedman Industries — Steel products company rallies after strong Q4: Friedman Industries reported Q4 net earnings of $9.2 million and sales of $191.8 million, with fiscal-year sales at $646.9 million and EBITDA rising to $34.3 million, prompting a surge in after-hours trading.
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