Welcome Back,

Nvidia enters $1t valuation club; debt ceiling talks progress…

Market Headlines 👀 

• Nvidia (NVDA) a becomes the first chipmaker and one of only nine stocks historically to surpass a $1t valuation.

• US Consumer Conference board comes in at 102.3; est 99.

• US student loan moratorium is suppose to restart as part of the debt ceiling deal being negotiated.

• Goldman Sachs (GS) is preparing its third round of layoffs within the investment banking division.

• JP Morgan (JPM) is set to layoff 500 employees this week.

• US debt ceiling talks continue with a proposed $80b cut in IRS spending.

• China has rebuffed a meeting between US and China defense chiefs.

• Boeing (BA) is looking to sell one hundred fifty 737 jets to Riyadh Air.

Earnings 💸

• Big Earnings day tomorrow!

S&P 500 Heap Map

Recap Around the Street 🧠

Reveals the scope and expectations of how one company will enjoy the bulk of the economics afforded by the AI opportunity.(Contributed by Benjamin Lavine, CIO at 3D/L Capital).

This is not entirely surprisingly as few are willing to vote for an extreme scenario unless such extremity is staring right at them. (Contributed by Benjamin Lavine, CIO at 3D/L Capital).

Market Preview 🎞️

• Wednesday, May 31st: MBA mortgage applications; US job openings

• Wednesday earnings: Crowdstrike (CRWD), Salesforce (CRM), Okta (OKTA), C3.AI (AI) and Chewy (CHWY)

• Thursday, June 1st: Jobless claims; ISM manufacturing

• Thursday earnings: Broadcom (AVGO), Lulu Lemon (LULU), Zscaler (ZS), MongoDB (MDB), SentinelOne (S) and Asana (ASAN)

• Friday, June 2nd: Unemployment report and non-farm payrolls

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That’s all for today, folks! We’ll be back around the same time tomorrow with a curated list of important news, economic data and market highlights. 

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