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LivestreamMenuTraders work at the New York Stock Exchange on June 3, 2026.NYSE
S&P 500 futures fell on Wednesday night after the index snapped a nine-day win streak, as geopolitical fears remain elevated.
Futures tied to the broad market index fell by 0.5%, while Nasdaq 100 futures shed 0.6%. Dow Jones Industrial Average futures were trading marginally higher.
Shares of Broadcom traded 5% lower on Wednesday night after the chipmaker reported a fiscal second-quarter revenue miss. Cybersecurity stock CrowdStrike also fell 9% after guiding for lackluster second-quarter revenue guidance.
A pickup in U.S.-Iran tensions, and a subsequent move higher in oil prices and Treasury yields, weighed on stocks. The S&P 500 shed 0.74%, while the Nasdaq Composite fell 0.89%. The blue-chip Dow crumbed 620.72 points, or 1.21%.
Oil rose after attacks escalated between the U.S. and Iran. Iran struck Kuwait International Airport early Wednesday, while one day earlier U.S. Central Command said it had defeated multiple Iranian ballistic missiles and drones, and carried out “self-defense strikes” on Qeshm Island in the Persian Gulf. It said that this was in response to “attempted attacks” by Tehran.
The S&P 500 notched its ninth straight week of gains on Friday. But Keith Lerner, CIO and chief market strategist at Truist Wealth, noted that a sell-off is normal following such strong runs.
“I just think we’re due for a rest,” he said on CNBC’s “Closing Bell.” “We’ve come a long way. Fundamentals are solid. Bull market still deserves a benefit of the doubt, but often markets are two steps forward, one step back. We’ve had three steps forward, so maybe at least a mini step back, or at least some sideways chop.”
Ciena and Brown-Forman are set to report earnings before Thursday’s opening bell. Traders will also watch out for the first quarter’s unit labor costs and productivity final readings, as well as initial jobless claims for the week ending May 30.
— CNBC’s Kevin Brueninger contributed to this report.
16 Min Ago
Stocks making the biggest moves after the bell: Broadcom, CrowdStrike and more
These are the stocks moving the most in extended-hours trading:
- Broadcom — Shares fell 5% after the chipmaker reported fiscal second-quarter revenue of $22.19 billion, coming in below the $22.27 billion analysts polled by LSEG had expected.
- CrowdStrike — The cybersecurity stock fell 9% on lackluster second-quarter guidance.
- PVH — The Tommy Hilfiger and Calvin Klein parent tumbled more than 20% after it reiterated its full-year earnings guidance.
Read the full list of stocks moving here.
— Lisa Kailai Han
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Energy sector led stocks higher on Wednesday
Energy stocks were the clear winners from Wednesday’s session.
The sector added 1.38% on Wednesday, and was the best-performing of the 11 GICS sectors. The consumer staples and health care sectors followed, rising 0.77% and 0.69%, respectively.
The materials and real estate sectors also rose on Wednesday.
On the other hand, information technology stocks, down 1.52%, were the day’s laggards. Financials and consumer discretionary stocks followed, respectively shedding 1.21% and 1.07%.
— Lisa Kailai Han
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SpaceX IPO price a ‘watershed moment,’ says Dan Ives
SpaceX set its IPO prices at $135 per share, valuing the company at more than $1.75 trillion. Wedbush analyst Dan Ives called it a “watershed moment.”
“This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after,” he wrote to clients. “The proceeds of the IPO are expected for multiple business purposes including the expansion of its AI computing resources and SpaceX’s Starlink satellite network while fueling investments for technologies that have yet to be built including solar-powered data centers in space.”
— Fred Imbert
29 Min Ago
S&P 500 futures fall on Wednesday night
S&P 500 futures fell on Wednesday night.
Shortly after 6 p.m. ET, futures linked to the broad market index fell 0.4%. Nasdaq 100 futures shed 0.6%. On the other hand, Dow futures were trading marginally higher.
— Lisa Kailai Han
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