Crude gains on reports US/Iran talks are halted despite Trump’s denial – Newsquawk US Market Wrap
June 2, 2026- SNAPSHOT: Equities up, Treasuries flatten, Crude up, Dollar flat, Gold flat
- REAR VIEW: Fars reports talks between US and Iran have halted, but Trump says this is fake news; Above-expected JOLTS; Israel and Lebanon not yet able to reach agreement on ceasefire, but aim is for an agreement tomorrow; Fed’s Hammack said Fed may need to act soon if inflation trends do not cool; USD/JPY tests 160; EU headline inflation in line; STMicroelectronics and Microchip raised data center revenue guidance; GOOGL to raise $80bln for AI spending; NVDA CEO stated MRVL will be the next $1tln company; Stellar HPE earnings; US proposes 25% tariffs on Brazil
- COMING UP: Data: Global Final PMIs (May), Australian GDP (Q1), EU PPI (Apr), US ADP Employment Change (May), ISM Services PMI (May), Factory Orders (Apr) Events: Fed Beige Book Speakers: BoJ’s Ueda; ECB’s Elderson, Cipollone; Fed’s Goolsbee, Barr, Logan Supply: Australia, UK Earnings: Broadcom, CrowdStrike.
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