Stock Market Today: Futures Point Mostly Lower as Broadco…

The S&P 500 concluded its nine-session winning streak, with major stock market futures indicating a mostly lower opening. The Nasdaq 100 and S&P 500 futures declined by 1.1% and 0.4%, respectively, while Dow futures rose by 0.5%. Significant drops were noted for AI chipmaker Broadcom and cybersecurity firm Crowdstrike after disappointing quarterly results, with shares down 13% and 10% in premarket trading. Geopolitical tensions and sector concentration risks were discussed. SpaceX is preparing for its IPO, planning to sell over 555 million shares at $135 each, which could raise about $75 billion. Oil prices fell following a renewed ceasefire between Israel and Lebanon, while Bitcoin traded lower. The upcoming May jobs report is anticipated, expecting 80,000 new jobs.

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The S&P 500 saw its nine-session winning streak end yesterday. Adam Gray / Bloomberg via Getty Images

Stock futures pointed mostly lower Thursday, a day after major indexes ended their five-session streak of closing highs, as Broadcom and other AI chipmaker stocks sank.

Nasdaq 100 and S&P 500 futures were down 1.1% and 0.4%, respectively, while Dow Jones Industrial Average futures were 0.5% higher.

Yesterday, the blue-chip Dow, tech-heavy Nasdaq Composite, and benchmark S&P 500 finished down a respective 1.2%, 0.9%, and 0.7%, with Dow dropping more than 600 points and the S&P 500 snapping a nine-session winning streak.

Shares of AI chipmaker Broadcom ( AVGO) and cybersecurity firm Crowdstrike ( CRWD), which reported quarterly results after the bell yesterday, dropped a respective 13% and 10% in premarket trading. Other AI-tied stocks pulled back as well, including Marvell Technology ( MRVL), which sank 7%, and Super Micro Computer ( SMCI), which declined 6%.

"As markets simultaneously navigate geopolitical tensions, tariff restructuring, energy supply-chain realignment, and an expanding AI investment cycle, the risks associated with excessive concentration in any single sector or asset class are increasing," Bitunix analyst Dean Chen said in written commentary. "Ultimately, the assets most likely to outperform across market cycles will be those supported by sustainable cash flows, strong pricing power, and ample liquidity—not narrative-driven investments whose valuations rely primarily on investor enthusiasm."

Investors have been eagerly anticipating Elon Musk-led SpaceX's IPO, and got some further details late Wednesday. In a regulatory filing, the company said it expects to sell 555,555,555 shares, intended to trade using the symbol "SPCX"—at $135 apiece, raising about $75 billion. That would be the biggest raise of all time, and would point toward a valuation of about $1.75 trillion.

Oil prices, which had risen the first three days this week, fell after Israel and Lebanon announced they would renew their ceasefire agreement. West Texas Intermediate futures, the U.S. crude oil benchmark, were down 1.4% to near $94.65 a barrel in recent trading, while front-month contracts of Brent crude, the global benchmark, declined 1.6% to $96.25.

Bitcoin was trading around $62,800, down from overnight highs around $67,800 and its lowest level since February. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, was down 0.2% to 99.32.

The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, was at 4.48%, down from Wednesday's close of 4.50%. Gold futures advanced 0.7% to $4,495 an ounce.

Tomorrow, investors' attention will turn to the May jobs report. U.S. employers added 115,000 jobs in April, more than double the amount that economists had estimated, and economists expect employers added 80,000 positions in May.

June 04, 2026 06:38 AM EDT

Stock Futures Point Mostly Lower as Broadcom, Chip Stocks Weigh

FROM 17 minutes ago

Futures contracts connected to the Dow Jones Industrial Average pointed 0.5% higher.

DJIA futures - June 4, 2026

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S&P 500 futures were down 0.4%.

S&P 500 futures - June 4, 2026

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Nasdaq 100 futures dropped 1.1%.

Nasdaq 100 futures - June 4, 2026

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Stock Market Today: Futures Point Mostly Lower as Broadcom, Chip Stocks Weigh; Oil Declines as Israel, Lebanon Agree to Ceasefire

Stock Futures Point Mostly Lower as Broadcom, Chip Stocks Weigh

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