Momentum Movers

• $ASTS down 14% following a Blue Origin rocket explosion on Thursday. 
• $DELL up 32% after reporting strong financial results and guidance and receiving multiple analyst price target raises.
  $NOW up 14% as shares of software stocks traded higher as AI disruption fears eased after $SNOW reported robust earnings results and forward guidance. 
• $PLTR up 9% as AI defense stocks broadly gained on Friday. 
• $IBM up 12% after announcing plans to invest $10B over the next five years to advance its leadership position in Quantum. 
• $MU up 5% as shares of companies in the memory sector held recent gains.
• $CRWD up 9% amid cybersecurity sector strength as software fears around AI disruption eased. 
• $UMAC up 7% following recent reports that the Trump administration is in talks to fund companies in the drone industry to increase domestic production. 
• $MSFT up 5% amid news that the company is building a super app that combines coding, chat, and other Copilot AI tools. 
• $INTC down 5% on end-of-month sector rebalances. 

Sector Performance

Market News

• President Trump left a two-hour meeting on a possible deal with Iran without making an immediate decision.
• Elon Musk rejected a report that SpaceX had lowered IPO its valuation target to $1.8T. 

Upcoming Events 6/1/26

• ISM Manufacturing PMI (May)
• Construction Spending (Apr)
• Earnings: $SAIC, $CRDO, $HPE, $HIVE, $CANG