positive trend in Europe; Bitcoin drops below $70,000

14:20

Chip company stock Marvel Soared more than 20% in early Wall Street trading after Nvidia CEO Jensen Huang said at the Computex conference in Taipei that it was going to be the next trillion-dollar company. Its current value is about $192 billion. Reuters reported that earlier this year, Nvidia invested $2 billion in Marvell, as part of its efforts to make it easier for customers to use the smaller company’s customized artificial intelligence chips produces, in combination with the network equipment and central processors of Nvidia.

13:35

CNBC reports that inflation in the Eurozone rose to 3.2% in May, led by double-digit growth in energy prices. The figure, which was in line with forecasts in a Reuters poll of economists, is expected to set expectations for an interest rate hike at next week’s European Central Bank (ECB) meeting. Energy costs posted the highest annual inflation rate in May, with prices jumping 10.9% – a slight increase compared to the 10.8% growth in energy prices recorded in the Eurozone the previous month.

In the crypto market, Bitcoin falls by more than 4% and breaks below the $70,000 mark – a low of nearly two months for the currency. Coindesk reported that bitcoin-tracking hedge funds suffered the largest and longest streak of redemptions since their launch in January 2024, when investors withdrew $3.45 billion over 11 consecutive trading days.

Against the background of the declines, Strategy – the world’s largest corporate holder of Bitcoin – revealed yesterday that it sold 32 coins worth approximately $2.5 million, in favor of distributing a dividend to its preferred shareholders. Although the sale represented only a tiny portion of the company’s holdings, it marked its first bitcoin sale since December 2022, and came after months of chairman Michael Saylor leading a “buy and hold” approach.

11:40

Trading in Europe continues to be conducted with price increases. The DAX index rises by about 1%, the CAC advances by about 0.9% and the Potsi climbs by about 0.3%.

In the crypto market, Bitcoin weakens by about 4% and falls below the $70,000 mark – a low of nearly two months.

10:25

European stock markets open the day with price increases. The Frankfurt Stock Exchange climbs by about 1%, the Paris Stock Exchange also advances by about 1%, and the London Stock Exchange adds about 0.3% to its value. The indices are climbing ahead of the publication of the consumer price index for the month of May in the Eurozone, which will be published at 12:00 Israel time.

9:30

Asia

Asian stock markets are trading in a mixed trend this morning, against the background of Iran’s threat to abandon negotiations with the US and renewed uncertainty surrounding the contacts between the two. Despite the heightened tensions, during the night, Trump told the ABC network that he estimates that next week the US will reach an agreement with Iran to extend the ceasefire and open the Strait of Hormuz.

For now, the Tokyo Stock Exchange is down by about 0.4%, the Hong Kong Stock Exchange is climbing by about 1.8%, the Shanghai Stock Exchange is up by about 0.4% and the Seoul Stock Exchange is weakening by about 0.2%. At the same time, futures on Wall Street are down this morning by up to 0.3%.

After climbing by more than 4% yesterday, the morning prices are registering decreases of about 1% this morning. Brent crude is trading at $94 per barrel and US crude (WTI) is trading at $91 per barrel.

Wall Street

On Wall Street, after already doing so on Friday, technology stocks once again led the stock market to new all-time highs. The S&P 500 climbed about 0.3%, the Nasdaq added about 0.4% and the Dow Jones advanced about 0.1%.

Nvidia particularly concentrated interest and climbed during trading, after it launched a new AI chip for PCs, RTX Spark. Intel and-AMD other prominent players in the personal computer market, traded lower.

stock poor Jumped by about 10% after Morgan Stanley raised their recommendation on the stock, thus completing a jump of over 40% since last Friday. Goldman Sachs also revised its buy recommendation on the stock, and more than doubled its target price, amid higher forecasts and confidence in the company’s AI-driven growth horizon. “We reiterate our BUY recommendation and raise our 12-month target price to $500 (vs. $230 previously) following an increase in forecasts and increased confidence in Dell’s differentiated scale, business mix and long-term growth opportunities driven by Agentic AI demand,” said analyst Kathryn Murphy.

Similarly to Dell, another stock that recorded a huge jump overnight is the IT giant Hewlett Packard Enterprise after publishing financial results that shattered analysts’ expectations and provided an optimistic forecast for the future. The company reported an adjusted profit of 79 cents per share compared to an expectation of 53 cents and revenues of $10.68 billion compared to an expectation of $9.79 billion (40% growth compared to the corresponding quarter last year). Also in the case of HPE, the results were supported by a notable increase in the cloud and AI sectors.

The server maker raised its full-year earnings per share forecast sharply, and now expects earnings per share of $3.35-$3.45 for fiscal year 2026, compared to the previous forecast of $2.3-$2.5. The company said that it is now two years ahead of its long-term financial plan.

Katie Stockton, founder of Fairlead Strategies, commented on the AI rally on Wall Street, telling CNBC that “we’ve had nine straight weeks of gains in the S&P 500, and naturally that reflects positive momentum. Momentum is now positive in the short, medium and long term, and we’ve seen a series of ‘flag pattern’ breakouts – in fact, sharp spikes followed by stages Short rallies, which eventually break out to the upside. Unfortunately, that also means they tend to end dramatically, but we have no confirmed sell signals from our overbought and oversold indicators yet.”

The artificial intelligence company Anthropic, developer of the “Cloud” artificial intelligence model, took a significant step yesterday towards becoming a public company with the submission of a confidential prospectus to the US Securities and Exchange Commission. The move, which comes after the company completed a fundraising round at a market value of about $965 billion, was seen on Wall Street as a signal that the leading AI companies are ripe for a move to the public market.

Anthropic, which received huge investments from giants such as Amazon andGoogle joins a wider trend; The market estimates that OpenAI and SpaceX are also expected to act in a similar direction. If the three companies are issued, they may add trillions of dollars to the aggregate value of the leading indices on Wall Street, and reshape the map of global technology giants while making the enormous value created in recent years in the private market accessible to public investors as well.

The holding company Berkshire Hathaway announced last night that it will purchase the Taylor Morrison Home (Taylor Morrison Home), among the largest residential construction companies in the US, for $6.8 billion in a cash-only deal. As part of the deal, the company will pay $72.50 per share – a price that reflects a 24% premium compared to its closing price last Friday (May 29). Taylor Morrison’s stock is up over 20% in early trading on Wall Street.

This is one of the first giant transactions carried out by Berkshire Hathaway under the management of Greg Abel, who replaced Warren Buffett in the position of CEO at the beginning of the year. It will be recalled that the holding company has made very few purchases in recent years, and is currently sitting on a huge pile of cash that amounts to close to 400 billion dollars. The transaction is expected to be completed in the second half of the year.

Later in the day, another significant move by Berkshire was reported: a $10 billion investment in Alphabet, as part of an $80 billion capital raising move announced by the technology giant. The move signals Berkshire’s growing confidence in Alphabet’s position at the center of the AI ​​boom. At the same time, it provides an initial glimpse of new CEO Greg Abel’s capital allocation approach, and indicates that Warren Buffett’s successor is willing to invest huge sums in technology companies.