📊 Market Snapshot

Spot Gold XAUUSD: 4473.91 | +0.90%

  • Daily range: 4424.04 – 4484.00
  • Bounced ~$4 from the prior hour, holding above 4470. Safe-haven buying and profit-taking continue to offset each other.

WTI Crude: 96.418 | -1.52%

  • Daily range: 95.688 – 97.538
  • Selling pressure easing slightly from the prior hour’s low of 96.2, but still trading below the open. Bears in control.

🔥 Key News This Hour

📉 Nasdaq 100 futures extend losses to 1.3%, hit intraday low

  • S&P 500 futures down 0.4%, while Dow futures edge up 0.4%. Heavy selling in tech-heavy growth names as capital rotates into value.

💹 Multiple firms raise Broadcom (AVGO) price targets

  • Bernstein raises to $550, Oppenheimer to $535. Post-earnings selloff viewed as valuation digestion, not fundamental deterioration.

💹 Needham raises CrowdStrike (CRWD) target to $780

  • A dramatic 64% increase from prior $475 target, reflecting extreme optimism on the cybersecurity growth trajectory.

🛡️ Jefferies upgrades Raytheon (RTX) to Buy, target $220

  • Upgrade from Hold, reflecting continued conviction in the defense sector amid elevated geopolitical risk.

🇮🇱 Israel defense minister says current situation could pave way for Lebanon peace deal

  • Katz stated Lebanon developments may create conditions for a peace agreement, while simultaneously affirming IDF will remain in the southern “security zone.” Mixed signals—true ceasefire still hinges on US-Iran negotiations.

🇹🇭 Thailand sues Meta over Facebook fraud

  • Consumer protection agency accuses Facebook of enabling scammers to defraud the public, adding regulatory pressure on META.

🇸🇪 Riksbank governor: does not rule out future QE

  • Thedén says central bank should be patient before cutting to the lower bound but hasn’t excluded future quantitative easing, hinting at a potential restart of Nordic monetary easing.

🧭 Market Assessment

US equity futures show stark divergence—Nasdaq down 1.3% while the Dow inches higher, signaling a systematic de-risking of high-valuation tech and a potential style rotation in progress.

Multiple firms raising Broadcom targets post-earnings suggests Wall Street’s long-term AI infrastructure thesis remains intact; the selloff is valuation normalization, not a fundamental repricing.

Israel’s “peace path” rhetoric paired with continued military presence is primarily a domestic political maneuver—meaningful Lebanon ceasefire still depends on the broader US-Iran diplomatic track.

Global central banks resumed net gold purchases in April; combined with Kazuo Ueda’s hawkish pivot and a more assertive Fed, rising real rate expectations may cap gold’s upside despite continued physical demand.

⏰ Upcoming Key Data

  • Tonight: US EIA crude oil inventory update (if released)
  • Core event this week: Fed June FOMC meeting—market has drastically repriced rate cut expectations
  • Bank of Japan June rate hike virtually certain; watch the post-meeting statement for forward guidance cues