June 2nd 2025

U.S. stocks started June on a steady note, with the S&P 500 gaining 0.41%, the Nasdaq up 0.67%, and the Dow inching higher by 0.08%. The Russell 2000 also posted a modest 0.10% rise. Markets found footing as Treasury yields cooled, helping ease recent pressure across equities.

Commodities led the charge, with silver, copper, and natural gas all surging—lifting material and mining stocks. Meanwhile, energy stocks lagged despite crude oil rallying over 3.5%, signaling mixed sentiment across the sector.

Top stock movers included:

• Applied Digital (APLD), up nearly +48.5% on surging volume and speculative interest.
• Cleveland-Cliffs (CLF), climbing +23.7% on strong metals momentum.
• Blueprint Medicines (BPMC), jumping +26% following positive drug trial results.

On the flip side, Regencell Bioscience (RGC) plunged -18.1%, and SAIC fell -13.3% after missing earnings expectations. Pony.ai (PONY) also declined sharply, possibly on regulatory risks.

In the options market, flow concentrated in SPY, QQQ, and NVDA, with bullish bets placed on near-term strikes. The VIX settled at 18.56, suggesting low concern over short-term volatility.

In crypto, Bitcoin drifted lower to around $104,522, down about 0.6%, while Ethereum ticked up to $2,536. Altcoins saw mixed action, with Lido’s stETH and WETH gaining, while others like Solana and Cardano declined.

Sectors in focus:

• Basic Materials outperformed thanks to bullish commodity prices.
• Energy underperformed despite oil strength, indicating rotation away from the space.

Looking ahead: Traders will be watching Tuesday’s factory orders, the JOLTS job openings report, and commentary from Federal Reserve speakers for further policy clues. Earnings from Nio, HPE, and others may also influence early June sentiment.