Morning Preview: June 05, 2026

Early Look

Friday, June 5, 2026

Action in overnight U.S. futures a mirror image of the previous night, with Nasdaq futures tumbling, down around 1% after Technology stocks lagged on Thursday before facing a ferocious comeback, while Dow futures are higher after closing at all-time highs yesterday ahead of key monthly jobs data later this morning. For weeks on end, every stock market dip, whether it be shallow/deep continues to be immediately bought, as weakness in technology shares Thursday (semiconductors specifically after lighter Broadcom (AVGO) AI rev guidance the night prior pressured the sector), gave investors a green light to buy, piling into recently weak S&P sectors as Financials (XLF) and Healthcare (XLV). The U.S. dollar declines while Treasury yields steady ahead of jobs data. In Asian markets, The Nikkei Index declined -882 points to 65,588, the Shanghai Index fell -30 points to 4,027, and the Hang Seng Index dropped -291 points to 24,961. In Europe, the German DAX is up 38 points to 24,983, while the FTSE 100 is up 38 points to 10,399. The S&P index looks to make it a remarkable 10^th straight week of gains, a feat not last seen since 1985. Monthly jobs data is due at 8:30 am et, trying to show further signs of an improved jobs market after better monthly JOLTs data this past Tuesday and better ADP private payroll data on Wednesday. Meanwhile, the fragile ceasefire between the US and Iran and reports of stalled negotiations continue to fuel uncertainty on Wall Street.

• The Dow Jones Industrial Average rose 874.86 points, or 1.73%, to 51,561.93
• The Nasdaq Composite slipped -23.02 points, or 0.09%, to 26,830.96
• The Russell 2000 Index advanced 41.81 points, or 1.45% to 2,935.33

• 8:30 AM ET                  Private Payrolls for May…est.85K (prior +123K)
• 8:30 AM ET                  Manufacturing Payrolls for May…est. 2K (prior -2K)
• 8:30 AM ET                  Unemployment rate for May…est. 4.3%
• 8:30 AM ET                  Average Hourly Earnings M/M and Y/Y for May…est. +0.3% (prior +0.2%)
• 1:00 PM ET                   Baker Hughes Weekly rig count data
• 3:00 PM ET                   Consumer Credit for April

• S&P Dow Jones Indices will keep its existing eligibility requirements for main benchmarks like the S&P 500 Index, rejecting proposals that would have made it faster for Mega-cap companies such as Elon Musk’s SpaceX to gain rapid entry into the Benchmark after going public. The index provider said it will not shorten the 12-month seasoning period for newly public companies it currently has or waive existing profitability and public-float requirements based on a company’s size, diverging from a broader industry shift embraced by rivals Nasdaq Inc. and FTSE Russell.
• The KOSPI plunged -5.5% on Friday, with Samsung Electronics falling -6.4% and SK Hynix collapsing -9.9%, as the global AI selloff triggered by Broadcom’s disappointing earnings forecast spread from Wall Street into Asia. Foreign investors sold ~$1.6 billion worth of Korean stocks in a single session, bringing this week’s total foreign outflows to more than $10 billion, while the Korean won weakened to its lowest level since March 2009.
• India’s March qtr GDP at 7.8% y/y vs. ests. 7.2%.

• Lululemon (LULU) Q1 revs $2.47B vs. est. $2.43B; guides Q2 revs $2.45B-$2.47B vs. est. $2.6B and EPS $1.76-$1.81 missing the $2.68 est.; guides FY26 revenue to be flat to decline 1%, down from its prior forecast of a 2% to 4% increase; sees year EPS $10.95-$11.15 vs. est. $12.27.
• Tesla (TSLA) upgraded to Neutral from Underweight at JPMorgan and raise tgt to $475 from $145 saying Tesla is at the forefront of physical AI and entering uncharted total addressable markets. The company has an unmatched advantage from its industrial level scale, vertical integration across all the hardware and software products it builds, and speed of technology development.
• Torrid Holdings (CURV) Q1 sales $245.8M (-7.6% YoY vs. $266.0M; beat $241.6M est.); gross profit $86.8M, gross margin 35.3% (vs. 38.1% YoY); EBIT $8.6M vs est $12.24Mm; EPS $0.00 diluted vs est $0.03; adj. EBITDA $17.6M vs est $23.64Mm, comp sales -1.7%; guides Q2 net sales $232M–$240M (vs. $245.4M est.) and adj. EBITDA $12M–$16M vs est $17.1Mm; affirms FY26 net sales view.
• Zumiez (ZUMZ) Q1 EPS loss (-$0.82) vs. est. loss (-$0.87); Q1 sales $193.3M vs. est. $191M; sees 2Q outlook for sales of $210M-$215M vs. est. $218.4M; Q1 operating loss of $15.2M; intends to open approximately 5 new stores all located in N.A, close roughly 26 stores, including 20 in N.A and 6 internationally.

• Being (BA): The German Federal Bureau of Aircraft Accident Investigation (BFU) has ‌begun an investigation into the Boeing ‌787 jetliner whose nose gear collapsed on Thursday at ​a gate at Frankfurt airport
• Concrete Pumping Holdings (BBCP) shares soar as Q2 revs $106.8Mm (+13.7% YoY beat $96.7Mm est.); gross profit $41.3Mm (+14% YoY vs. $36.2Mm), Q2 EBIT $12.1Mm (+46% YoY vs. $8.3Mm) vs est $9.099Mm; raises guides FY26 revs $410Mm–$425Mm from prior $390Mm–$410Mm) vs est $404Mm; raises FY26 adj. EBITDA $98Mm–$105Mm (from prior $90Mm–$100Mm) vs est $98.24Mm.
• QUANEX (NX) Q2 adj EPS $0.25 vs. est. $0.20; Q2 sales $462.4M vs. est. $459.3M; inflationary pressures from ongoing Middle East conflict led to unfavorable price vs cost dynamic, which pressured margins; Q2 adj Ebitda $44.2M and Ebitda margin of 9.6%.
• Plant Labs (PL) Q1 adj EPS loss/shr (-$0.03) vs est (-$0.04); Rev $94.2M vs est $90.0M (+42% YoY); Adj gross margin 56%; Adj EBITDA ($1.0M) vs est ($5.3Mm); RPO $816M (+81% YoY); guides Q2 Rev $102M–$107M vs est $101Mm; guides Q2 Adj gross margin 52%–55%; guides Q2 Adj EBITDA $0–$5M vs est ($0.11Mm); guides FY2027 Rev $425M–$441M vs est $431.5M; guides FY2027 Adj EBITDA $0–$10M vs est $6.982Mm.
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• Fulcrum Therapeutics (FULC) approves restructuring plan after discontinuing pociredir for sickle cell disease; said to reduce workforce by 85% from 57 to 9 employees, completion expected Q2 2026.

• Docusign (DOCU) Q1 adj EPS $1.09 vs est $0.99; Q1 revs $830.2M vs est $824.7M (+9% YoY); Adj gross margin 81.5%; Adj EBIT $265.6M; FCF $289.4M; guides Q2 Rev $865M–$869M; guides Q2 Adj gross margin 81.5%–81.7%; guides Q2 adj EBIT margin 29.7%–30.2%; guides FY2027 Rev $3.490B–$3.502B (raised); guides FY2027 ARR growth 8.25%–8.75%.
• Guidewire Software (GWRE) Q3 adj EPS $0.82 vs est $0.74; Q3 Rev $372.5M vs est $355.9M (+27% YoY); Q3 Subscription & support rev $244.7M (+35% YoY); License rev $56.0M (−2% YoY); Services rev $71.8M (+32% YoY); ARR $1.147B (+19% YoY); guides FY2026 Rev $1.460B–$1.470B vs est $1.44B (raised); guides FY2026 subscription & support rev $963M–$969M; guides FY2026 Adj EBIT $314M–$324M (raised) vs est $287.68Mm
• Rubrik Inc. (RBRK) Q1 adj EPS $0.16 vs. est. loss (-$0.03) and revs rose 39% y/y to $387.1M vs. est. $366.32M; Q1 subscription ARR rose 32% y/y to $1.57B and GAAP gross margin improved 2.2% to 80.5%; Q1 FCF more than doubled to $73.61M, lifting free cash flow margin to 19% from 12%; guided Q2 revs $395M-$397M vs. est. $382.3M and guided year revs to $1.638B-$1.648B from $1.597B-$1.607B prior (est. $1.61B).
• Samsara (IOT) Q1 adj EPS $0.17 vs est $0.13; Q1 Rev $478.8M vs est $455.2M (+31% YoY); Q1 ARR $1.991B (+30% YoY); net new ARR $100.7M (+30% YoY); Q1 Adj EBIT $91.0M vs est $68.51Mm; guides Q2 Rev $482M–$484M vs est $480.1M; guides Q2 Adj EPS $0.15–$0.16 vs est $0.15; guides FY2027 Rev $2.005B–$2.013B vs est $1.97B; guides FY2027 Adj EBIT margin 20%; guides FY2027 Adj EPS $0.70–$0.72 vs est $0.68.
• ServiceTitan (TTAN) Q1 EPS $0.37 vs. est. $0.28; Q1 revs $268.8M vs. est. $256.7M; Q1 operating loss (-$25.8M); said continue to execute on our core multi-year growth vectors, we’re delivering the Agentic Operating System to the Trades, and we’re improving our organizational velocity.