Tuesday, June 2nd, 2026
Pre-market futures are taking a breather on the major indexes this morning, all but the small-cap Russell 2000, which has popped its head into the green after lagging the past couple trading sessions. The Dow is -225 points at this hour, -0.44%, the S&P 500 -17 points, -0.23% and the Nasdaq -45, -0.15%. The Russell is +1 point, +0.05%.
AI Bull Run Seeing Richest Companies Borrowing to Buy More
We won’t call this a trend just yet, but following NVIDIA’s NVDA recent announcement that they are loaning companies the capital to buy their AI chips, this morning we see Alphabet GOOGL raising $80 billion to finance more AI investment. In terms of customer-facing companies successfully employing AI, Alphabet may have no competition here in the first half of 2026.
Half of this $80 billion will consist of at-the-market moves on Class A and C shares; $10 billion will come from private funding via Berkshire Hathaway BRK.B. The company said AI demand is exceeding its current available supply. Keep in mind, Alphabet is a $4.5 TRILLION company by market cap; that it feels it needs to go to debt markets to raise funds for AI is, let’s say, curious. It might be important to see if other tech giants follow suit.
Q1 Earnings Season Nearly Tapped: DG, VSCO Report
Ahead of today’s open, Dollar General DG reported mixed Q1 results. Earnings of $2.00 per share outpaced the Zacks consensus of $1.89, while revenues of $10.79 billion came in -0.33% below projections. However, the company raised full-year forecasts, and shares are up +5% on the news (after tumbling -17% year to date). For more on DG’s earnings, click here.
Here’s a blast from the past: Victoria’s Secret VSCO reported Q1 numbers this morning, posting earnings of $0.60 per share versus expectations of $0.29 — for a booming +108.7% positive surprise. Revenues of $1.56 billion in the quarter outperformed estimates by +2%. This is actually the 10th-straight earnings beat for the women’s intimates firm, and the company raised revenue guidance. For more on VSCO’s earnings, click here.
After today’s close, cybersecurity major Palo Alto Networks PANW is expected to report +1.28% gains on earnings year over year, and +28.58% on revenues. Ulta Beauty ULTA is anticipated to post +2.99% earnings growth on +9.28% in revenues, year over year. The cosmetic supply giant’s average earnings beat over the past four quarters is +11%.
JOLTS Numbers for April After the Open
At 10am ET, the latest Job Openings and Labor Turnover Survey (JOLTS) report comes out. Expectations are for job openings to remain in line with the prior month, around 6.9 million. (The near-term low was 6.55 million in December of 2025, and the high was 7.31 million in May of last year.) Last time around, a big drop in Professional/Business Services jobs (-318K year over year) was key; of the four main regions, only the Northeast saw job gains in March.
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