Daily Summary: The Two Faces of AI – Market Fuel and Costly Burden

📈 Stock Market – Market Situation and Tech Sector

• The Wall Street session opened with modest declines due to a waiting phase regarding developments in the Middle East; however, shortly before 8:00 PM, U.S. indexes are gaining some value.

• Confusion prevails in the markets regarding peace talks – Iranian media reported a halt in communication exchanges with the U.S. due to Israeli military actions in Lebanon and the threat of a blockade of the Strait of Hormuz, while President Donald Trump and Secretary of State Marco Rubio assured that talks are still progressing rapidly and a deal covering Iran's nuclear program is possible.

• In recent minutes, a post by Donald Trump appeared on Truth Social, stating that "it is untrue that the United States and Iran have broken contact."

• Alphabet (Google) announced a massive plan to raise $80 billion for AI infrastructure development (including $10 billion from Warren Buffett’s Berkshire Hathaway fund), but the company's shares fell by about 2.4%, which investors interpreted as proof of the immense costs of the AI "arms race."

• Shares of Marvell Technology surged by nearly 30% after Nvidia CEO Jensen Huang suggested that Marvell could be the next company valued at one trillion dollars.

• Hewlett Packard Enterprise (HPE) reported record quarterly results driven by demand for AI data center servers, sending its stock price up by over 21%.

• Anthropic, the creator of the Claude bot, filed a confidential initial public offering (IPO) application, outpacing rival OpenAI in this step.

• Positive sentiment accompanied investors in Europe, where the vast majority of stock exchanges ended the day with solid gains: the British FTSE 100 rose by 0.3%, the French CAC 40 by 0.7%, the German DAX by 0.5%, and the Spanish IBEX 35 by 0.5%.

📊 Macroeconomics

• The JOLTS report from the U.S. labor market showed that the number of job openings in April stood at 7.618 million, which was significantly above market expectations (6.860 million), signaling a robust economy that could prompt the Federal Reserve (Fed) to maintain its hawkish policy (higher interest rates) longer to combat inflation.

• According to Eurostat's flash estimate from June 2, 2026, annual inflation in the Eurozone rose to 3.2% in May 2026, compared to 3.0% recorded in April.

• Within the Eurozone inflation structure for May 2026, energy recorded the highest annual increase at 10.9% (vs. 10.8% in April), services rose to 3.5% (vs. 3.0% in April), the growth rate for food, alcohol, and tobacco slowed to 2.0% (vs. 2.4% in April), and non-energy industrial goods saw a slight increase to 0.9% (vs. 0.8% in April).

• Geographically within the Eurozone, the highest annual inflation in May was recorded in Bulgaria (6.3%), Lithuania (5.1%), and Greece (5.0%), while the lowest price levels were observed in Malta (2.1%) and Germany (2.7%).

• On a monthly basis (May compared to April 2026), the overall price index in the Eurozone increased minimally by 0.1%.

💰 Commodities and Precious Metals

• Positive sentiment is supporting precious metals today – gold is up by about 0.3%, breaking past $4,500 per ounce, while silver is gaining 0.6% and testing the $76 level.

• Information chaos and mixed signals coming from the Middle East are causing a slight rebound in oil prices, resulting in Brent crude gaining over 1% and breaking above $96.

• The earlier price drop was a reaction to hopes of a limited de-escalation of tensions in Lebanon and statements from Donald Trump, who suggested that a deal with Iran could be reached within the next week.

• At the same time, the U.S. President admitted that complications had arisen in the talks, though he provided no specific details on the matter.

• The oil market remains highly sensitive to any communication regarding Iran, which cannot always be immediately verified.

• Importantly, even a complete and immediate de-escalation of the conflict does not eliminate the underlying supply risk that keeps commodity prices elevated; however, the market remains determined to price in scenarios of falling oil prices.

🪙 Cryptocurrencies

Negative sentiment is clearly visible in the cryptocurrency market, where Bitcoin is losing nearly 6%, dropping below $68,000, while Ethereum is down over 3%, testing the $1,900 level.