Overnight Headlines 3rd June 2026

Morning Pack – 3 June 2026

Market Comment: Risk sentiment remains constructive despite renewed Middle East tension and fresh US tariff proposals. Asia is broadly firmer, led by Japan and China, while Hong Kong underperforms. US equities closed higher, futures are little changed, oil is firmer and Treasury yields are edging up ahead of ADP, ISM Services and the Fed Beige Book.

Asia Markets

Index	Level	Change
Nikkei 225	68,727	+2.99%
Shanghai Composite	4,098	+0.56%
Shenzhen Composite	15,951	+2.31%
Hang Seng	25,600	-1.68%
ASX 200	8,798	+0.84%
Kospi	8,801	+0.15%
Singapore STI	5,133	+0.70%
NZX 50	13,125	-0.35%

Top Headlines

• US proposes fresh tariffs on 60 economies over forced labour trade practices
• Warsh set to revamp Federal Reserve signalling to Wall Street
• China makes it harder for retail investors to access US stocks
• US and Iran trade fresh strikes as ceasefire strains
• SpaceX reportedly seeks $75bn IPO valuation at $135 per share
• Iran peace deal would not derail case for ECB rate rise
• America’s data centre build-out falls behind schedule
• Stocks extend record rally on AI; yen nears 160

US Market Close

Index	Close	Change
Dow Jones	51,307.79	+0.45%
S&P 500	7,609.78	+0.13%
Nasdaq	27,093.90	+0.03%
Russell 2000	2,931.96	+0.90%
VIX	15.77	-1.74%

US Futures

Future	Level	Change
Dow Futures	51,374	-0.05%
S&P Futures	7,625	+0.02%
Nasdaq Futures	30,724	+0.04%
Russell 2000 Futures	2,932	-0.13%

Fixed Income

Bond	Yield	Move
US 2Y	4.06%	+0.9 bps
US 5Y	4.184%	+0.7 bps
US 10Y	4.461%	+0.6 bps
US 30Y	4.972%	+0.5 bps

Commodities

Commodity	Price	Change
WTI Crude	$95.09	+1.83%
Brent Crude	$97.19	+1.29%
Gold	$4,471	-0.40%
Natural Gas	3.166	-0.03%
Heating Oil	3.7312	+0.88%
Uranium	85.90	Unchanged

FX

Pair	Level	Change
EUR/USD	1.1624	-0.06%
GBP/USD	1.3456	-0.07%
USD/JPY	159.86	-0.02%
USD/CNY	6.7671	+0.07%
USD/CAD	1.3848	+0.07%
USD/CHF	0.7882	+0.17%

Economic Calendar – GMT

Time	Event	Forecast	Previous
07:55	Germany Services PMI	47.8	46.9
08:00	Eurozone Composite PMI	47.5	48.8
08:00	Eurozone Services PMI	46.4	47.6
08:30	UK Composite PMI	48.5	52.6
08:30	UK Services PMI	47.9	52.7
09:50	ECB’s Elderson Speaks	—	—
12:15	US ADP Employment Change	116k	109k
13:00	Fed Vice Chair Barr Speaks	—	—
13:45	US Composite PMI	51.7	51.7
13:45	US Services PMI	50.9	51.0
14:00	Factory Orders MoM	4.6%	1.5%
14:00	ISM Non-Manufacturing Employment	48.0	48.0
14:00	ISM Non-Manufacturing PMI	53.7	53.6
14:00	ISM Prices Paid	70.7	70.0
14:30	Crude Oil Inventories	-3.327M	-2.794M
14:30	Cushing Crude Oil Inventories	—	-2.794M
18:00	Fed Beige Book	—	—

Summary: Strong Asia session, US equities holding near highs, oil bid on Middle East risk, yields slightly firmer and focus now shifts to ADP, ISM Services and the Beige Book.