Bitcoin Slides and Investors Watch the Next Big IPO 6/3/26
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 3 June 2026
⏱️ 43 minutes
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| 0:00.0 | The bell's bringing an end to the training day at the NYSC Corps in Maine, ringing the bell. And at the NASAC, it's Goldman Sachs Asset Management. Welcome to closing bell overtime. We're live from studio be at the NASAC market site. I'm Melissa Lee along with Mike Santoli. Stocks lower costs aboard. The Dowdown down about 580 points, more than a percent loss there. The SB 500 down by 7 tenths of a percent or 55 points and the NASDAQ |
| 0:21.6 | composite down by nine tenths or percent breaking nine session winning streaks. And as |
| 0:25.6 | the momentum trade takes a breather, the brussel actually losing the most down 1.3 percent. |
| 0:30.6 | While the NASDAQ fell, chip stocks gained the SMH ETF up 1% on the day. A big test for chip |
| 0:37.3 | stocks in just a few minutes when Broadcom reports results. |
| 0:40.3 | This is a biggie. |
| 0:41.1 | $2.2 trillion in market cap. |
| 0:43.8 | That's bigger than Tesla or META. |
| 0:45.9 | But that's not the only name we are watching. |
| 0:47.8 | Crowdstrike up 65% in a month. |
| 0:50.1 | Five below also reporting lots of focus on the consumer, |
| 0:53.1 | particularly in the lower income range. |
| 0:55.6 | But as for the markets today, Mike, you know, semiconductors, new high in the socks. |
| 1:00.3 | Software was challenged. |
| 1:02.5 | And Invidia down appreciably. |
| 1:04.5 | So you have still this dynamic where sort of non-invideo chips seem to be pacing the advance. |
| 1:10.6 | We've known this for a while, right? One of the most historic two-month surges in semi-stocks just finished, going back to 2000. The NASDAQ 100 has, you know, an index is kind of profoundly overstretched relative to a trend. So you kind of know you have the makings for some kind of backing off. It's happening so far in a very benign way, at least for now, but the rest of the market looks fatigued. S&P 500 got above 7,500, like three weeks ago, and you're just a few points above where it was then. So maybe this is the kind of the easy way to get out of it, which is just by hanging around. And where do we see little glimmers of strength today? Health care and energy. |
| 1:45.3 | So sort of the beaten down areas of the market. |
| 1:47.0 | So maybe it's a little bit of a broadening aspect to what's going on today as well. At least for a day. Of course, yields up, oil up. Got to be on alert that they don't break containment. But so far, not quite. Let's head to Christina Parks Nevelas for a look at today's biggest market movers. |
| 2:01.8 | Christina. |
| 2:02.4 | Well, like you guys mentioned, it was a look at today's biggest market movers. |
| 2:01.8 | Christina. Well, like you guys mentioned, it was a rare down day for the market today. The S&P 500 |
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