US Stock Futures Drop. Islamic Republic of Iran Broadcasting (IRIB) Said a New Round of Attacks Targeting US Military Bases in Kuwait and Bahrain Has Begun

TradingKey - During the U.S. pre-market session on Thursday, June 4, the three major U.S. stock index futures diverged, with Nasdaq 100 futures leading the decline. Broadcom’s earnings report failed to meet high market expectations for AI chips, dragging down the semiconductor and AI infrastructure sectors. As of press time, Dow futures rose 0.79%, S&P 500 futures fell 0.4%, and Nasdaq 100 futures dropped 1.31%.

TradingKey - SanDisk SNDK at $1,784 inside ascending channel. RSI 58.80 neutral-bullish, no divergence. Q4 guided $7.75–8.25B, $42B backlog. Channel support $1,690. Target $1,859–1,921.

The primary drivers of this sharp decline include the U.S.-Iran conflict fueling inflation and suppressing rate-cut expectations, MicroStrategy’s first-ever coin sale, and collective sell-offs by spot ETFs and whales. However, mining rigs are currently approaching shutdown levels, while the RSI and sentiment index have entered extreme oversold and panic territory, suggesting the market has hit production costs. The 60,000 level is expected to provide strong support.

TradingKey - The latest conflict between the United States and Iran pushed up oil prices, ending a winning streak in the stock market. The Dow Jones Industrial Average fell 1.21%; the Nasdaq Composite Index fell 0.89%; and the S&P 500 Index fell 0.73%. The three major indexes had previously hit reco

TradingKey - On June 3 (ET), Broadcom (AVGO) shares fell more than 8% in after-hours trading following the release of its fiscal 2026 second-quarter earnings report. As of publication, the stock remained down 5.33% at $453.70. During the period, Broadcom’s revenue rose 48% year-over-year to a record high of $22.187 billion, though it missed the market expectation of $22.27 billion.