Finance

Alphabet saw its stock price decline by approximately 3% to 4% after announcing a plan to raise $80 billion through a new stock sale to fund its expanding artificial intelligence infrastructure. This significant move by the Google parent company acted as a primary weight on the Nasdaq composite, which saw its record-setting rally tempered compared to other major indexes.

Uncertainty surrounding peace negotiations and the potential reopening of the Strait of Hormuz continues to exert pressure on global energy markets and investor sentiment. While reports of a potential agreement between the U.S. and Iran offered some optimism, ongoing strikes in the Middle East have kept crude oil prices elevated near $95 per barrel.

U.S. Treasury yields experienced a modest decline on June 2, 2026, with the 10-year note settling around 4.43% as markets recalibrated for a period of restrictive Federal Reserve policy. Current market pricing has effectively removed the probability of rate cuts for the remainder of 2026, driven by resilient labor data and manufacturing activity that surpassed analyst expectations.