--- title: "SG Morning Brief | All Three Indexes Hit Records as Nvidia Launches PC Chip, HPE Surges 26% After Hours" type: "News" locale: "en" url: "https://longbridge.com/en/news/288343621.md" description: "US OvernightThe S&P 500 rose 0.26% to a record 7,599.96, the Nasdaq gained 0.42% to a record 27,086.81, and the Dow edged up 0.09% to a record 51,078.88 — all three posting new intraday and closing all-time highs to kick off June. Nvidia led the rally after CEO Jensen Huang unveiled a new AI-powered PC processor at the Computex Taipei conference, sending the stock up over 6%. Dell and HP gained 10% and 8% respectively on the spillover. ISM Manufacturing hit 54 in May (beating 53." datetime: "2026-06-02T00:57:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288343621.md) - [en](https://longbridge.com/en/news/288343621.md) - [zh-HK](https://longbridge.com/zh-HK/news/288343621.md) --- # SG Morning Brief | All Three Indexes Hit Records as Nvidia Launches PC Chip, HPE Surges 26% After Hours ## US Overnight The S&P 500 rose 0.26% to a record 7,599.96, the Nasdaq gained 0.42% to a record 27,086.81, and the Dow edged up 0.09% to a record 51,078.88 — all three posting new intraday and closing all-time highs to kick off June. Nvidia led the rally after CEO Jensen Huang unveiled a new AI-powered PC processor at the Computex Taipei conference, sending the stock up over 6%. Dell and HP gained 10% and 8% respectively on the spillover. ISM Manufacturing hit 54 in May (beating 53.2 est), the highest reading since May 2022 and the fifth straight month of expansion, driven by AI-related new orders. On the geopolitical front, the US bombed radar and drone sites in Iran after Tehran shot down an American drone, though Trump later said he had a "very productive call" with Netanyahu and that no troops would be heading into Beirut. Oil spiked intraday before retreating. ### Key Movers **Nvidia (NVDA) +6%** — Nvidia surged 6.25% after launching its new AI-powered PC processor at Computex Taipei, directly challenging Intel and Qualcomm in the laptop and desktop chip market. The announcement triggered a cascade across the AI complex: Dell gained over 10%, HP rose 8.5%, ARM jumped 16%, and Snowflake added 9.6% as software stocks posted their third straight day of gains. **Intel (INTC) -5% / Qualcomm (QCOM) -9%** — The two biggest losers from Nvidia's PC chip invasion. Qualcomm fell nearly 9% as its Snapdragon X Elite faces a formidable new competitor, while Intel dropped nearly 5% as Nvidia opens a second competitive front beyond the foundry battle. Both stocks had rallied sharply in recent weeks, making the reversal particularly painful. **After hours, HPE (HPE) +26%** — HPE closed at $47.00 (+9.2%) during the session, then surged as high as 40% in after-hours before settling at $59.21 (+25.98%) after issuing a rosy Q2 outlook and raising full-year guidance. It was HPE's biggest earnings beat since 2018, confirming that Dell's AI server boom is lifting the entire enterprise hardware sector. ## SGX Preview SGX reopens today after the Vesak Day holiday. The STI last closed at 5,070.55 on Friday May 29, near its all-time high of 5,092.68. DBS is near S$62.18 and UOB near S$37.91. Singapore investors have two sessions of US record-setting to digest: the Dow above 51K, Dell's AI server boom, Nvidia's PC chip launch, and HPE's 26% after-hours surge all set up a constructive backdrop. The key risk remains oil — the US-Iran situation is fluid and Brent is still above $90. ## Asia Pre-Market S&P 500 futures are down 0.2%, Nasdaq futures down 0.3%, and Dow futures down 0.2% as Tuesday pre-market takes a breather after Monday's records. The modest pullback suggests profit-taking rather than a change in sentiment. HPE's 26% surge should lift Asian tech hardware names at the open. Broadcom and CrowdStrike report Wednesday after the close, providing the next test for the AI infrastructure thesis. ## Today's US Earnings and Economic Calendar Event Time (ET) Time (SGT) JOLTS Job Openings (April) 10:00 AM 10:00 PM Company Timing No major SG-relevant earnings — Wednesday: Broadcom (AVGO) and CrowdStrike (CRWD) post-mkt, ADP Employment, ISM Services PMI. Friday: Nonfarm Payrolls. **Data Spotlight: JOLTS (Tonight)** — April job openings data will show whether labor demand is holding up or fading. March JOLTS showed 6.87 million openings with hiring improving. Fed Governor Waller flagged that three-month average payroll creation has slowed to just 48,000, so a weak JOLTS number would reinforce the labor softening narrative and potentially support rate cut expectations. ## One More Thing Nvidia just declared war on Intel's last stronghold. For decades, Intel owned the PC chip market the way Nvidia now owns the GPU market — an unchallenged monopoly. Jensen Huang's Computex launch changes that. If Nvidia's PC processor gains traction with OEMs the way its data center GPUs dominated the cloud, Intel's foundry-and-PC recovery story gets a lot harder to execute. Intel fell 4% on Monday; the real question is whether this is a one-day reaction or the beginning of a sustained re-rating. For Singapore investors, the broader signal is clear: the AI infrastructure buildout is expanding from data centers to PCs to enterprise software, and the winners keep winning. HPE's 26% after-hours surge on the back of Dell's 33% Friday gain tells you the theme has legs. The risk is concentration — five stocks now account for more than 30% of the S&P 500's market cap. That works until it doesn't. _This briefing is for informational purposes only and does not constitute investment advice._ ## Related News & Research - [Autobrains and Uber to Launch Agentic AI Robotaxi Program in Munich built on NVIDIA DRIVE Hyperion | UBER Stock News](https://longbridge.com/en/news/288219419.md) - [NVIDIA DSX Gives Infrastructure Builders the Playbook for AI Factories | NVDA Stock News](https://longbridge.com/en/news/288208032.md) - [AibleClaw Uses NVIDIA Cloud Functions to Bring Up to a 200X TCO Advantage to Long-Running Enterprise AI Agents](https://longbridge.com/en/news/288303246.md) - [NVIDIA Deepens Taiwan AI Hub With US$150b Bet And Investor Questions](https://longbridge.com/en/news/288154423.md) - ['Big Short' investor Michael Burry sounds the alarm on Nvidia stock and AI 'tokenmaxxing'](https://longbridge.com/en/news/287641118.md)