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Forex Signals June 3: Broadcom AVGO, CrowdStrike, and Macy’s Earnings Preview Wednesday
Today's significant earnings from Broadcom, CrowdStrike, and Macy's are expected to influence sentiment in the IT, cybersecurity, semiconductor, biotech, and retail industries.
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Last updated: Tuesday, June 2, 2026
Quick overview
- Broadcom, CrowdStrike, and Macy's earnings are anticipated to impact various sectors including IT, cybersecurity, and retail.
- The April JOLTS report revealed a rise in job openings, indicating strong labor demand and potentially easing pressure on the Fed regarding rate cuts.
- ECB's Olli Rehn suggested that any upcoming rate adjustments would be precautionary rather than indicative of a tightening cycle.
- US markets closed higher, with notable gains from Cisco and Caterpillar, while Alphabet faced pressure due to an $80 billion equity raise.
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MARKETS TREND
Today’s significant earnings from Broadcom, CrowdStrike, and Macy’s are expected to influence sentiment in the IT, cybersecurity, semiconductor, biotech, and retail industries.
Labor Market Strength (JOLTS Report)
The April JOLTS report surprised to the upside, with job openings rising to 7.62 million, the highest since May 2024 and well above expectations. The data points to resilient labor demand despite broader growth concerns. While hiring moderated, both openings and quits increased, suggesting continued worker confidence and a still-healthy employment backdrop. The report may ease immediate pressure on the Fed to cut rates, though a single data point does not confirm a trend shift.
ECB Policy Commentary
ECB policymaker Olli Rehn described a potential June rate move as an “insurance” adjustment rather than the start of a tightening cycle. He stressed anchored inflation expectations but framed any hike as precautionary. Markets may be overpricing follow-through in July, with policymakers likely to pause and reassess inflation, data flow, and geopolitical risks, including US–Iran developments.
Fed Hawkish Stance
Cleveland Fed President Beth Hammack maintained a cautious tone, supporting steady rates but warning that delayed action could entrench inflation. She highlighted persistent price pressures across the economy while noting labor markets remain near full employment, reinforcing her view that policy may still need to stay restrictive for longer.
Market Performance and Leadership
US indices ended higher, with the Dow up 0.45%, S&P 500 up 0.13%, and Nasdaq flat. Breadth in the Dow was mixed, with 14 gainers and 16 decliners.
Winners and Losers in the Dow
Cisco surged 5.50% and Caterpillar rose 5.16%, leading gains. Apple added 2.91%, IBM gained 2.75%, and Goldman Sachs rose 1.53%. On the downside, Nike fell 4.79%, while Microsoft and Salesforce each dropped 4.18%. Boeing declined 2.94% and Amazon slipped 1.83%.
Alphabet and AI Capital Pressure
Alphabet fell 3.86% after announcing an $80 billion equity raise, diluting shareholders by roughly 1.7%. The move underscores escalating AI-related capital requirements, with spending on chips, infrastructure, and talent accelerating across big tech. The deal structure includes private allocations and large public offerings, highlighting intensifying funding demands as AI competition expands and upcoming IPO pipelines add further pressure to investor capital.
Earnings Calendar Highlights Wednesday
Earnings this week are heavily concentrated in high-multiple tech and cyclical retail sectors. Cybersecurity leaders will test whether AI-driven demand is sustaining premium valuations or is just a bubble. Semiconductor results, especially from Broadcom, will act as a proxy for AI infrastructure strength. Retail earnings will offer insight into consumer resilience amid uneven global demand. Biotech remains a high-risk, sentiment-driven segment
Broadcom (AVGO) reports Q2 2026 earnings (AMC)
Closely watched for:
- Chip demand (especially custom silicon)
- VMware integration progress and enterprise software performance
- Data center revenue growth trends
- One of the most systemically important earnings this week due to AI exposure
🧬 Biotech Speculation & Volatility Watch
CrowdStrike (CRWD) reports Q1 2027 earnings (AMC)
Key themes:
- Continued strength in endpoint security demand
- Expansion of cloud-native security ecosystem
- ARR (annual recurring revenue) trajectory and retention rates
- High expectations already priced in after strong sector momentum
💾 Semiconductors & Infrastructure Demand
Macy’s (M) reports Q1 2026 earnings (BMO)
Key points to watch:
- Consumer spending trends and discretionary weakness
- Store performance and digital sales mix
- Inventory management and margin pressure
- Retail sentiment remains sensitive to macroeconomic signals
Gold Returns Above $4,500
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. In December, gold jumped above $4,380 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20o daily SMA (red) held as support this week and buyers returned and pushed XAU above the $4,800 and above the 100 SMA (green).
USD/JPY Rebounds
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Dives Below $70K
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SMA (purple) stands and rebounded above $76K but returned below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Under $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned n d pushed the price above $2K again.
ETH/USD – Weekly Chart
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ABOUT THE AUTHOR
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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