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The U.S. labor market delivered a strong surprise with May payrolls jumping by 172,000, smashing expectations and reinforcing the resilience of the domestic economy.

Broadcom’s weak outlook triggered a chip-sector sell-off, and some analysts now see a potential buying opportunity in the decline.
JPMorgan upgraded Tesla from its sell view, marking a notable shift after maintaining a bearish stance for years.
Deutsche Bank argued that Robinhood’s prediction market could become a meaningful driver of upside for the stock.
Several major analyst calls this week focused on names like Nvidia, Apple, Tesla, Chipotle, Disney, and Robinhood.
JPMorgan said one struggling fast-casual restaurant stock is attractive on weakness and worth buying the dip.
A drug company working on an “EpiPen” for heart attacks may be undervalued because the market has not fully priced in its potential.
A confirmed screwworm case in Texas boosted shares of two biotech companies tied to the situation.
Analysts warned investors against getting swept up in “Musk Mania” around a possible SpaceX IPO, while Morningstar valued SpaceX at less than half the target implied by the offering.
Alphabet plans to sell $80 billion in stock to help finance its broader AI investment push.
Bitcoin’s weakest high-conviction holders are starting to sell as prices fall, even though some commentary suggests the downturn may still lead to a positive long-term outcome.

Hong Kong stocks fell as the Hang Seng Index dropped 291 points to slip back below the 25,000 level, with chipmakers SMIC and Hua Hong tumbling more than 7% each.

Hong Kong developers and property market data show continued activity: Redhill Phase 4 launched 264 units, and several new Hong Kong property projects reported pricing and sales updates.
Tencent continued its share repurchase program, spending about HK$500 million to buy back over 1.09 million shares.
Jollibee may split off its international business, and Hong Kong is being considered as a potential listing location.
Fears around cybersecurity and AI escalated after reports that Anthropic assisted the U.S. NSA in cyberattack deployment.
Macquarie turned cautious on Master Kong, cutting its rating and profit estimates while lowering the target price.
Foxconn posted strong May revenue growth of nearly 40%, marking a record high for the month.
UBS said China’s consumption recovery is uneven and likely “K-shaped,” with market expectations still too low for possible reflation.
Hong Kong’s property indicators moved higher on home prices but weaker on rents, suggesting mixed housing market conditions.
The Hong Kong government said it will not proceed with the proposed monthly cap on discounted two-dollar transit rides.
Hong Kong equities weakened sharply, with the Hang Seng Index losing 291 points and semiconductor shares leading the decline.

Japan’s stock market tumbled sharply, with the Nikkei falling as much as 1,600 points amid renewed caution over record highs and heavy selling in semiconductor shares.

The government plans to respond to economic and policy pressures without increasing the total amount of government bond issuance, while trying to maintain market confidence.
Japanese stocks fell sharply as investors sold semiconductor-related shares and grew cautious after recent record highs.
Foreign reserves may have dropped by as much as 5.6%, likely because of currency intervention, leaving them at about 209 trillion yen at the end of May.
The Tokyo market briefly fell more than 1,600 points and slipped below the 66,000-yen level, showing strong selling pressure and profit-taking.
The yen traded near 160 per dollar in Tokyo and New York, with global geopolitical developments influencing shifting “safe-haven” currency flows.
The government is considering lowering food-related taxes and supporting restaurants and farmers, worried that sales could decline.
PayPay is preparing to buy a T&D-affiliated life insurer for about 130 billion yen to broaden its insurance offerings.
Industrial and regional business topics included leather promotion events in Hyogo, plans for reactor replacements, and a possible merger among major electronics retailers.
Japan’s dairy production outlook for fiscal 2026 was raised by 50,000 tons, while rice prices continued to edge lower and car sales in China weakened for Toyota and Honda.
Across multiple sectors, companies and industry leaders highlighted long-term structural challenges such as labor shortages, sustainability, and technological workforce development.

Bitcoin’s drop below $60,000 is the dominant crypto market event, signaling broad risk-off pressure across major tokens amid strong U.S. jobs data and renewed concerns over crypto weakness.

BlackRock-backed Securitize has cleared an important step toward going public on the NYSE, signaling continued institutional interest in tokenization.
Dogecoin and Shiba Inu fell sharply as bitcoin approached the $60,000 level, showing broad weakness across memecoins.
U.S. lawmakers are reviewing crypto tax and market structure bills, including a proposal to ease rules for small crypto transactions.
Senator Alsobrooks said the Clarity Act cannot move forward in the Senate without an ethics agreement.
Bitcoin dropped below $60,000 and hit its weakest price since October 2024, reflecting a renewed crypto market selloff.
XRP slid toward $1.10 after liquidation pressure triggered a broad decline, sending it to multi-month lows.
The CoinDesk 20 index weakened as bitcoin fell 2.8%, confirming that major crypto assets were under pressure.
Strong U.S. job growth came in above expectations, increasing the likelihood of Federal Reserve rate hikes and adding pressure on risk assets.
Zcash bearish positions reached a record high as the token’s price collapsed, worsened by concerns over a security bug.
Recent live market updates show bitcoin falling to $60,000 amid strong employment data and the Zcash bug, keeping sentiment negative across crypto.

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