The S&P 500 is holding near 7,617 in early trading on 3 June 2026 — just above the index’s first-ever close above 7,600, recorded on 2 June. The S&P 500 has extended its winning streak to nine consecutive weeks, its longest run since 2023, according to market reports.^[1][2][9] Three catalysts sit on today’s calendar: ADP employment data, ISM Non-Manufacturing Purchasing Managers’ Index (PMI), and Broadcom earnings after the close.^[4][5]

All SP500 prices are from the Vantage SP500 Cash CFD as of 08:43 UTC, 3 June 2026. Charts are indicative and from TradingView. This is not financial advice.

Key Points

• The Vantage SP500 Cash CFD is consolidating near 7,617 on 3 June 2026, just above the first-ever close above 7,600 recorded on 2 June, marking the S&P 500’s ninth consecutive weekly gain.^[2][9]
• Marvell Technology surged 33% in a single session on 2 June after Nvidia’s chief executive described it as a potential next trillion-dollar company, reflecting how heavily AI semiconductor names are driving SP500 performance.^[3]
• Three scheduled catalysts remain in today’s session, ADP employment data (consensus: ~116,000 jobs), ISM Non-Manufacturing PMI, and Broadcom Q2 earnings after the close, each capable of resetting the near-term SP500 chart picture.^[4][5]

SP500 Chart: What the 1-Minute Action Is Showing

The 1-minute SP500 chart shows a sharp dip to approximately 7,604 late in the 2 June 2026 session. The move coincided with reports of heightened Middle East tensions, Iran was reported to have suspended indirect peace negotiations, and a brief spike in oil prices.^[6] The Vantage SP500 Cash CFD recovered the full 20-point drop within approximately 30 minutes.

Through the Asian session on 3 June, the Vantage SP500 Cash CFD traded in a tight 7,615 to 7,622 band. The intraday high at 7,625.51 was rejected twice. The dotted reference line near 7,617-7,618 attracted multiple chart touches and acted as the session pivot. Volume per the Vantage CFD feed thinned steadily, consistent with pre-data caution.

Daily context: the S&P 500 remains near record highs after nine consecutive weeks of gains — its longest winning streak since 2023, according to market reports.^[2][9]

What Is Driving SP500 Performance Right Now

Semiconductors and AI

Marvell Technology closed up 33% on 2 June 2026; Hewlett Packard Enterprise gained 19% on earnings strength; Nvidia had climbed more than 6% the session prior.^[3][8] Energy was the only other sector in positive territory on 1 June, semiconductors have been the dominant driver of recent index gains.^[8]

Middle East Conflict and Oil

Strait of Hormuz traffic remains restricted as of 3 June 2026 and WTI crude closed up 1.46% at $93.51 on 2 June.^[3][6] Reports of fresh Middle East developments, including Iran suspending indirect negotiations, have coincided with brief equity dips, each followed by a swift recovery. Headline risk stays present across every session.

Labour Market Data and the Fed

ADP May data (consensus: ~116,000 jobs, prior: 109,000) is the first of three labour prints this week, before Friday’s NFP (consensus: 95,000-105,000 jobs, unemployment rate 4.3%).^[4][7] With the Fed weighing inflation risk heavily, a strong reading is more likely to reinforce ‘no cuts in 2026’ pricing.

SP500 Key Levels — 3 June 2026

Table 1: Vantage SP500 Cash CFD reference levels as of 08:43 UTC, 3 June 2026. Source: TradingView. Indicative only.

What to Watch Today

• ADP Employment Change, 3 June 2026, 08:15 ET: Consensus ~116,000 private-sector jobs. The prior reading was 109,000 in April.^[4]
• ISM Non-Manufacturing PMI, 3 June 2026, 10:00 ET: Services health check. The May ISM Manufacturing PMI hit 54, a four-year high, setting a constructive tone.^[8]
• Broadcom Q2 FY2026 Earnings, 3 June 2026, after market close: Broadcom guided for ~$10.7 billion in AI semiconductor revenue for Q2, implying ~140% year-over-year growth.^[5] Widely regarded as a barometer for the AI chip market, a guide raise could extend the semiconductor-led SP500 rally.
• Non-Farm Payrolls, 5 June 2026, 08:30 ET: The week’s headline macro event. Consensus: 95,000-105,000 jobs, unemployment rate 4.3%.^[7]

On risk management: the Vantage SP500 Cash CFD moved approximately 20 points on a geopolitical headline on 2 June before recovering fully in around 30 minutes. That kind of intraday compression makes standard range assumptions less reliable. Stop Loss placement relative to the 7,604 session low and the 7,625 intraday high offers a structured reference ahead of today’s catalysts.

Leverage works in both directions. With ADP, ISM PMI, and Broadcom earnings all in today’s session, reviewing position sizing relative to account equity before each release is a practical consideration.

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References

[1] “Dow jumps more than 200 points, S&P 500 posts first close above 7,600 — CNBC” https://www.cnbc.com/2026/06/01/stock-market-today-live-updates.html Accessed on 3 June 2026.

[2] “Stock Market Today (June 2, 2026): S&P 500 finishes above 7,600 for the first time as chip boom continues — TheStreet” https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-june-02-2026 Accessed on 3 June 2026.

[3] “Stock Market Today, June 2: Chipmakers Drive S&P 500 to Another Record Close — The Motley Fool” https://www.fool.com/coverage/stock-market-today/2026/06/02/stock-market-today-june-2-chipmakers-drive-s-and-p-500-to-another-record-close/ Accessed on 3 June 2026.

[4] “ADP employment, ISM services PMI and oil inventories due Wednesday — Investing.com” https://in.investing.com/news/stock-market-news/adp-employment-ism-services-pmi-and-oil-inventories-due-wednesday-93CH-5437351 Accessed on 3 June 2026.

[5] “Broadcom Reports Earnings June 3. Time to Buy? — The Motley Fool” https://www.fool.com/investing/2026/05/31/broadcom-reports-earnings-june-3-time-to-buy/ Accessed on 3 June 2026.

[6] “S&P 500, Nasdaq, Dow Futures Ease After Another Record Close as AI Momentum Cushions Iran Strikes — Yahoo Finance” https://finance.yahoo.com/markets/stocks/articles/p-500-nasdaq-dow-futures-014105049.html Accessed on 3 June 2026.

[7] “Weekly Trader’s Stock Market Outlook — Charles Schwab” https://www.schwab.com/learn/story/weekly-traders-outlook Accessed on 3 June 2026.

[8] “S&P 500 closes at a record to kick off June trading as tech rally overpowers oil spike — CNBC” https://www.cnbc.com/2026/05/31/stock-market-today-live-updates.html Accessed on 3 June 2026.

[9] “S&P 500 good for ninth consecutive week of gains after Memorial Day holiday reprieve — TheStreet” https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-may-29-2026 Accessed on 3 June 2026.