Swingfolio Daily
ASX briefings — Wednesday 3 June 2026
Morning setup and afternoon close recap for Wednesday 3 June 2026. Observations only — no trade advice.
Wednesday 3 June 2026
Wall Street records on a Marvell-led chip surge; ASX eyes Q1 GDP at 11:30, 3 June 2026
Wall Street set fresh records overnight as Marvell jumped 32.52% and HPE 19.47% on AI-chip earnings, lifting the S&P 500 to its first close above 7,600 and the Dow to a record. US futures point higher and the VIX sits at 15.77, though Microsoft's 4.17% slide on a new federal AI-model review order held the Nasdaq flat. Locally, Q1 GDP at 11:30 AEST is the focus, with consensus near +0.4% to +0.5% against +0.8% in Q4.
ASX 200 climbs 0.70% to 8,785.7 as uranium sweeps and miners lead
The S&P/ASX 200 closed up 0.70% at 8,785.7 on Wednesday 3 June, lifted by Materials, Energy and the big-four banks, with uranium small-caps (Paladin +11.48%, NexGen +9.37%) sweeping the leaderboard. The advance was top-heavy: decliners outnumbered advancers 126 to 107 as tech and consumer discretionary lagged, and Q1 GDP printed a soft 0.3%.