United States Baker Hughes US Oil Rig Count climbed from previous 410 to 415

TradingKey - Optical networking equipment maker Ciena (CIEN.US) delivered an impressive earnings report for the second quarter of fiscal 2026; however, the market "voted with its feet," sending the stock price down nearly 14%.

TradingKey — During the Asia trading session on June 5, the Korea Composite Stock Price Index (KOSPI) saw its decline rapidly widen to over 6%. The Korea Exchange triggered a circuit breaker mechanism for the KOSPI after KOSPI 200 futures fell by 5%, suspending program trading for five minutes.

Tradingkey - On June 4, a significant explosion involving Blue Origin failed to undermine its eligibility for core U.S. military launch bidding. The U.S. Space Force procurement arm stated that despite the "New Glenn" launch pad accident last week, Jeff Bezos's Blue Origin retains its certification for Phase 3 ("Lane 2") of the Pentagon’s National Security Space Launch (NSSL) program. The company will continue to compete against SpaceX and United Launch Alliance (ULA) for military launch contracts valued at tens of billions of dollars over the next five years.

TradingKey - During the U.S. pre-market session on Thursday, June 4, the three major U.S. stock index futures diverged, with Nasdaq 100 futures leading the decline. Broadcom’s earnings report failed to meet high market expectations for AI chips, dragging down the semiconductor and AI infrastructure sectors. As of press time, Dow futures rose 0.79%, S&P 500 futures fell 0.4%, and Nasdaq 100 futures dropped 1.31%.

The primary drivers of this sharp decline include the U.S.-Iran conflict fueling inflation and suppressing rate-cut expectations, MicroStrategy’s first-ever coin sale, and collective sell-offs by spot ETFs and whales. However, mining rigs are currently approaching shutdown levels, while the RSI and sentiment index have entered extreme oversold and panic territory, suggesting the market has hit production costs. The 60,000 level is expected to provide strong support.