🗞 Newsmakers — 3PM ET, 2026-06-04

🔥 HOT SECTORS TODAY (the sectors to watch): Communication Services +3.11% Financial Services +1.23% Technology +0.84% Industrials +0.70%

📰 MARKET THEMES & CATALYSTS: • Fed Data Shows Consumer Divide Growing Wider The latest Beige Book from the Federal Reserve suggested that the consumer remains standing, but not on equal footing. While economic activity expanded in most Federal Reserve districts, the survey indicated that consumers are responding to the economy in fundamentally different… — pymnts.com · 06/04 12:08p https://www.pymnts.com/economy/2026/federal-reserve-data-shows-consumer-divide-growing-wider/ • Beware "Subdued" VIX & Stock "Feeding Frenzy" as Pullback Potential Looms @CharlesSchwab's Nathan Peterson explains the dynamics he sees around a "subdued" VIX as tech pulls back Thursday in reaction to Broadcom (AVGO) and CrowdStrike's (CRWD) earnings. He worries that markets are growing complacent around the U.S.-Iran War's impact on the economy. — youtube.com · 06/04 12:00p https://www.youtube.com/watch?v=n513LDJpPgs • How Warsh Could Sink Inflation And Stocks Liquidity, not earnings, is the primary driver of market movements, echoing Druckenmiller's thesis. Rising debt levels and shifting liquidity conditions raise the risk of a potential stock market crash. — seekingalpha.com · 06/04 11:59a https://seekingalpha.com/article/4912022-how-warsh-could-sink-inflation-and-stocks • Phoenix Is a Data-Center Mecca—and Test Case for How to Pay for AI's Power Needs The state's largest utility is proposing a 45% electricity-rate increase for data centers and a 14.5% hike for households. No one is happy. — wsj.com · 06/04 11:50a https://www.wsj.com/business/energy-oil/phoenix-is-a-data-center-meccaand-test-case-for-how-to-pay-for-ais-power-needs-c671056f • Canada says AI strategy will help create 250,000 jobs, boost GDP by 3% Canada unveiled a new artificial intelligence strategy on Thursday that it says will help create 250,000 jobs by 2031 and includes a new ​C$500 million ($360.05 million) tech fund to help homegrown AI ‌firms. — reuters.com · 06/04 11:24a https://www.reuters.com/business/world-at-work/canada-says-ai-strategy-will-help-create-250000-jobs-boost-gdp-by-3-2026-06-04/

🐘 BIG-CAP MOVERS ON NEWS (≥$10B — the MRVL-class catalysts):

1. OWL +7% $10.37 (16B cap) Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount KKR, APO, BX, OWL and BLK slide after Cliffwater's Corporate Lending Fund faces Q2 redemption requests equal to 17% of shares, exposing liquidity strains. — zacks.com · 06/04 10:01a https://www.zacks.com/stock/news/2932326/alternative-managers-shares-slip-as-cliffwater-redemption-fears-mount?cid=CS-STOCKNEWSAPI-FT-analyst_blog|industry_focus-2932326

2. SNAP +5% $6.04 (10B cap) Snap Inc. Receives Credit Rating Upgrade from S&P Global Ratings SANTA MONICA, Calif.--(BUSINESS WIRE)--Snap Inc. (NYSE: SNAP) today announced that S&P Global Ratings has upgraded the company's issuer credit rating to BB- from B+, with a positive outlook. S&P also upgraded its issue-level ratings on Snap's unsecured notes to BB- from B+. In i… — businesswire.com · 06/03 5:30p https://www.businesswire.com/news/home/20260603573034/en/Snap-Inc.-Receives-Credit-Rating-Upgrade-from-SP-Global-Ratings/

3. NU +4% $12.10 (59B cap) Nu Holdings Ltd. (NU) is Attracting Investor Attention: Here is What You Should Know Nu (NU) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. — zacks.com · 06/04 10:01a https://www.zacks.com/stock/news/2932131/nu-holdings-ltd-nu-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|most_searched_stocks-2932131

4. MRVL +3% $311.89 (273B cap) Marvell Technology, Inc. (MRVL) is Attracting Investor Attention: Here is What You Should Know Marvell (MRVL) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock. — zacks.com · 06/04 10:01a https://www.zacks.com/stock/news/2932119/marvell-technology-inc-mrvl-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|most_searched_stocks-2932119

5. XLF +3% $52.23 (50B cap) Bank Regulators Hope to Sell Congress on Deregulation Bank regulators in the United States are headed to Congress to tout the benefits of deregulation. Their argument is that scaling back banking rules and oversight will spark economic activity without creating more systemic financial risks, Reuters reported Thursday (June 4). — pymnts.com · 06/04 10:30a https://www.pymnts.com/bank-regulation/2026/bank-regulators-hope-sell-congress-deregulation/

📈 TOP 11 GAINERS (small/mid-cap % leaders, with catalyst):

1. EGG +27% $12.09 (338M cap) (no fresh news today — likely technical / low-coverage move)

2. LQDA +18% $65.68 (5.8B cap) Biotech ETFs: Which ETF Offers Lower Fees? IBBQ or XPH? Compare diversification strategies and see how each ETF's unique index focus shapes risk and return for healthcare sector investors. — fool.com · 06/04 11:16a https://www.fool.com/coverage/etfs/2026/06/04/biotech-etfs-which-etf-offers-lower-fees-ibbq-or-xph/

3. ALVO +18% $3.69 (1.2B cap) Alvotech announces resubmission of U.S. Biologics License Applications for AVT05, a proposed biosimilar to Simponi® and Simponi Aria®, and AVT06, a proposed biosimilar to Eylea® REYKJAVIK, Iceland, June 04, 2026 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO; ALVO-SDB), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the resubmission to the U.S. Food and Drug Admi… — globenewswire.com · 06/04 4:00a https://www.globenewswire.com/news-release/2026/06/04/3306550/0/en/Alvotech-announces-resubmission-of-U-S-Biologics-License-Applications-for-AVT05-a-proposed-biosimilar-to-Simponi-and-Simponi-Aria-and-AVT06-a-proposed-biosimilar-to-Eylea.html

4. ABSI +18% $6.98 (1.1B cap) (no fresh news today — likely technical / low-coverage move)

5. IOVA +17% $4.45 (1.6B cap) Iovance's Amtagvi® (lifileucel) Granted Approval for the Treatment of Advanced Melanoma in Australia First T cell therapy for a solid tumor cancer and first treatment option approved in Australia for advanced melanoma after anti-PD-1 and targeted therapy — globenewswire.com · 06/03 4:05p https://www.globenewswire.com/news-release/2026/06/03/3306385/0/en/Iovance-s-Amtagvi-lifileucel-Granted-Approval-for-the-Treatment-of-Advanced-Melanoma-in-Australia.html

6. BFLY +17% $5.15 (1.3B cap) (no fresh news today — likely technical / low-coverage move)

7. AGL +17% $96.68 (1.6B cap) These ETFs Owned Russell 2000's Biggest Winners Before They Soared 400%+ In 2026 Investors searching for the biggest stock winners of 2026 may be surprised to learn they already own some of them through small-cap ETFs. — benzinga.com · 06/03 2:54p https://www.benzinga.com/etfs/broad-u-s-equity-etfs/26/06/52984025/these-etfs-owned-russell-2000s-biggest-winners-before-they-soared-400-in-2026

8. ELTX +16% $14.57 (275M cap) (no fresh news today — likely technical / low-coverage move)

9. BTQ +15% $4.88 (685M cap) (no fresh news today — likely technical / low-coverage move)

10. GENB +15% $14.84 (1.9B cap) (no fresh news today — likely technical / low-coverage move)

11. OSCR +15% $23.52 (6.1B cap) (no fresh news today — likely technical / low-coverage move)

— auto-generated, alert-only (not investment advice). 'No fresh news' = likely a technical/low-float move, not a catalyst.