Model routing is a fix for AI overspending. That's a problem for OpenAI and Anthropic

https://www.cnbc.com/2026/06/05/model-routing-on-ai-is-a-problem-for-openai-and-anthropic.html?__source=androidappshare

#USMarketUpdate
Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears | Reuters

SUMMARY
Indexes down: Dow 1.35%, S&P 2.64%, Nasdaq 4.18%
Semiconductors suffer biggest daily percentage drop since March 2020
S&P 500 snaps 9-week streak of Friday-to-Friday gains
US adds 172,000 jobs in May, double analyst expectations

NEW YORK, June 5 (Reuters) - Wall Street’s nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest daily decline since ​April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the U.S. Federal Reserve.

Selling was concentrated among chip stocks and ‌other technology favorites that have surged higher in recent weeks as the Nasdaq Composite Index (.IXIC), opens new tab and S&P 500 (.SPX), opens new tab rose repeatedly to fresh highs.



https://www.reuters.com/business/nasdaq-sp-futures-slip-semiconductors-drag-payrolls-focus-2026-06-05/

Wall Street ends sharply lower as chips slide, jobs data fuels rate hike fears
https://www.straitstimes.com/business/companies-markets/wall-street-ends-sharply-lower-as-chips-slide-jobs-data-fuels-rate-hike-fears

While You Were Sleeping: 5 stories you might have missed, June 6, 2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-june-6-2026

Wall Street's hottest trade is cracking in a trillion-dollar wipeout

Chip stocks turned a rough session on Friday into a rout, with the semiconductor complex suffering its worst drop since April 2025, erasing more than $1 trillion in market value as the AI trade buckled.

The damage was heavy, but it was not evenly distributed.

A Yahoo Finance screen of semiconductor stocks shows the group wiping out about $1.4 trillion in market value Friday, with the 10 biggest decliners accounting for $1.1 trillion of that hit.

https://finance.yahoo.com/markets/article/wall-streets-hottest-trade-is-cracking-184540547.html

Moon hotels, Mars cities: What Musk told Dimon about SpaceX's ambitions
https://finance.yahoo.com/markets/article/elon-musk-reveals-spacexs-goals-to-jamie-dimon-from-vacationing-on-the-moon-to-living-on-mars-194913923.html

Trump says his team will 'look into' US taking stake in AI companies
https://finance.yahoo.com/sectors/technology/articles/trump-says-team-look-u-182943171.html

#WeekAhead by Investopedia, Yahoo Finance and Reuters
#Calendar by Investing.com
#Earnings by Earnings Whisper
#USMarketUpdate by Reuters, Investopedia, CNBC and Yahoo Finance
#TradingDay #MarketMind by Reuters
#MarketsWrap by Bloomberg
#SgMarketUpdate by Business Times
#HKMarketUpdate by Reuters and Trading Economics

Morning Briefing: Top stories from The Straits Times on June 6, 2026

https://str.sg/6ZKc

https://youtube.com/shorts/-QZM7NqLDt4?si=0NK3t7M6hMhsd8pN

US-Iran Standoff Drags On as Conflict Nears 100-Day Mark
https://finance.yahoo.com/sectors/energy/articles/us-iran-stalemate-drags-conflict-182614190.html

California to decide soon whether it will seek to block Paramount deal
https://finance.yahoo.com/news/california-decide-soon-whether-seek-100602799.html

Netflix names longtime director Jay Hoag as chairman, succeeding Reed Hastings
https://finance.yahoo.com/markets/stocks/articles/netflix-names-longtime-director-jay-222411110.html

Marvell Technology and IPG Photonics Shares Are Falling, What You Need To Know
https://finance.yahoo.com/markets/stocks/articles/marvell-technology-ipg-photonics-shares-234414113.html

Marvell to join S&P 500 after AI boom helps chipmaker pass profitability test
https://finance.yahoo.com/markets/stocks/articles/marvell-join-p-500-ai-212422827.html

Marvell Technology and Flex Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600
https://finance.yahoo.com/markets/stocks/articles/marvell-technology-flex-set-join-232500291.html

Tech sell-off, Bitcoin drop test retail investor strength ahead of SpaceX IPO
https://www.businesstimes.com.sg/companies-markets/tech-sell-bitcoin-drop-test-retail-investor-strength-ahead-spacex-ipo

Japan spent billions to prop up the yen. Why is it still weak? https://www.businesstimes.com.sg/companies-markets/japan-spent-billions-prop-yen-why-it-still-weak?utm_source=web_share&utm_medium=referral&utm_campaign=article

TSMC CEO sends blunt message to memory chip rivals - TheStreet https://share.google/syjSblC8iSpktKPrj

#ColdFusion

https://youtu.be/DMvrPUxYP34?si=-wsz_RiHBwX1s14x

This week’s top reads from The Straits Times, June 6, 2026

https://str.sg/yQXx