Stock Market Live June 2, 2026: S&P 500 (SPY) Slips After Testing Record Highs

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Take-Two Interactive Could Rally More Ahead of GTA 6

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After a substantial rally, Take-Two Interactive (NASDAQ: TTWO | GOOG Price Prediction) could rally even more ahead of its Grand Theft Auto VI release. Helping, analysts at Piper Sandler just initiated an overweight rating on the stock, with a price target of $280 a share.

Markets are red again.

At the moment, the S&P 500 is down 0.19%, or by 14 points. The SPDR S&P 500 (SPY) is down 0.18%, or by $1.37. The Dow is down 0.41%, or by 208 points. The Nasdaq is down by 0.1% or by 30 points. Oil is down $1.12 at $91.04. Bitcoin is down another $2,319.37 at $68,995.05.

Caution is necessary at record highs

Not only are the major indices technically and fundamentally stretched, but so is the Shiller P/E Ratio, which now sits at 42.78.  That is its second-highest point, since topping out at 44.19 in 1999 – right before the crash in 2000.

Unfortunately, investors are acting just like investors did before the major crashes of 1929, 2000, and 2008. And unfortunately, it’s only a matter of time before it happens again.

Between 1923 and 1929, the Dow Jones rallied about 300%.

Investors believed stocks could only go up. Speculation forced stocks to unbelievable highs with unjustifiable valuations. Then, it all fell apart. Then, between 1929 and 1932, the Dow Jones lost 86% of its value. Unfortunately, many weren’t prepared.

Around 2000, dot-com optimism sent the Dow Jones screaming higher to unjustifiable valuations. That fell apart, and we saw the Dow wiped out. Again, unfortunately, many weren’t prepared.  In 2008, rampant speculation sent the Dow Jones to a high of 14,038 on the heels of a housing boom. Americans were buying homes they couldn’t afford. Stocks were exploding on economic optimism and unjustifiable valuations.

Then it all fell apart. The Dow Jones would sink to 6,500.

Many weren’t prepared.

It’s happening again now. And again, many aren’t prepared. Instead of being unprepared for the drop, you may want to prepare by betting on volatility, with ETFs such as:

• ProShares Ultra VIX Short-Term Futures ETF (UVXY): The ETF was designed to match two times (2x) the daily performance of the S&P 500 VIX Short-Term Futures Index.
• iPath S&P 500 VIX Short-Term Futures (VXX): The VXX provides exposure to the S&P 500 VIX Short-Term Futures Index.
• ProShares VIX Short-Term Futures ETF (VIXY): ProShares VIX Short-Term Futures ETF provides long exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.

Market Movers:  Marvell Technology

At the moment, Marvell (NASDAQ: MRVL) is up by $40.57 at $260 after Nvidia’s Jensen Huang said the semiconductor giant could be the next trillion-dollar company.

“When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity,” Huang said, as quoted by CNBC. “That’s the reason why Marvel is so essential.”

Investors may also want to keep an eye on Alphabet (NASDAQ: GOOG), which is down about $10.80 in premarket trading. This followed news that GOOG will raise $80 billion from stock sales to help fund its AI buildout. As noted by Adam Crisafulli of Vital Knowledge, as quoted by CNBC, “If the greatest business model in the history of capitalism (in terms of scale, growth, margins, and cash flow) can’t fund AI from its own internal operations, then who possibly can?”

NVIDIA is also on the move after analysts at Dawa reiterated an outperform rating on the tech giant. As noted by the firm, “Our impression is positive as to the keynote and the GTC event overall. Nvidia remains in a very strong competitive situation,” as quoted by CNBC.