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June Kickoff: Jobs, Tech, and the Path Forward · The SPY Trader

• 0:00
  Good morning , everyone !
• 0:02
  I am Sunny Sideup , and you are listening to Spy Trader .
• 0:05
  It is 6 am on Sunday , May 31st , 2026 , out here on the Pacific coast .
• 0:12
  I hope you have your favorite morning beverage ready because we are heading into a brand new month , and the market is giving us a lot to think about .
• 0:19
  As we wrap up a rocky May where corporate earnings battled sticky inflation , we are entering the first week of June in what I like to call a state of cautious consolidation .
• 0:30
  This coming week , from June 1st to the 5th , is going to be all about the labor market and whether this AI trend is actually making companies money .
• 0:39
  The big event everyone is waiting for is the May Jobs Report coming out this Friday , June 5th .
• 0:46
  We are looking for that Goldilocks scenario where things aren't too hot or too cold .
• 0:52
  If we see job growth between 150,000 and 180,000 , we could see the SPDR S&P 500 ETF Trust , or SPY , trend upward .
• 1:04
  But if that number pops above 225,000 , people might get worried about high interest rates sticking around , which would be tough for the iShares 20 plus Year Treasury Bond ETF , also known as TLT .
• 1:19
  If you are feeling a bit nervous about that jobs data , you might want to look at the Vanguard Total Bond Market ETF , or BND , just to give yourself a little safety cushion .
• 1:30
  Moving over to technology , we are moving out of the hype phase and into what we call the execution phase .
• 1:36
  It is not just about talking about AI anymore ; it is about showing the receipts .
• 1:41
  The Computex 2026 conference starts this week in Taipei , so keep a close eye on NVIDIA and AMD .
• 1:50
  While everyone is watching the Invesco QQQ Trust , I would also suggest watching Microsoft .
• 1:56
  Their Copilot subscription renewals will tell us a lot about the health of software companies .
• 2:01
  If NVIDIA gets a bit too volatile after the conference , Apple could be a nice , stable place to park some cash .
• 2:09
  In the healthcare world , Eli Lilly and Novo Nordisk are still the stars of the show with their metabolic health treatments .
• 2:17
  There are some clinical trials regarding kidney disease being discussed next week that could really move the needle .
• 2:23
  If you want a bit of a safe haven , the Health Care Select Sector SPDR Fund , or XLV , is a great defensive play , especially if Monday’s manufacturing data looks a bit weak .
• 2:35
  Speaking of Monday , that is when we get the ISM Manufacturing PMI .
• 2:40
  If that shows the economy is contracting , we might see bond prices rise .
• 2:46
  Then on Wednesday , we get the ADP employment numbers , leading up to that big Friday Jobs Report .
• 2:52
  For those of you looking for a solid game plan , if you think the American consumer is still doing well despite the high cost of living , the Vanguard S&P 500 ETF , or VOO , is a fantastic core strategy because it is cheaper to own than SPY .
• 3:11
  If you are worried about the upcoming midterm elections or global tensions , gold is always a classic hedge , so check out SPDR Gold Shares , or GLD .
• 3:21
  And for my friends looking for some steady income , the iShares Core U.S.
• 3:25
  Aggregate Bond ETF , or AGG , is a smart way to capture some gains if those job numbers come in weak on Friday .
• 3:34
  One last tip : don't feel like you have to jump into everything Monday morning .
• 3:39
  It is usually better to wait for that manufacturing data at 10 AM Eastern before making your big moves .
• 3:46
  Stick with quality companies like Microsoft or broad funds like VOO .
• 3:51
  Thanks for joining me this morning !
• 3:53
  Let's have a great , safe week of trading .