From Nasdaq: 2025-06-05 13:15:00

Stock indexes, including the S&P 500, Dow Jones, and Nasdaq, are down today due to concerns about the US labor market. Weekly jobless claims rose unexpectedly, but hopes for eased US-China trade tensions and a shrinking US trade deficit are positive factors for Q2 GDP. Expectations for Fed rate cuts are supportive for stocks.

Fed President Kashkari suggests keeping interest rates steady as the economy shows resilience. The chance of a rate cut at the next FOMC meeting is at 1%. The markets await fresh trade news and are focused on Friday’s nonfarm payroll report. Overseas stock markets are mixed, with European bond yields moving in different directions.

ECB President Lagarde notes downside risks to growth but sees potential for upward revisions. Swaps indicate a 42% chance of a rate cut at the ECB’s July meeting. In US stock movements, Brown-Forman, PVH Corp, and Ciena Corp are down, while chip makers like Micron Technology are up. Mining stocks climb as gold and silver prices rise.

Individual stock movements show Tesla and Costco down, while MongoDB and Five Below are up after positive earnings reports. Dollar Tree and Verint Systems also see gains. The earnings calendar for June 5 includes companies like Broadcom and Lululemon. The author of the article does not hold positions in any mentioned securities. The views expressed are solely informational.



Read more at Nasdaq: Stocks Erase Early Gains on US Labor Market Concerns