From Yahoo Finance: 2025-06-04 23:15:00

U.S. stocks dipped as investors awaited the U.S. job market update. The S&P 500 fell 0.5%, ending a four-day winning streak. The Dow Jones dropped 108 points, and the Nasdaq composite sank 0.8%. Options markets indicate a potential big move on Friday’s job report, with expectations of slower hiring.

Amid concerns of President Trump’s tariffs impacting hiring, more U.S. workers filed for unemployment benefits. Procter & Gamble plans to cut up to 7,000 jobs. Tesla’s stock tumbled 14.3% due to disagreements with Trump. Brown-Forman saw its worst day since 1972, while PVH’s stock fell 18% despite strong revenue.

Hopes rose for tariff reductions after Trump’s positive call with China’s Xi Jinping, easing trade tensions. Wall Street stayed cautious despite the development. MongoDB’s stock surged 12.8%, while Circle Internet Group saw a 168.5% jump in its first trading day. Five Below climbed 5.6% after reporting better-than-expected profit.

The S&P 500 closed at 5,939.30, the Dow Jones at 42,319.74, and the Nasdaq at 19,298.45. Treasury yields rose slightly to 4.40%. Expectations of a Federal Reserve rate cut later this year led to the rise. European markets were mixed, while South Korea’s Kospi jumped 1.5% after Lee Jae-myung took office.



Read more at Yahoo Finance: US stocks slip as Wall Street makes its final moves ahead of Friday’s jobs report