From Nasdaq: 2025-06-03 18:19:00

Stock indexes closed higher on Tuesday, with the S&P 500, Dow Jones, and Nasdaq 100 all posting gains. Chip makers led the rally, boosting technology stocks. Positive signs in the US labor market were supported by an unexpected increase in Apr JOLTS job openings.

The OECD cut its 2025 global GDP forecast to +2.9%, citing trade barriers and uncertainty. US Apr factory orders fell -3.7% m/m, the largest decline in 15 months. Trade tensions between the US and China continue to weigh on markets after new restrictions were imposed.

The Eurozone May CPI report eased to +1.9% y/y, better than expected. The Eurozone Apr unemployment rate matched a record low of 6.2%. Swaps indicate a 97% chance of a -25 bp rate cut by the ECB. Overseas markets settled mixed.

Strength in chip stocks drove gains in US markets, with ON Semiconductor and Microchip Technology leading the Nasdaq 100. Dollar General surged +15%, MoonLake Immunotherapeutics +18%, and Ferguson Enterprises +17%. Real Estate Investment Trust companies retreated, with Mid-America Apartment Communities down -2%.

EchoStar fell -11% after missing a cash interest payment deadline. Earnings reports on 6/4 include Dollar Tree Inc, Five Below Inc, MongoDB Inc, PVH Corp, and Thor Industries Inc. The author did not hold positions in mentioned securities. The views expressed are solely informational.



Read more at Nasdaq: Stocks Finish Higher on Chip Stock Strength and Healthy US Labor Market