From Yahoo Finance: 2025-06-03 23:27:00

Wall Street’s recent rally lost momentum on Wednesday due to discouraging economic reports. The S&P 500 finished virtually unchanged, the Dow Jones fell 0.2%, and the Nasdaq added 0.3%. Treasury yields dropped after reports showed contraction in U.S. services industries and fewer jobs added. The weaker economy may prompt the Federal Reserve to cut interest rates.

President Trump called on Fed Chair Jerome Powell to lower rates after a disappointing jobs report. Trump’s tariffs have created uncertainty and may impact the rest of the economy. Long-term Treasury yields have been rising, and concerns about adding to the national debt are affecting interest rates.

Stocks like homebuilders rallied as Treasury yields fell, benefiting from lower interest rates. Hewlett Packard Enterprise and cybersecurity company CrowdStrike reported mixed results. The S&P 500 ended slightly higher, while international markets rose on hopes for trade deals with lowered tariffs.

Trade talks continue as Trump remains tough on China. The EU’s top trade negotiator met with the U.S. counterpart to discuss ongoing trade issues. Bond markets saw a drop in Treasury yields, with expectations of possible rate cuts by the Federal Reserve.



Read more at Yahoo Finance: Wall Street’s big rally stalls following some discouraging economic data