Market Pulse – Live UpdatesMajor Indexes Pull Back After Strong Start to June
U.S. stock markets opened lower on Tuesday, June 3, 2025, as investors digested renewed trade tensions and awaited key economic data. At the opening bell, the S&P 500 fell 0.24%, the Dow Jones Industrial Average dropped 0.31%, and the Nasdaq Composite declined 0.12%.
The pullback comes after a strong start to June, with major indexes posting modest gains on Monday despite escalating trade concerns. The S&P 500 and Nasdaq had their best monthly performances since November 2023 in May, climbing 0.4% and 0.7% respectively on Monday.
Trade Tensions Dominate Market Sentiment
Trade concerns continue to be the primary focus for investors as President Donald Trump and Chinese leader Xi Jinping are scheduled to speak this week. This comes days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions.
The Trump administration has requested countries to provide their best trade offers by Wednesday as officials seek to accelerate negotiations with multiple partners ahead of a self-imposed deadline in just five weeks. Adding to market uncertainty, Trump has planned to double tariffs on imported steel and aluminum to 50% starting tomorrow.
The Organisation for Economic Cooperation and Development (OECD) revised its global growth forecast down to 2.9% for 2025 from 3.1% expected earlier, citing the effects of Trump’s trade war on the U.S. economy. The OECD now sees the U.S. economy expanding by just 1.6%, down from 2.2%.
Notable Stock Movers
Several stocks are making significant moves in early trading:
– Dollar General (DG) jumped 10.8% after the discount retailer reported first-quarter earnings that beat expectations. The company posted earnings of $1.78 per share on revenue of $10.44 billion, exceeding estimates of $1.48 per share and $10.31 billion. Dollar General also raised its annual sales forecast, noting its guidance assumes current tariff rates will remain through mid-August.
– Constellation Energy (CEG) soared 13.9% after Meta Platforms (META) signed a 20-year agreement to purchase nuclear power from the company. Meta will buy approximately 1.1 gigawatts of energy from Constellation’s Clinton Clean Energy Center in Illinois beginning in June 2027. Other energy stocks, including Vistra Energy (VST) and NRG Energy (NRG), rose 5% and 2% respectively in sympathy with the news.
– Pinterest (PINS) added 4.8% after JPMorgan upgraded the image-sharing platform to “overweight” from “neutral,” saying Pinterest has made progress in its priorities including adding users and improving monetization. JPMorgan hiked the price target to $40 from $35.
– Signet Jewelers (SIG) rose 11% after the world’s largest retailer of diamond jewelry reported first-quarter fiscal 2026 earnings that beat analyst expectations and raised its full-year guidance.
– Nio (NIO) fell 4.3% after the Chinese electric vehicle manufacturer reported a wider first-quarter loss than analysts expected.
Upcoming Economic Data and Events
Investors are closely watching key economic reports scheduled for release today:
– The April Job Openings and Labor Turnover Survey (JOLTS) report will be released at 10:00 AM ET. Economists expect 7.1 million job openings, with the report being a key indicator of labor market health that the Federal Reserve monitors closely.
– April factory orders data will also be published at 10:00 AM ET, providing insights into the industrial side of the economy, though analysts note it’s challenging to get a clear view through the tariff noise.
Several Federal Reserve officials are scheduled to speak today, including Fed Board Governor Lisa Cook, Chicago Fed President Austan Goolsbee, and Dallas President Lorie Logan, whose comments may provide further insights into monetary policy direction.
Market Outlook
Despite current volatility, some analysts remain optimistic about the market’s short-term prospects. Jeff deGraaf, head of technical research at Renaissance Macro, noted on CNBC that “The next six weeks are some of the best six-week periods, historically, really rivaling only what we see in the fourth quarter. So this is not a time to lighten up on positions, just from the calendar’s perspective.”
Meanwhile, Deutsche Bank raised its year-end target for the S&P 500 to 6,550 from 6,150, citing lower tariff-related pressure on earnings and a resilient economy.
As trading continues today, investors will be watching for developments in trade negotiations and economic data releases that could provide clearer direction for markets in the coming weeks.