Markets Continue Upward Momentum Despite Weaker-Than-Expected Employment Data
US stocks inched higher on Wednesday, June 4, 2025, as Wall Street digested a sharp slowdown in private-sector hiring growth while keeping an eye on upcoming trade talks and the Federal Reserve’s next policy meeting. The major indexes are attempting to secure their third consecutive day of gains.
As of midday, the S&P 500 (^GSPC) rose about 0.25% to 5,985.54, while the Dow Jones Industrial Average (^DJI) added 0.16% to 42,585.95. The tech-heavy Nasdaq Composite (^IXIC) gained 0.31% to 19,459.42, building on the strong start to the week.
This upward momentum follows a strong May performance, with the S&P 500 posting its best monthly gains since late 2023. Stocks have rallied in recent weeks, with technology stocks leading the charge.
Jobs Data Shows Unexpected Weakness
Wednesday’s market activity was influenced by the ADP National Employment Report released this morning, which showed private-sector hiring growth came in weaker than expected. This surprise miss has investors recalibrating their expectations for Friday’s comprehensive Employment Situation report from the Bureau of Labor Statistics, which will provide a more complete picture of the labor market.
The jobs data comes at a critical time as market participants assess how the economy is holding up amid President Trump’s recent tariff escalation, particularly with steel tariff hikes taking effect today.
Earnings in Focus: Dollar Tree Plunges on Disappointing Results
Corporate earnings remain a key driver of individual stock movements. Dollar Tree (DLTR) shares plummeted 10.40% after the discount retailer reported quarterly earnings that disappointed investors. The company posted earnings per share of $1.19 for the quarter ending April 30, representing a 16.78% decrease compared to the same quarter last year.
Other notable earnings reports today include:
– REV Group (REVG) surged 16.44% after reporting strong quarterly results, with earnings per share of $0.55, representing a 61.76% increase compared to the same quarter last year.
– Thor Industries (THO) reported earnings that showed a 17.37% decrease compared to the same quarter last year.
– Applied Digital Corporation (APLD) led the day’s gainers, jumping 25.02%.
– Asana (ASAN) was among the biggest losers, dropping 17.46%.
Tech Stocks Continue to Lead Market
Technology stocks remain at the forefront of market activity. CoreWeave (CRWV) gained 4.33%, continuing its recent strong performance.
Upcoming Market Events: All Eyes on the Fed
Investors are increasingly focused on the Federal Reserve’s next policy meeting scheduled for June 17-18, which will include a press conference and the release of updated economic projections.
Before the Fed meeting, market participants will be watching several key events:
– The Beige Book release later today, which provides anecdotal information on current economic conditions
– Consumer Price Index data on June 11, which will offer insights into inflation trends
– Producer Price Index figures on June 12
Additionally, several Fed officials are scheduled to speak this week, including Governor Adriana D. Kugler, who will discuss “Economic Outlook and Monetary Policy” at the Economic Club of New York tomorrow.
After-Hours Earnings to Watch
Several companies are scheduled to report earnings after today’s market close, including:
– MongoDB (MDB), with analysts expecting quarterly earnings of $0.66 per share on revenue of $527.48 million
– Five Below (FIVE), projected to report quarterly earnings of $0.83 per share
– PVH (PVH), with expectations of $2.25 per share on revenue of $1.93 billion
– ChargePoint Holdings (CHPT), expected to report a quarterly loss
Market Outlook
As we move into the second half of the week, market sentiment remains cautiously optimistic despite concerns about slowing job growth. The continued strength in technology stocks has helped offset weakness in other sectors, while investors await more clarity on the Federal Reserve’s policy direction.
With major indexes attempting their third straight day of gains, traders will be closely monitoring Friday’s comprehensive jobs report and upcoming inflation data for signals about the economy’s health and potential Fed actions in the coming months.

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.