Today’s Complete Market CoverageMarket Performance: S&P 500, Nasdaq Continue Winning Streak
U.S. stock markets continued their upward momentum on Wednesday, June 4, 2025, with major indexes posting modest gains as investors balanced concerns about U.S.-China trade relations against weaker-than-expected employment data. The S&P 500 added 0.25% to reach 5,985.54, while the tech-heavy Nasdaq Composite rose 0.31% to 19,459.42. The Dow Jones Industrial Average gained 0.16% to close at 42,585.95.
This marks the third consecutive day of gains for major indexes, extending a rally that pushed the S&P 500 to its best monthly performance since late 2023 during May. The market’s resilience comes despite President Trump’s comment on Truth Social that Chinese President Xi Jinping is “extremely hard to make a deal with,” suggesting ongoing tensions in the trade negotiations that began last month when both countries suspended massive tariffs while working toward a broader agreement.
After-Hours Movers and Earnings Reports
In after-hours trading, attention turned to several companies reporting quarterly results. MongoDB (MDB) is scheduled to release earnings, with analysts expecting $0.66 per share on revenue of $527.48 million. Five Below (FIVE) is also reporting, with projections of $0.83 per share on revenue of $966.49 million.
Earlier in the day, Dollar Tree (DLTR) shares plummeted 10.40% after disappointing quarterly results, making it one of the day’s biggest losers. On the positive side, Applied Digital Corporation (APLD) surged an impressive 25.02%, while Guidewire Software (GWRE) jumped 20.53%.
Technology stocks continued their strong performance, with chipmaker Broadcom (AVGO) gaining 1.65% ahead of its earnings report scheduled for tomorrow. CoreWeave (CRWV) added 4.33%, while semiconductor giant Nvidia (NVDA) held relatively steady with a modest 0.10% increase.
Economic Data and Trade Developments
Wednesday’s market was significantly influenced by economic data releases, particularly the ADP private sector employment report, which came in weaker than expected. This puts additional importance on Friday’s comprehensive May jobs report, which investors will scrutinize for signs of economic resilience amid trade tensions.
The ISM Services index also disappointed, entering contraction territory at 49.9 versus expectations of 52, raising concerns about the broader economy’s health. Meanwhile, the Bank of Canada maintained its interest rate at 2.75%.
Trade tensions remained a key market driver, with President Trump’s steel tariff hike taking effect today. European Union and U.S. trade officials are meeting in Paris for negotiations, as markets continue to assess the potential economic impact of the administration’s trade policies.
Sector Performance and Commodity Markets
Technology stocks led the market gains, with Meta Platforms (META) rising 3.16% and Alphabet (GOOGL) adding 1.16%. The semiconductor sector showed particular strength, with ON Semiconductor (ON) climbing more than 4% after soaring 11% the previous day when its CEO indicated signs of recovering demand in key markets. Globalfoundries (GFS) also advanced more than 4%.
In the financial sector, Wells Fargo (WFC) shares jumped 2.5% after the Federal Reserve lifted restrictions imposed in 2018.
Commodity markets saw mixed performance, with oil prices declining 1.12% after Saudi Arabia announced a 411,000 barrel increase in production. Industrial metals had a positive day, with platinum and copper leading gains. Gold reached its weekly highs after yesterday’s decline.
Looking Ahead: Key Events to Watch
Investors are now focusing on several upcoming market-moving events. The European Central Bank’s rate decision arrives tomorrow at 8:15 AM ET, with markets broadly expecting a final cut for 2025 that would take the deposit rate from 2.25% to 2.00%.
Friday’s U.S. Non-Farm Payroll report will be the week’s most significant data release, potentially providing crucial insights into the labor market’s health amid ongoing trade uncertainties. Additionally, market participants will closely monitor any developments in U.S.-China trade negotiations, which continue to influence market sentiment.
In the earnings calendar, Broadcom’s quarterly results tomorrow will be closely watched for insights into the semiconductor industry’s outlook, especially following the strong performance of chip stocks in recent sessions.