Track Markets Live NowMajor Indexes Continue Upward Momentum Despite Economic Concerns
The major U.S. stock indexes edged higher during midday trading on Wednesday, June 4, 2025, extending their winning streak to a third consecutive session despite weaker-than-expected employment data. As of 11:00 AM Eastern Time, the S&P 500 was up 0.25% at 5,985.54, while the Dow Jones Industrial Average gained 0.16% to 42,585.95. The tech-heavy Nasdaq Composite showed the strongest performance, rising 0.31% to 19,459.42.
Today’s modest gains build on the market’s strong start to June, following a May that saw the S&P 500 post its best monthly performance since late 2023. Investors appear to be balancing optimism in the technology sector against concerns about the broader economic outlook and ongoing trade tensions.
ADP Jobs Report Misses Expectations
This morning’s ADP National Employment Report showed a sharp slowdown in private-sector hiring, coming in significantly below analyst expectations. The disappointing jobs data has investors closely watching Friday’s upcoming comprehensive employment report from the Bureau of Labor Statistics for further confirmation of potential labor market weakness.
“The weaker-than-expected ADP data suggests the labor market may finally be feeling the effects of higher interest rates and trade uncertainties,” said market strategist Emma Chen of Capital Insights. “However, the market’s resilience indicates investors are still optimistic about corporate earnings growth, particularly in the technology sector.”
Tech Stocks Lead the Way
Technology shares continued to drive market gains, with semiconductor stocks showing particular strength. Nvidia (NVDA) rose 0.10% to $141.36, extending its rally from earlier this week. The AI chip leader remains a market favorite as artificial intelligence investments continue to accelerate across industries.
Hewlett Packard Enterprise (HPE) surged nearly 6% after reporting better-than-expected quarterly results, driven by strong demand for its AI servers and hybrid cloud segment.
STMicroelectronics (STM) was among the day’s biggest gainers, jumping 10.66% after its CEO indicated the French-Italian chipmaker is seeing signs of an industry upcycle that will boost results in coming quarters.
Retail Sector Mixed on Earnings
The retail sector showed mixed performance today, with Dollar Tree (DLTR) shares plunging 10.40% despite reporting better-than-expected first-quarter results. Investors reacted negatively to the discount retailer’s disappointing second-quarter outlook amid growing concerns about consumer spending.
REV Group (REVG) was a bright spot, surging 16.44% after releasing its quarterly earnings report this morning.
Trade Tensions and Tariffs in Focus
Market participants continue to monitor developments on the trade front as Washington doubled its tariffs on steel and aluminum imports today. The tariffs jumped to 50% from the previous 25% rate introduced in March.
This marks a key deadline set by President Trump for trading partners to make their best offers to avoid additional punitive import levies scheduled to take effect in early July. Negotiations between Washington and its trading partners remain a focal point for investors concerned about potential impacts on global growth and inflation.
Upcoming Economic Events
Investors are looking ahead to several key economic releases in the coming days that could provide further insight into the health of the U.S. economy:
– Friday, June 6: The Bureau of Labor Statistics will release the comprehensive May employment report, with economists expecting approximately 125,000 new jobs and an unemployment rate of 4.2%.
– Wednesday, June 11: The Consumer Price Index (CPI) for May will be closely watched for signs of inflation trends.
– Thursday, June 12: Producer Price Index (PPI) data will provide additional inflation insights.
Notable Stock Movers
Among other notable stock movements today:
– Applied Digital Corporation (APLD) led the gainers list, soaring 25.02% on heavy trading volume.
– CrowdStrike Holdings (CRWD) fell 3.89% despite Jim Cramer describing the cybersecurity company’s latest earnings as “unbelievably good.”
– Asana (ASAN) was the day’s biggest loser, plummeting 17.46%.
– CoreWeave (CRWV), a rising player in the AI infrastructure space, gained 4.33% to $156.99.
– Wells Fargo (WFC) rose 0.75% to $76.22 after news broke that the bank has finally escaped the Federal Reserve’s asset cap after seven years, allowing it to pursue growth strategies again.
As trading continues into the afternoon, investors will be closely monitoring comments from Federal Reserve officials and any developments in trade negotiations that could impact market sentiment heading into the latter part of the week.