Stock Market Today: Markets Edge Higher as Trade Tensions and Jobs Data Take Center Stage

Major Indexes Continue Upward Momentum Despite Economic Concerns

U.S. stock markets posted modest gains on Wednesday, June 4, 2025, as investors digested weaker-than-expected employment data while keeping a watchful eye on ongoing trade negotiations. The major indexes continued their positive momentum from earlier in the week, extending a rally that pushed the S&P 500 to its best monthly performance since late 2023 in May.

At the closing bell, the S&P 500 (^GSPC) gained 0.25% to finish at 5,985.54, while the Dow Jones Industrial Average (^DJI) added 0.16% to close at 42,585.95. The tech-heavy Nasdaq Composite (^IXIC) rose 0.31% to 19,459.42.

“Stocks have kicked off June with three straight days of gains, showing remarkable resilience in the face of trade uncertainties,” said market strategist Angela Weiss. “Technology stocks continue to be the primary driver of this upward momentum.”

Trade Tensions and Economic Data in Focus

Wednesday marked a significant deadline in the ongoing trade disputes, as the Trump administration doubled tariffs on steel and aluminum imports to 50% from the previous 25% rate. Investors are closely monitoring negotiations between Washington and its trading partners, with particular attention on an expected call between President Trump and Chinese President Xi Jinping later this week.

The market also reacted to the ADP National Employment report, which came in weaker than expected, suggesting potential cooling in the labor market. This data comes ahead of Friday’s crucial monthly jobs report, which will provide further insights into how trade uncertainties are affecting the broader U.S. economy.

Meanwhile, the Organization for Economic Co-operation and Development recently cut its U.S. growth outlook to 1.6% for this year, down from its earlier forecast of 2.2%, citing tariff uncertainty as the key reason.

Notable Stock Movers

Several individual stocks made significant moves on Wednesday:

– Wells Fargo (WFC) surged 3.6% after the Federal Reserve removed a $1.95 trillion asset cap that had been imposed in 2018, allowing the bank to pursue growth again after seven years of restrictions.

– Hewlett Packard Enterprise (HPE) jumped nearly 6% after beating second-quarter revenue and profit estimates, driven by strong demand for its AI servers and hybrid cloud segment.

– CrowdStrike Holdings (CRWD) fell 5.72% after the cybersecurity firm forecast quarterly revenue below analyst estimates.

– Dollar Tree (DLTR) dropped 10.40% despite raising its annual profit forecast, as investors reacted to its quarterly earnings report released before the market open.

– Nvidia (NVDA) added a modest 0.10%, continuing its strong performance after surpassing Microsoft (MSFT) in market capitalization for the first time this year during Tuesday’s session.

– Applied Digital Corporation (APLD) was among the day’s biggest gainers, soaring 25.02% on heavy trading volume.

Earnings in Focus After the Bell

Several notable companies are scheduled to report earnings after today’s market close:

– MongoDB (MDB) will release its Q1 2026 results, with analysts closely watching the database company’s performance amid growing cloud adoption.

– Five Below (FIVE) is expected to report Q1 2025 earnings, with investors looking for signs of consumer spending resilience in the discount retail sector.

– PVH Corp (PVH), the owner of brands like Calvin Klein and Tommy Hilfiger, will announce its Q1 2025 results.

– ChargePoint Holdings (CHPT) will report its latest quarterly figures, providing insights into the electric vehicle charging infrastructure market.

– Descartes Systems Group (DSGX) and Verint Systems (VRNT) are also among the technology companies reporting after hours.

Looking Ahead

Market participants will be closely monitoring Friday’s monthly jobs report for further clues about the health of the U.S. economy. Additionally, next week’s Federal Reserve meeting will be in focus as investors assess the central bank’s stance on monetary policy amid trade uncertainties and mixed economic signals.

The ongoing trade negotiations, particularly between the U.S. and China, remain a critical factor that could drive market volatility in the coming days. As the temporary 90-day pause on additional tariffs approaches its end, market participants are hoping for positive developments that could alleviate concerns about global economic growth.