Today’s Complete Market CoverageMajor Indexes Show Caution at Opening Bell
U.S. stock markets opened with mixed performance on Thursday, June 5, 2025, as investors digested weaker-than-expected employment data and ongoing uncertainty surrounding President Trump’s tariff policies. At the opening bell, the Dow Jones Industrial Average slipped 0.31% to 42,297.67, extending its decline after snapping a four-day winning streak yesterday. The S&P 500 edged down 0.22% to 5,957.78, while the tech-heavy Nasdaq Composite showed more resilience, dipping just 0.15% to 19,431.95.
The cautious market opening follows Wednesday’s ADP private payroll report that showed hiring increased by just 37,000 in May, significantly below analysts’ expectations of 110,000 and representing the lowest monthly job total since March 2023. This disappointing data has fueled concerns about potential economic slowdown and increased calls for the Federal Reserve to cut interest rates.
Tech Sector Provides Support as Nvidia Leads Gains
The technology sector is providing some support to the broader market this morning, with Nvidia (NVDA) helping to lift the Nasdaq despite being down 0.79% in early trading. The AI chipmaker has been on a strong run recently after exceeding expectations in its fiscal first-quarter earnings report last month, with its data center business recording impressive year-over-year growth of 73%.
Other notable tech movers include Palantir Technologies (PLTR), which is up 0.51% in early trading, while Tesla (TSLA) is experiencing significant pressure, dropping 5.57% following renewed criticism from CEO Elon Musk regarding President Trump’s budget bill.
Major Corporate News Moving Markets
Boeing (BA) shares are gaining momentum after CEO Kelly Ortberg announced the aircraft manufacturer will resume deliveries to China next month. Ortberg also indicated that Boeing plans to increase production of its 737 Max jets to 42 per month in the near term, providing a positive outlook after a challenging period for the company.
In other corporate news, MongoDB (MDB) is surging nearly 17% after strong earnings results, while PVH Corp (PVH) is the day’s biggest loser so far, plummeting over 18% in early trading. Starbucks (SBUX) is under pressure following a downgrade from TD Cowen, which cut the coffee giant to “hold” from “buy” while maintaining its $90 price target.
Procter & Gamble (PG) announced plans to cut 7,000 non-manufacturing jobs, representing approximately 15% of its workforce, as part of restructuring efforts. Meanwhile, Circle Internet Group, the issuer of USDC stablecoin, has priced its upsized IPO above its expected range at $31 per share, highlighting continued investor interest in the cryptocurrency sector.
Key Economic Data and Upcoming Events
Today’s economic calendar features several important releases that could impact market sentiment. The Challenger Job-Cut Report was released before the opening bell, providing insights into corporate layoffs. Later today, investors will be watching for the weekly jobless claims data, which takes on added significance following yesterday’s weak ADP report.
Looking ahead to tomorrow, Friday’s nonfarm payrolls report will be crucial for market direction, with consensus estimates calling for 130,000 new jobs in May and an unemployment rate holding steady at 4.2%. This report could significantly influence Federal Reserve policy decisions and market sentiment moving forward.
Tariff Uncertainty Continues to Weigh on Markets
Market volatility remains elevated as investors continue to monitor developments regarding President Trump’s tariff policies. After a federal court ruled on Wednesday that Trump had overstepped his authority with the “reciprocal” tariffs, the administration quickly filed an appeal, and an appeals court has temporarily reinstated the levies. The administration has indicated it may ask the Supreme Court as early as today to intervene.
This ongoing tariff uncertainty has caused many companies to adjust their forecasts and has contributed to market caution despite the recent tech-led rally. As Larry Tentarelli, founder of the Blue Chip Daily Trend Report, noted, “In general, markets don’t like uncertainty, because it makes forecasting more difficult. We expect the tariff news cycle to be an extended process, which can lead to higher short-term volatility.”
As trading continues throughout the day, investors will be closely monitoring both corporate developments and macroeconomic data for further direction in what has become an increasingly complex market environment.