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04.06.202520:03:03UTC+00Dow Snaps 4-Day Win Streak

The S&P 500 ended the session relatively unchanged on Wednesday, while the Nasdaq saw a modest increase of 0.3%, and the Dow dropped nearly 92 points, snapping a streak of four consecutive days of gains. Market activity lacked direction as investors absorbed news of a significant slowdown in private-sector employment growth. The ADP report revealed a mere 37,000 new jobs in May, falling short of expectations and marking the lowest level in over two years. This report casts a shadow over the upcoming nonfarm payroll figures, heightening concerns that ongoing trade policy uncertainties are impacting the labor market. Additionally, the services sector experienced contraction in May, amplifying worries about the overall economic outlook. Meanwhile, President Trump escalated tensions by doubling tariffs on steel and aluminum imports to 50% and criticized Federal Reserve Chair Powell, intensifying calls for interest rate reductions. Hopes for a resolution in US-China trade discussions diminished as Trump described Xi Jinping as “extremely hard to deal with,” highlighting the fragile state of the negotiations.

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