U.S. Stocks Show Mixed Performance Amid Trade News and Job Data
U.S. stocks had a mixed day on Wednesday, June 2. The Dow Jones fell slightly, but the S&P 500 and Nasdaq saw gains. The Nasdaq led with a 0.78% increase,driven by hopes of lower interest rates.
Positive trade news and weak jobs data fueled these expectations. President Trump announced a preliminary trade deal with Vietnam. U.S. imports to Vietnam will be tariff-free, while Vietnam’s imports to the U.S. will face a 20% tariff. A 40% duty on transshipping aims to prevent tariff evasion.
Weak employment data also played a role. ADP reported that the private sector lost 33,000 jobs in June,far below the expected 100,000 gain. This reluctance to hire could push the Federal reserve to cut interest rates.
Tesla was a standout performer, with shares rising 4.62%. The company produced more cars than expected, though deliveries were slightly below projections.This mix of news kept the market in a state of cautious optimism.
