Rubrik’s Q1 FY26 excelled, beating guidance with 38% ARR growth to $1.18B and 49% revenue growth, highlighting strong cyber resilience market momentum.
U.S. markets climbed June 3, 2025, buoyed by labor data, despite trade tensions and a cautious OECD global economic outlook.
June 3, 2025 – Wall Street demonstrated its resilience again on Tuesday, with major U.S. stock indices posting solid gains as investors navigated a mixed bag of economic signals and continued to monitor developments in international trade. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all advanced, pushing closer to record highs, signaling underlying optimism in the market’s strength.
The S&P 500 rose by 34.43 points, or 0.6%, to close at 5,970.37. The blue-chip Dow Jones Industrial Average added 214.16 points, a 0.5% increase, to finish the day at 42,519.64. Leading the charge in percentage terms among the main indices was the tech-heavy Nasdaq Composite, which climbed 156.34 points, or 0.8%, to settle at 19,398.96. The positive sentiment extended to smaller companies, with the Russell 2000 index gaining 32.82 points, or a significant 1.6%, to close at 2,102.98.
A primary catalyst for Tuesday’s market optimism was the release of stronger-than-anticipated JOLTS (Job Openings and Labor Turnover Survey) data for April. The report indicated a rebound in labor demand, with job openings rising to 7.391 million, surpassing consensus estimates of 7.2 million and an upwardly revised 7.2 million for March. This figure provided a dose of confidence regarding the underlying health of the U.S. economy, suggesting businesses are still actively seeking to hire. Gains were notably driven by the professional/business services and health care/social assistance sectors.
However, not all economic news was rosy. Factory orders for April contracted by 3.7% month-over-month, a steeper decline than the anticipated -3.0% and a reversal from March’s 3.4% gain. This was largely attributed to a sharp decline in aircraft revenues.
Looming large over the market narrative are persistent trade policy uncertainties. Investors remain keenly focused on President Trump’s tariff strategies and ongoing, or anticipated, trade negotiations, particularly with China. While hopes for a constructive dialogue between President Trump and Chinese leader Xi Jinping provided some underlying support, the administration also announced a doubling of tariffs on steel from 25% to 50%, a move that directly impacted related sectors and signaled a continued hawkish stance.
Adding to the complex global picture, the Organisation for Economic Co-operation and Development (OECD) released its latest Economic Outlook today. The report projected a slowdown in U.S. economic growth to 1.6% in 2025, down from 2.8% in the previous year, attributing this primarily to the disruptive impact of trade wars and increased tariffs. The OECD also warned that the global economy is set for its weakest growth since the COVID-19 pandemic. While such forecasts often cast a shadow, the market’s immediate reaction on Tuesday suggested investors were, for now, prioritizing domestic strength indicators like the JOLTS report.
The impact of the steel tariff announcement was visible in the Basic Materials sector, with steel producers like Nucor (NUE) attracting attention. Nucor closed at $122.32, up 1.59%, outperforming the broader S&P 500. This move highlighted how specific policy decisions can create distinct winners and losers within the market.
Technology stocks continued their influential run, contributing significantly to the Nasdaq’s gains. Shares of Nvidia (NVDA) rose 2.84% to $141.27, and Broadcom (AVGO) also saw upward movement, indicating sustained investor confidence in the tech sector’s growth prospects. Tesla (TSLA) shares edged up 0.50% to close at $344.44.
One of the day’s standout performers was Dollar General (DG), which surged 15.88% to $112.57 after reporting stronger-than-expected profit and revenue for the start of the year, reassuring investors about consumer spending resilience in certain segments.
Other notable gainers on Tuesday, as reported by Morningstar, included:
On the downside, some stocks experienced significant declines:
In terms of trading volume, Nvidia (NVDA), Lucid Group (LCID) (which closed down 0.45% at $2.19), and Applied Digital Corp (APLD) (up 1.73% to $10.28) were among the most active stocks.
A broader June outlook from Morningstar suggested that the Communication Services sector remained undervalued despite recent strong performance, with giants like Alphabet (GOOGL) still seen as having upside. The Energy sector was also highlighted as significantly undervalued. Conversely, the Consumer Defensive sector was noted as appearing overvalued, skewed by a few large-cap names.
Beyond equities, the U.S. Dollar firmed against other major currencies on Tuesday. This move came as markets digested the U.S. economic data and contemplated the Federal Reserve’s potential path amidst ongoing inflation and growth considerations.
In commodities, oil prices remained relatively steady to slightly higher. West Texas Intermediate (WTI) crude hovered near $63 per barrel, while Brent crude exceeded $64. Industrial metals saw mixed reactions, with aluminum and steel futures impacted by the tariff news.
Across the Atlantic, Eurozone inflation figures for May showed a cooling, with the year-over-year Consumer Price Index (CPI) at 1.9%, down from 2.2% in April. This was below consensus forecasts and could influence the European Central Bank’s (ECB) monetary policy decisions, with an interest rate decision expected later in the week.
Interestingly, a report from the New York Federal Reserve released on Tuesday indicated that the Federal Reserve’s System Open Market Account (SOMA) experienced its second consecutive year of negative net income in 2024, attributed to the current interest rate environment. Projections suggest this could continue into 2025 before returning to positive levels.
Investors will be closely watching upcoming economic releases and central bank actions. The Bank of Canada is set to announce its interest rate decision on Wednesday, June 4th. Later in the week, the crucial U.S. Nonfarm Payrolls report for May will be released, providing a more comprehensive look at the labor market. The Canadian employment report is also due, offering further insights into North American economic health.
The market’s ability to absorb mixed economic news and ongoing geopolitical uncertainties while still pushing major indices higher suggests a degree of investor confidence. However, the potential for volatility remains, particularly as trade negotiations evolve and further economic data reveals the true trajectory of domestic and global growth. Tuesday’s session underscores a market that is selectively optimistic, weighing positive domestic indicators against a more cautious international backdrop.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market and financial conditions are subject to change.
Rubrik’s Q1 FY26 excelled, beating guidance with 38% ARR growth to $1.18B and 49% revenue growth, highlighting strong cyber resilience market momentum.
Broadcom’s Q2 FY25 shattered estimates with record revenue, driven by AI and VMware. Strong Q3 guidance points to continued robust growth and tech leadership.
Circle’s (CRCL) explosive NYSE IPO sees stock skyrocket over 200%. USDC issuer’s landmark debut signals strong digital finance investor confidence and raises $1.1B.
U.S. markets climbed June 3, 2025, buoyed by labor data, despite trade tensions and a cautious OECD global economic outlook.
June 3, 2025 – Wall Street demonstrated its resilience again on Tuesday, with major U.S. stock indices posting solid gains as investors navigated a mixed bag of economic signals and continued to monitor developments in international trade. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all advanced, pushing closer to record highs, signaling underlying optimism in the market’s strength.
The S&P 500 rose by 34.43 points, or 0.6%, to close at 5,970.37. The blue-chip Dow Jones Industrial Average added 214.16 points, a 0.5% increase, to finish the day at 42,519.64. Leading the charge in percentage terms among the main indices was the tech-heavy Nasdaq Composite, which climbed 156.34 points, or 0.8%, to settle at 19,398.96. The positive sentiment extended to smaller companies, with the Russell 2000 index gaining 32.82 points, or a significant 1.6%, to close at 2,102.98.
A primary catalyst for Tuesday’s market optimism was the release of stronger-than-anticipated JOLTS (Job Openings and Labor Turnover Survey) data for April. The report indicated a rebound in labor demand, with job openings rising to 7.391 million, surpassing consensus estimates of 7.2 million and an upwardly revised 7.2 million for March. This figure provided a dose of confidence regarding the underlying health of the U.S. economy, suggesting businesses are still actively seeking to hire. Gains were notably driven by the professional/business services and health care/social assistance sectors.
However, not all economic news was rosy. Factory orders for April contracted by 3.7% month-over-month, a steeper decline than the anticipated -3.0% and a reversal from March’s 3.4% gain. This was largely attributed to a sharp decline in aircraft revenues.
Looming large over the market narrative are persistent trade policy uncertainties. Investors remain keenly focused on President Trump’s tariff strategies and ongoing, or anticipated, trade negotiations, particularly with China. While hopes for a constructive dialogue between President Trump and Chinese leader Xi Jinping provided some underlying support, the administration also announced a doubling of tariffs on steel from 25% to 50%, a move that directly impacted related sectors and signaled a continued hawkish stance.
Adding to the complex global picture, the Organisation for Economic Co-operation and Development (OECD) released its latest Economic Outlook today. The report projected a slowdown in U.S. economic growth to 1.6% in 2025, down from 2.8% in the previous year, attributing this primarily to the disruptive impact of trade wars and increased tariffs. The OECD also warned that the global economy is set for its weakest growth since the COVID-19 pandemic. While such forecasts often cast a shadow, the market’s immediate reaction on Tuesday suggested investors were, for now, prioritizing domestic strength indicators like the JOLTS report.
The impact of the steel tariff announcement was visible in the Basic Materials sector, with steel producers like Nucor (NUE) attracting attention. Nucor closed at $122.32, up 1.59%, outperforming the broader S&P 500. This move highlighted how specific policy decisions can create distinct winners and losers within the market.
Technology stocks continued their influential run, contributing significantly to the Nasdaq’s gains. Shares of Nvidia (NVDA) rose 2.84% to $141.27, and Broadcom (AVGO) also saw upward movement, indicating sustained investor confidence in the tech sector’s growth prospects. Tesla (TSLA) shares edged up 0.50% to close at $344.44.
One of the day’s standout performers was Dollar General (DG), which surged 15.88% to $112.57 after reporting stronger-than-expected profit and revenue for the start of the year, reassuring investors about consumer spending resilience in certain segments.
Other notable gainers on Tuesday, as reported by Morningstar, included:
On the downside, some stocks experienced significant declines:
In terms of trading volume, Nvidia (NVDA), Lucid Group (LCID) (which closed down 0.45% at $2.19), and Applied Digital Corp (APLD) (up 1.73% to $10.28) were among the most active stocks.
A broader June outlook from Morningstar suggested that the Communication Services sector remained undervalued despite recent strong performance, with giants like Alphabet (GOOGL) still seen as having upside. The Energy sector was also highlighted as significantly undervalued. Conversely, the Consumer Defensive sector was noted as appearing overvalued, skewed by a few large-cap names.
Beyond equities, the U.S. Dollar firmed against other major currencies on Tuesday. This move came as markets digested the U.S. economic data and contemplated the Federal Reserve’s potential path amidst ongoing inflation and growth considerations.
In commodities, oil prices remained relatively steady to slightly higher. West Texas Intermediate (WTI) crude hovered near $63 per barrel, while Brent crude exceeded $64. Industrial metals saw mixed reactions, with aluminum and steel futures impacted by the tariff news.
Across the Atlantic, Eurozone inflation figures for May showed a cooling, with the year-over-year Consumer Price Index (CPI) at 1.9%, down from 2.2% in April. This was below consensus forecasts and could influence the European Central Bank’s (ECB) monetary policy decisions, with an interest rate decision expected later in the week.
Interestingly, a report from the New York Federal Reserve released on Tuesday indicated that the Federal Reserve’s System Open Market Account (SOMA) experienced its second consecutive year of negative net income in 2024, attributed to the current interest rate environment. Projections suggest this could continue into 2025 before returning to positive levels.
Investors will be closely watching upcoming economic releases and central bank actions. The Bank of Canada is set to announce its interest rate decision on Wednesday, June 4th. Later in the week, the crucial U.S. Nonfarm Payrolls report for May will be released, providing a more comprehensive look at the labor market. The Canadian employment report is also due, offering further insights into North American economic health.
The market’s ability to absorb mixed economic news and ongoing geopolitical uncertainties while still pushing major indices higher suggests a degree of investor confidence. However, the potential for volatility remains, particularly as trade negotiations evolve and further economic data reveals the true trajectory of domestic and global growth. Tuesday’s session underscores a market that is selectively optimistic, weighing positive domestic indicators against a more cautious international backdrop.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market and financial conditions are subject to change.
Rubrik’s Q1 FY26 excelled, beating guidance with 38% ARR growth to $1.18B and 49% revenue growth, highlighting strong cyber resilience market momentum.
Broadcom’s Q2 FY25 shattered estimates with record revenue, driven by AI and VMware. Strong Q3 guidance points to continued robust growth and tech leadership.
Circle’s (CRCL) explosive NYSE IPO sees stock skyrocket over 200%. USDC issuer’s landmark debut signals strong digital finance investor confidence and raises $1.1B.
Chime IPO analysis: Unpacking the S-1 financial prospectus. Explore key numbers, stock risks, and this fintech’s future investment outlook.