The S&P 500 barely budged Wednesday as weak job and service sector data revealed the economic fallout from President Trump’s trade war tactics.
The benchmark S&P 500 index closed nearly flat on Wednesday (June 4), rising just 0.01%, as investors weighed tech stock gains against troubling economic signals tied to President Donald Trump’s erratic trade policies.
While tech shares kept the market afloat, enthusiasm quickly waned after data showed the U.S. services sector contracted in May for the first time in nearly a year. On top of that, input prices for businesses rose—a worrying sign that the U.S. is facing both slowing growth and persistent inflation.
Labor market data also disappointed. According to the ADP National Employment Report, private employers added the fewest jobs in more than two years last month. All eyes are now on Friday’s nonfarm payrolls report for a clearer picture of how trade volatility is rattling U.S. hiring.
Washington has now doubled tariffs on imported steel and aluminum to 50%, and June 4 marked Trump’s deadline for global trading partners to present revised deals—before more punishing levies kick in this July.
Investors are anxiously watching for signs of breakthrough in trade talks, particularly a possible call between Trump and Chinese President Xi Jinping. The world’s two largest economies remain locked in a high-stakes standoff.
Despite the uncertainty, May still delivered the strongest monthly gains for both the S&P 500 and the Nasdaq since November 2023, thanks to a temporary easing in trade rhetoric and strong corporate earnings.
Still, the S&P 500 remains over 2% below its all-time high set in February.
Barclays became the latest major brokerage to raise its year-end forecast for the S&P 500, citing hopes that trade disruptions will ease and earnings growth will normalize by 2026. That’s a long-term bet—short-term pain remains the more immediate reality.
Here’s how the numbers shook out:
S&P 500: +0.44 points, or 0.01%, to close at 5,970.81
Nasdaq Composite: +61.53 points, or 0.32%, to 19,460.49
Dow Jones Industrial Average: -91.90 points, or 0.22%, to 42,427.74
Azerbaijan’s Foreign Ministry on Saturday voiced deep concern over the escalating tensions following the United States’ military strikes on Iranian nuclear facilities, calling on all sides to prioritize diplomacy over confrontation.
The Pentagon concluded a high-stakes press briefing Saturday afternoon following the U.S. strikes on Iran’s nuclear facilities, outlining the scale and success of the mission while stressing the door remains open to diplomacy.
Türkiye has voiced strong concern following the United States’ strikes on Iranian nuclear facilities, warning that the action could dangerously escalate the conflict and trigger a global crisis.
Global investors are bracing for significant market turmoil when trading reopens, with analysts predicting a sharp spike in oil prices and a flight to safe-haven assets following the United States' announcement of military strikes against three Iranian nuclear facilities.
Iran’s top diplomat on Sunday issued a stark condemnation of the United States following overnight military strikes on Iranian nuclear facilities, declaring that Washington had crossed a "very big red line" and would be held "fully responsible" for the consequences.
Gulf states hosting major U.S. military bases were placed on high alert Sunday after American airstrikes destroyed Iran’s main nuclear sites, raising fears of regional retaliation and a broader conflict that could engulf key energy exporters and destabilise global security.
Senior Russian officials have condemned the United States’ recent military strikes on Iran, warning of a spiralling regional conflict and accusing U.S. President Donald Trump of igniting a "new war" that could backfire by strengthening Iran's leadership.
The United States has clarified that its recent military strikes on Iranian nuclear facilities were not intended to overthrow the Iranian government, but to neutralise what it described as urgent threats to national security, amid rising tensions and fears of broader regional conflict.
Iran's top security body, the SNSC, will decide on closing the Strait of Hormuz, a critical oil and gas chokepoint, after parliament's reported approval. A Revolutionary Guards commander stated the measure is "on the agenda," signaling escalating tensions.
Azerbaijan’s Foreign Ministry on Saturday voiced deep concern over the escalating tensions following the United States’ military strikes on Iranian nuclear facilities, calling on all sides to prioritize diplomacy over confrontation.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
The European Investment Bank (EIB) announced Friday it is raising its financing ceiling to a record €100 billion to accelerate investments in defence, energy security and Europe’s technological leadership.
Meta has teamed up with Oakley to release AI-powered smart glasses, expanding its push into wearable tech after the success of Ray-Ban Meta glasses. The social media company is expanding its partnership with Oakley and Ray-Ban-parent EssilorLuxottica.
Gulf states hosting major U.S. military bases were placed on high alert Sunday after American airstrikes destroyed Iran’s main nuclear sites, raising fears of regional retaliation and a broader conflict that could engulf key energy exporters and destabilise global security.
Senior Russian officials have condemned the United States’ recent military strikes on Iran, warning of a spiralling regional conflict and accusing U.S. President Donald Trump of igniting a "new war" that could backfire by strengthening Iran's leadership.
The United States has clarified that its recent military strikes on Iranian nuclear facilities were not intended to overthrow the Iranian government, but to neutralise what it described as urgent threats to national security, amid rising tensions and fears of broader regional conflict.
Iran's top security body, the SNSC, will decide on closing the Strait of Hormuz, a critical oil and gas chokepoint, after parliament's reported approval. A Revolutionary Guards commander stated the measure is "on the agenda," signaling escalating tensions.
Azerbaijan’s Foreign Ministry on Saturday voiced deep concern over the escalating tensions following the United States’ military strikes on Iranian nuclear facilities, calling on all sides to prioritize diplomacy over confrontation.
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