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
Protey, a Russian telecom equipment developer, installed 4G mobile network systems in Afghanistan last year, a development reported by the Vedomosti business newspaper on Thursday. The systems are designed to provide mobile services for an estimated 10 million people.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney held talks to improve bilateral ties, pledging renewed dialogue and cooperation. Despite recent tensions, both leaders expressed interest in pragmatic engagement and resolving key issues through open communication.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Federal authorities have arrested 14 suspects in Los Angeles linked to an Armenian organized crime ring accused of stealing $30 million in COVID relief and Small Business loans intended to support American taxpayers.
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
Centrica, owner of British Gas, has agreed to a £20 billion deal with Norway’s Equinor to supply nearly 10% of the UK’s gas needs annually for the next decade, supporting energy security while paving the way for future hydrogen integration.
Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
A U.S. appeals panel has rejected Apple’s request to pause a ruling that restricts the tech giant from charging commissions on in-app purchases made outside its payment system—delivering a major blow to the company in its long-running legal fight with Epic Games.
The European Commission has unveiled a draft budget for 2026, building on the mid-term revision of the 2021–2027 long-term financial framework. The revised plan responds to recent global challenges—including energy crisis, and rising geopolitical tensions—and aligns spending with the EU priorities.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney held talks to improve bilateral ties, pledging renewed dialogue and cooperation. Despite recent tensions, both leaders expressed interest in pragmatic engagement and resolving key issues through open communication.
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