The US stock market closed higher today, buoyed by strong performance from tech stocks and optimistic trade negotiations, leading the S&P 500 to an all-time high. Despite early negative reactions to the ADP employment report indicating a drop of 33,000 jobs, President Trump's announcement of progress in trade talks with Vietnam lifted investor sentiment, particularly for companies like Nike and Tesla. However, Navel Tech experienced a decline on news of its major client Microsoft scaling back AR development plans. With crucial economic indicators set to be released tomorrow, the market remains vigilant about potential Federal Reserve actions, particularly in light of the unexpected employment drop.
Overview
The US stock market demonstrated a robust performance today, primarily driven by tech sector strength and optimism surrounding trade negotiations.
| Time (ET) | Indicator |
|---|---|
| 08:30 AM | US May Trade Balance |
| 08:30 AM | US Unemployment Claims |
| 08:30 AM | US Unemployment Rate |
| 08:30 AM | US Weekly Jobless Claims |
| 08:45 AM | US S&P Global Services PMI |
| 08:45 AM | US S&P Global Composite PMI |
| 11:00 PM | US S&P Services PMI |
| 11:00 PM | US May Durable Goods Orders |
| Continuous | EIA Natural Gas Inventory Releases |
| 12:00 AM | Federal Reserve's Post-Meeting Statement |
| NasDaq | S&P 500 |
| Dow Jones | Won/Dollar |
Overall, the market displayed a robust upward trend today, primarily driven by the tech sector and optimistic trade negotiations. The upcoming economic indicators will be crucial for determining future market sentiment and potential Federal Reserve actions.
