Benzinga - by Akanksha Bakshi, Benzinga Editor.
On Tuesday, June 4th, U.S. stock markets closed higher, with main indexes rebounding from early losses as weak labor market data, including a three-year low in job openings, fueled expectations for a Federal Reserve rate cut.
Economic data showed U.S. factory orders rose 0.7% to $588.2 billion in April, while job openings decreased by 296,000 to 8.059 million for the same month.
Most S&P 500 sectors ended higher, led by gains in real estate, consumer staples, and information technology stocks, while materials and energy stocks closed lower.
The Dow Jones Industrial Average was up 0.36% and closed at 38,711.29. The S&P 500 gained 0.15%, ending the day at 5,291.34, and the Nasdaq Composite rose 0.15%, finishing the session at 16,853.74.
Asian Markets Today
- On Tuesday, Japan’s Nikkei 225 declined by 0.88%, ending the session at 38,462.50, led by losses in the Mining, Paper & Pulp, and Banking sectors.
- Australia’s S&P/ASX 200 index closed higher by 0.41% at 7,769.00, led by gains in the Telecoms Services, Healthcare, and A-REITs sectors.
- India’s Nifty 50 gained 3.36% at 22,620.35, and the Nifty 500 closed higher by 3.59% at 21,054.40.
- China’s Shanghai Composite was down 0.83%, ending the session at 3,065.40, while the Shenzhen CSI fell 0.58%, closing at 3,594.79.
- Hong Kong’s Hang Seng ended the session lower by 0.10% at 18,424.96.
- The European STOXX 50 index gained 1.10%.
- Germany’s DAX rose 0.69%.
- France’s CAC was up 0.65%.
- U.K.’s FTSE 100 traded higher by 0.25%.
- Crude Oil WTI was trading higher by 0.12% at $73.34/bbl, and Brent was up 0.17% at $77.64 bbl.
- Oil prices remained near four-month lows due to anticipated OPEC+ supply increases and mixed U.S. economic signals. Despite slight gains, prices had previously dropped sharply following OPEC’s announcement of planned output boosts amid weakening demand.
- Natural Gas gained 1.51% to $2.625.
- Gold was trading higher by 0.15% at $2,350.90, Silver rose 0.35% to $29.712, and Copper was up 0.10% to $4.5418.
Dow futures were up 0.14%, S&P 500 futures gained 0.22%, and Nasdaq 100 Futures rose 0.50%.
Forex at 06:15 AM ET
The U.S. Dollar Index gained 0.21% to 104.33, USD/JPY was up 0.82% at 156.13, and USD/AUD rose 0.11% to 1.5053.
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