Benzinga - by Akanksha Bakshi, Benzinga Editor.
On Wednesday, June 5th, U.S. stock markets closed higher, with the S&P 500 and Nasdaq setting record closing highs. This was driven by robust performances in technology stocks and buoyed by economic indicators that suggest the Federal Reserve may begin easing its policies soon.
Economic data showed that private U.S. businesses added 152,000 jobs in May, below expectations of 173,000 and 192,000 in April. Meanwhile, the ISM services PMI rose to 53.8, the highest in nine months and above the forecast of 50.8.
Technology stocks led the S&P 500 sectors’ gains, followed by communications and industrials, while consumer staples trailed.
The Dow Jones Industrial Average was up 0.25% and closed at 38,807.33. The S&P 500 gained 1.18%, ending the day at 5,354.03, and the Nasdaq Composite rose 1.95%, finishing the session at 17,186.38.
Asian Markets Today
- On Thursday, Japan’s Nikkei 225 gained 0.74%, ending the session at 38,745.50, led by gains in the Communication, Pharmaceutical Industry, and Power sectors.
- Australia’s S&P/ASX 200 index closed higher by 0.68% at 7,821.80, led by gains in the Gold, IT and Financials sectors.
- India’s Nifty 50 gained 0.89% at 22,821.40, and the Nifty 500 closed higher by 1.48% at 21,365.00.
- China’s Shanghai Composite was down 0.54%, ending the session at 3,048.79, while the Shenzhen CSI fell 0.07%, closing at 3,592.25.
- Hong Kong’s Hang Seng ended the session higher by 0.28% at 18,476.80.
- The European STOXX 50 index gained 0.63%.
- Germany’s DAX rose 0.65%.
- France’s CAC was up 0.39%.
- U.K.’s FTSE 100 traded higher by 0.32%.
- Crude Oil WTI was trading higher by 0.50% at $74.44/bbl, and Brent was up 0.38% at $78.70 bbl.
- Oil prices increased supported by anticipated U.S. Federal Reserve rate cuts in September, despite an OPEC+ supply increase and higher U.S. inventories.
- Natural Gas gained 0.22% to $2.762.
- Gold was trading higher by 0.20% at $2,380.20, Silver rose 1.20% to $30.340, and Copper was up 0.71% to $4.6387.
Dow futures were down 0.04%, S&P 500 futures slid 0.01%, and Nasdaq 100 Futures rose 0.08%.
Forex at 06:15 AM ET
The U.S. Dollar Index declined 0.04% to 104.22, USD/JPY was down 0.11% at 155.92, and USD/AUD fell 0.05% to 1.5038.
Photo by Pavel Bobrovskiy via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.