Stock Market News for Jun 2, 2025
U.S. stocks ended mostly unchanged on Friday in a volatile trading session as investors shook off trade war fears, while President Donald Trump slammed China for violating its initial trade agreement before sounding optimistic about reaching a trade deal. The Dow ended in the green, but the S&P 500 and Nasdaq finished in negative territory.
The Dow Jones Industrial Average (DJI) rose 0.1% or 54.34 points, to end at 42,270.07 points.
The S&P 500 shed less than 0.1% or 0.48 points to close at 5,911.69 points. Consumer staples and utility stocks were the biggest gainers, while consumer discretionary and energy stocks were the worst performers.
The Utilities Select Sector SPDR (XLU) gained 1%, while the Consumer Staples Select Sector SPDR (XLP) rose 0.9%. The Energy Select Sector SPDR (XLE) fell 0.9%, while the Consumer Discretionary Select Sector SPDR (XLY) declined 0.5%. Nine of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq lost 0.3%, or 62.11 points, to finish at 19,113.77 points.
The fear-gauge CBOE Volatility Index (VIX) was down 3.18% to 18.57. Decliners outnumbered advancers on the NYSE by a 1.14-to-1 ratio. On Nasdaq, a 1.43-to-1 ratio favored declining issues. A total of 19.34 billion shares were traded on Friday, higher than the last 20-session average of 18 billion.
Friday saw a volatile trading session, with all three major indexes opening lower after Trump slammed China for violating the preliminary trade agreement. However, stocks recovered in the afternoon after Trump said that he would have a discussion with the Chinese President and work out the trade disputes.
The uncertainties surrounding the tariffs and their impact after trade negotiations are over have kept markets volatile. Investors are now looking forward to a long-term trade deal between the United States and China but are unclear when it will be reached.
Shares of Tesla, Inc. (TSLA) declined 3.3%. Also, shares of Salesforce, Inc. (CRM) declined 0.6%. Salesforce has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
In economic data released on Friday, the Commerce Department reported that the personal consumption expenditure (PCE) index, the Federal Reserve's most favorite inflation gauge, climbed 0.1% sequentially in April and 2.1% on a year-over-year basis, after increasing 2.3% in March.
Core PCE, which strips out the volatile food and energy components, rose 0.1% sequentially in April and 2.5% from year-ago levels, the smallest advance since March 2021. The Federal Reserve tracks PCE for its 2% inflation target.
Meanwhile, consumer spending slowed in April, increasing 0.2% month over month after jumping 0.7% in the prior month. Year over year, consumer spending rose 2.1% in April.
Personal income rose 0.8% month over month in April.
All three major indexes rose for the week, with the S&P 500 and Dow ending 1.9% and 1.6% higher, respectively. The Nasdaq added 2% for the week.
It was one of the best months for all three indexes in more than two years. The S&P 500 and the Nasdaq gained 6.2% and 9.6% for the month, to record their best months since March 2023. The Dow gained 3.9% for the month.
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