LIVE MARKETS-S&P 500 index nears 6,000, shies away
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
S&P 500 INDEX NEARS 6,000, SHIES AWAY
The main U.S. indexes are slightly higher early on Wednesday as much weaker-than-expected private payrolls data deepened concerns about the Trump administration's erratic trade policies pressuring the labor market.
Private payrolls increased by only 37,000 jobs in May, while economists polled by Reuters had forecast an increase of 110,000.
Adding to the mix, the May ISM non-manufacturing PMI, which was released at 10:00 a.m. ET, was 49.9 vs the 52 estimate, and 51.6 last month. Price paid was at 68.7 vs 65.1 last month.
Interest rate probabilities are now pricing in 54.7 basis points of Fed cuts through year-end, vs 52.5 bps just prior to the 10:00 a.m. data.
Meanwhile, U.S. President Donald Trump called China's Xi Jinping tough and "extremely hard to make a deal with" on Wednesday, exposing frictions after the White House raised expectations for a long-awaited phone call between the two leaders this week.
A majority of S&P 500 .SPX sectors are higher. Communication services .SPLRCL, up 1%, is posting the biggest rise. Utilities .SPLRCU, and consumer discretionary .SPLRCD, both off around 0.8%, are the weakest groups.
At its intraday high early on Wednesday of 5,990.48, the S&P 500 index had risen 20% off its April 8 close. The index has since slipped back to around 5,980.
In any event, the benchmark index is now down 2.67% from its 6,144.15 February 19 record close, and 2.72% from its 6,147.43 February 19 record intraday high.
Here is a snapshot of where markets stood around 10:12 a.m. ET:
(Terence Gabriel)
EARLIER ON LIVE MARKETS:
BENCHMARK TREASURY YIELD TURNING HEAVY AGAIN CLICK HERE
TAXING EXCESS DEFENCE PROFITS? CLICK HERE
HEALTHCARE "STAND OUT" SECTOR AMONG CHEAP-LOOKING EUROPEAN DEFENSIVES - RBC BLUEBAY AM CLICK HERE
TIME TO LOOK AT REDUCING RISK? CLICK HERE
STOXX 600 UP AS MINERS LEND SUPPORT, AUTOS DRAG CLICK HERE
EUROPE BEFORE THE BELL: MOOD BUOYANT EVEN AS TRADE TENSIONS BUBBLE CLICK HERE
NO 'BEST OFFERS' YET AS TARIFF DEADLINE LOOMS CLICK HERE
EarlyTrade06042025
Related Articles
National Debt Bomb Ignited? Musk Warns U.S. Will Be 1000% Bankrupt Without AI
TradingKey - Tesla (TSLA) CEO Elon Musk recently issued another warning regarding the rapidly ballooning U.S. national debt. He stated clearly that without artificial intelligence and robotics, the United States will inevitably head toward fiscal bankruptcy.
Tesla Stock Outlook: Competing With Rivian, Robotaxi Potential, and 2026 Prospects
There is much conversation about the prospect of investing in Tesla (TSLA) as we move closer to 2026. The volatility of its share price in 2025 is leading many investors to consider if they should purchase shares of Tesla given the alternatives available in terms of electric vehicles (Rivian, etc.).
Why Sanae Takaichi Winning Japan’s Diet Election Led to a Surge in Japanese Stock Indices？
TradingKey - Reports indicate that the ruling coalition led by Japanese Prime Minister Sanae Takaichi has secured a single-party majority in the parliamentary elections held on Sunday (February 8). Following the news, the yen weakened slightly, while the Nikkei Index surpassed 57,000 for the first t
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
