FX.co ★ Wall Street Inches Up Amid Weak Jobs Data, Trade Jitters

On Wednesday, U.S. stocks experienced a slight uptick as investors processed weak economic reports while closely monitoring ongoing trade developments. The S&P 500 saw a modest increase of 0.1%, the Nasdaq advanced by 0.4%, and the Dow rose by approximately 50 points, marking a third consecutive day of gains. Technology stocks remained a key driver of this upward trend, although investor excitement was dampened by lackluster employment figures. Notably, Nvidia's stock climbed 3%, overtaking Microsoft to reclaim its status as the world's most valuable publicly traded company. Private-sector employment saw an increase of only 37,000 in May, marking the slowest growth in over two years. Additionally, the ISM services index fell to 49.9, indicating contraction for the fourth time within a five-year span. Meanwhile, President Trump intensified trade uncertainties by doubling tariffs on imported steel and aluminum. He also expressed dissatisfaction with Federal Reserve Chair Jerome Powell and advocated for interest rate cuts. Market participants are attentively awaiting a potential discussion between President Trump and China's President Xi Jinping, as tensions over tariffs and trade conditions with China escalate.