Wall Street: Dow Declines, Ending Four-Day Winning Streak

The major indices on Wall Street presented a mixed picture today (June 4, 2025), following new data about the U.S. economy. Specifically, the Dow Jones Industrial Average recorded a decline of 0.22%, closing at 42,427.74 points and interrupting its four-session winning streak. Conversely, the benchmark S&P 500 remained nearly unchanged with a marginal increase of 0.01% to 5,970.81 points, while the tech-heavy Nasdaq Composite rose by 0.32%, closing at 19,460.49 points. Simultaneously, U.S. Treasury yields fell as weaker-than-expected economic data reinforced expectations that the Federal Reserve might implement two interest rate cuts in 2025 to avert a potential recession. New signs of slowing economic activity were confirmed by the services sector, which showed contraction, and the labor market appeared to lose momentum. The ADP report for the private sector revealed an increase of just 37,000 jobs in May, compared to revised figures of 60,000 in April and significantly below analysts’ expectations of approximately 110,000 new jobs according to a Dow Jones survey. This report comes just days before the release of official government employment data outside the agricultural sector, expected on Friday, with estimates pointing to an increase of 125,000 jobs in May.