On June 1, 2026, U.S. stock indexes experienced declines: the S&P 500 Index fell by 0.57%, the Dow Jones Industrial Average dropped 0.58%, and the Nasdaq 100 Index decreased by 0.60%. This downward trend came amidst heightened tensions between the U.S. and Iran, following missile and drone attacks targeting U.S. military bases in Bahrain and Kuwait. These events pushed WTI crude oil prices up more than 1% to a 1.5-week high.
In economic news, the U.S. labor market showed signs of strength, with the May ADP employment change rising by 122,000, surpassing the expected 120,000. Meanwhile, MBA mortgage applications fell by 2.5% in the week ending May 29, with a notable decline in both purchase and refinancing applications. Despite the market fluctuations, 84% of the 485 S&P 500 companies that reported Q1 earnings have exceeded estimates, with projections indicating a 12% year-over-year increase for Q1 earnings.
Overseas markets presented mixed results; the Euro Stoxx 50 was down 0.63%, while Japan’s Nikkei closed up by 2.5%. The yields on U.S. 10-year Treasury notes rose to 4.489%, reflecting increased inflation expectations driven by the geopolitical climate and stronger-than-expected labor data.
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