The US ADP private sector employment data for May dropped to its lowest level in two years, prompting President Trump to urge the Federal Reserve to cut interest rates. Investors are now focused on the upcoming non-farm payroll data. On the recent trading day, US stock indices showed mixed results.
The Dow Jones Industrial Average, after a four-day winning streak, fell by 91 points or 0.2% to close at 42,427 points. The S&P 500 Index remained flat, gaining less than a point to end at 5,970 points. Meanwhile, the Nasdaq Composite rose by 61 points or 0.3%, closing at 19,460 points.
Meta (META), part of the "Magnificent Seven," led the gains with an increase of over 3%. Nvidia (NVDA), which recently surpassed Microsoft (MSFT) to become the world's most valuable public company, rose by 0.5%. Alphabet (GOOG) bounced back with a 1% rise. On the other hand, Tesla (TSLA, Financial) saw a 15% year-over-year drop in China-made car sales last month, marking an eight-month decline, causing shares to fall over 3%. CrowdStrike (CRWD) issued a fiscal quarter earnings guidance below expectations, resulting in a 5.8% drop, making it the worst performer among the Nasdaq 100 components.
