US Stock Market Tries to Turn Positive Amid Surprise Jobs Report and Trump Warning

The stock market attempted to turn positive despite a surprise jobs report and a warning from Trump. Dow stocks rose alongside the S&P 500 and Nasdaq. Apple's stock fell.

US stock futures remained relatively flat on Wednesday as Wall Street largely shrugged off tariff risks despite President Trump doubling duties on steel and aluminum imports. Futures for the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hovered near their opening levels, indicating a cautious stance among investors [1].

The increase in tariffs, which took effect on Wednesday, was met with a largely dismissive response from the market. The UK remained exempt from the tariff hike, and the market seemed more focused on the potential impact of the tariffs on the broader economy. The US-China trade talks, which have been ongoing, have also faced setbacks, with President Trump expressing difficulty in reaching a deal with President Xi [1].

Investor sentiment was bolstered by the previous day's upbeat JOLTS job openings report, which indicated that the economy was holding up despite the trade policy. The market is now awaiting the release of ADP employment data on Wednesday and the closely watched May jobs report on Friday. These reports will provide further insight into the labor market's resilience in the face of Trump's trade policy [2].

Apple Inc. (AAPL) saw its stock fall during the session, although the overall market remained positive. The tech giant has been under scrutiny for its recent hiring practices and the potential impact of tariffs on its supply chain. However, the broader market's resilience suggests that investors are optimistic about the economy's ability to weather the trade policy storm [3].

The stock market's performance on Wednesday underscores the ongoing tension between the potential negative effects of tariffs and the positive impact of a strong labor market. As the market continues to digest the latest data, investors will be closely watching for any signs of a slowdown that could prompt a change in monetary policy from the Federal Reserve.

References:
[1] https://uk.finance.yahoo.com/news/stock-market-today-dow-sp-500-nasdaq-futures-hold-steady-as-trump-tariffs-test-wall-street-optimism-233247257.html
[2] https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-nudge-higher-as-jobs-data-puts-tariffs-in-the-shade-233247168.html
[3] https://seekingalpha.com/article/4792018-what-investors-should-look-out-may-2025-job-report