Nasdaq Surges 100 Points; US Private Sector Adds 152,000 Jobs For May

Author: Avi Kapoor | June 05, 2024 09:48am

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.10% to 38,749.21 while the NASDAQ rose 0.60% to 16,958.12. The S&P 500 also rose, gaining, 0.32% to 5,308.21.

Check This Out: Keurig Dr Pepper To Rally Around 18%? Here Are 10 Top Analyst Forecasts For Wednesday

Leading and Lagging Sectors

Communication services shares rose by 1% on Wednesday.

In trading on Wednesday, real estate shares fell by 0.4%.

Top Headline

U.S. private employers added 152,000 new jobs last month. That's down from 192,000 in April, according to the latest ADP National Employment Report. The outcome missed market consensus estimates compiled by Econoday which expected a rise to 173,000.

Equities Trading UP

Actelis Networks, Inc. (NASDAQ:ASNS) shares shot up 591% to $3.25 after the company announced orders for cyber-hardened networking technology to be deployed at three US military bases.
Shares of ENDRA Life Sciences Inc. (NASDAQ:NDRA) got a boost, surging 116% to $0.1822. ENDRA Life Sciences shares dipped over 60% on Tuesday after the company announced the pricing of an $8 million public offering.
Nuvve Holding Corp. (NASDAQ:NVVE) shares were also up, gaining 105% to $1.16.

Equities Trading DOWN

MicroAlgo Inc. (NASDAQ:MLGO) shares dropped 34% to $7.89. MicoAlgo shares jumped around 670% on Tuesday after the company announced that it will jointly establish a micro-consciousness quantum research center with WiMi.
Shares of Latam Logistic Properties, S.A. (NYSE:LPA) were down 25% to $138.91.
Cue Health Inc. (NASDAQ:HLTH) was down, falling 25% to $0.0465.

Also Check This Out: Top 4 Consumer Stocks That May Implode In Q2

Commodities

In commodity news, oil traded up 0.2% to $73.42 while gold traded up 0.3% at $2,353.40.

Silver traded up 0.3% to $29.71 on Wednesday, while copper rose 0.1% to $4.54.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.7%, Germany's DAX gained 0.9% and France's CAC 40 rose 0.8%. Spain's IBEX 35 Index jumped 0.9%, while London's FTSE 100 rose 0.3%.

The HCOB Eurozone services PMI fell to 53.2 in May versus a preliminary reading of 53.3. The S&P Global UK services PMI declined to 52.9 in May compared to the one-year high level of 55 in the prior month. The HCOB Germany services PMI rose to 54.2 in May versus a preliminary reading of 53.9. The HCOB France services PMI declined to 49.3 in May versus 51.3 a month ago.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.89%, China's Composite Index falling 0.83%, Hong Kong's Hang Seng Index falling 0.10% and India's S&P BSE Sensex jumping 3.20%.

The HSBC India services PMI was revised lower to 60.4 in May versus a preliminary reading of 61.4, while Caixin China general services PMI rose to 54.0 in May from 52.5 a month ago. The au Jibun Bank Japan services PMI rose to 53.8 in May versus a preliminary level of 53.6, while the S&P Global Hong Kong SAR PMI declined to 49.2 in May.

The Australian economy grew by 0.1% quarter-over-quarter in the fourth quarter, while Judo Bank flash Australia services PMI business activity index declined to 52.5 in from 53.6 in the previous month.

Economics

U.S. mortgage applications fell by 5.2% in the final week of May.
U.S. private businesses added 152,000 workers to their payrolls in May, compared to market estimates of 173,000 and down from 192,000 in April,.

Now Read This: Owens & Minor, O’Reilly Automotive And 2 Other Stocks Insiders Are Selling

Posted In: ASNS HLTH LPA MLGO NDRA NVVE