David Mastroianni, strategic account executive at Adviser Investments, has the market analysis for Monday, June 3. All major U.S. stock indexes advanced following Fed Chairman Jerome Powell’s remarks. The Dow Jones Industrial Average and S&P 500 each rose 2.1% while the NASDAQ Composite gained 2.6%—marking the second-best single-day returns of 2019 for each index. Specifically, Powell noted that an interest-rate cut may be necessary to address potential ongoing impact of trade-related issues on the U.S. economy. Meanwhile, U.S. factory orders declined 0.8% in April, faring slightly better than the 0.9% slump analysts forecast. Significantly, the demand for durable goods, like cars and major appliances, fell more than 2% month-over-month.
