Major Market Indexes Climb More Than 2%

David Mastroianni, strategic account executive at Adviser Investments, has the market analysis for Monday, June 3. All major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. 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.