Stock Market News Today, 6/2/25 – Futures Dip as U.S.-China Trade Tensions Rise

U.S. stock futures fell early Monday as investor concerns over the U.S.-China trade war rose again, with new tariff disputes and stalled negotiations. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.71%, 0.47%, and 0.52%, respectively, at 4:29 a.m. EST, June 2.

This follows a strong performance in May, where the S&P 500 surged by 6.15%, marking its best monthly increase since November 2023. The Dow Jones and the Nasdaq Composite (NDAQ) gained 3.94% and 9.56%, respectively, last month.

Adding to the trade friction, China has countered U.S. claims of violating the Geneva trade deal, instead blaming Washington for failing to uphold the deal. Also, China said that the U.S. is blocking Chinese tech exports, including AI chips and semiconductor tools.

Further, the U.S. plans to double steel tariffs to 50%, which could hurt manufacturing and global supply chains.

It must be noted that the National Economic Council director said President Trump and China’s President Xi might undertake trade talks this week, but no exact date has been set.

Looking ahead, investors are awaiting several key economic reports this week for insights into the impact of tariffs on the U.S. economy, with particular attention on Friday’s key May Nonfarm Payrolls data.

Today, May’s S&P final U.S. manufacturing Purchasing Managers’ Index (PMI), Construction spending for April, and Auto Sales reports will be made public.

This week’s corporate earnings lineup includes major players, such as Nio (NIO), Dollar General (DG), CrowdStrike (CRWD), Hewlett Packard Enterprise (HPE), Dollar Tree (DLTR), Five Below (FIVE), Victoria’s Secret (VSCO), Broadcom (AVGO), DocuSign (DOCU), and Lululemon Athletica (LULU).

Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.442%. Simultaneously, WTI crude oil futures are trending higher, hovering near $62.49 per barrel as of the last check.

At the same time, the Gold Spot U.S. Dollar Price rose to nearly $3,350 per ounce on Monday, amid fresh tariff threats from President Trump and rising tensions in the Russia-Ukraine war.

Elsewhere, European indices were in the red today, as geopolitical tensions weighed on investor sentiment.

Asia-Pacific Markets Ended Lower Today

Asia-Pacific indices were in the red today, reacting to President Trump’s plans to raise steel import tariffs from 25% to 50% starting Wednesday, to reduce reliance on China.

At the same time, the Hong Kong index was down 0.57%. Also, Japan’s Nikkei and Topix indices declined 1.3% and 0.87%, respectively.

Importantly, China’s stock market was closed today for the Dragon Boat Festival holiday.

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