US stocks end mixed amid concerns on labor market slowdown

US equities ended on a mixed note on June 4, following negative data on private sector jobs, which raised investor concerns over a potential slowdown in the labor market.

The Dow Jones Industrial Average edged down 0.22%, or 91 points, to 42,428 points, snapping a four-session winning streak.

The S&P 500 Index remained flat at 5,970 points, while the Nasdaq Composite rose around 0.32%, or 61 points, to 19,460 points.

As for the European indices, the STOXX Europe 600 added 0.45% to 551 points, capped by the 0.45% decline in automobiles & parts index.

The DAX 40 rose 0.75% to 24,276 points, while the CAC 40 gained 0.55% to 7,804 points. The FTSE 100 inched up 0.15% to 8,801 points.

In Japan, the Nikkei 225 advanced 0.80% to 37,747 points. TOPIX added 0.50% to 2,785 points.

In the oil market, Brent crude futures for August delivery fell by 1.17%, or 77 cents, to $64.86 per barrel. WTI crude futures for July delivery declined by 0.88%, or 56 cents, to $62.85 per barrel.

As for gold, August futures increased by 0.65%, or $22.10, to $3,399.20 per ounce.

The US private sector added only 37,000 jobs in May, well below the expected 110,000 jobs, and compared unfavorably with the downwardly revised figure of 60,000 jobs in April. This signals a potential slowdown in the labor market, according to the monthly ADP report released today.

Additionally, data from the Institute for Supply Management (ISM) revealed that the US services sector PMI dropped to 49.9 in May, down from 51.6 in April, in contrast to expectations of a rise to 52 points. This marks the first time the index enters into contraction since June 2024.