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Global Market Quick Take: Asia – June 4, 2024
Stocks ended mixed, with the Nasdaq up and the Dow and Russell 2000 down, retracting after a positive opening that followed Friday's rally. The S&P 500 notably rebounded from its prior lift-off level. Despite initial steep drops—the Dow over 300 points and the Nasdaq by 250 points—both significantly recovered from their daily lows in a session marked by volatility. Energy stocks led losses in the S&P due to falling oil prices after OPEC+ extended output cuts. Tech and Communications sectors lost early gains while Materials, Industrials, and Financials also declined. Upcoming job data (JOLTs, ADP, Nonfarm Payroll) ... (full story)