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Today's Market
June 2, 2025 at 2:00 p.m. EST
Equities are flat-to-lower as a disappointed trading floor shakes off the end of the Knicks season. With a new tariff announcement on Friday night and several more geopolitical events throughout the weekend, the S&P 500 opened about flat with Friday’s close but was soon down about 1% following the ISM Manufacturing survey. However, equities quickly moved off the lows and have traded in a tight range for most of the day. As we head to print, the S&P 500 is flat. Steel/mining names are among the best performers today on the tariff news. Energy is the leading sector as oil rallies. Tech is also among the better performers driven by semis. Healthcare is mostly lower but Biotech is outperforming on M&A news flow, while treasury yields are higher by ~5bp across the curve.
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