Key Takeaways:
- Bitcoin slipped to $105,237 as investors rotated away from risk amid geopolitical tensions.
- Gold eased to $3,361.90, reflecting waning safe-haven demand despite continued global uncertainty.
- U.S. equities advanced, with the Nasdaq leading gains as tech stocks like Meta and Nvidia surged.
- OPEC+ confirmed a 411,000 bpd supply hike for July, but oil prices remained under pressure.
On June 3, major U.S. indices flashed green despite intensifying geopolitical tensions, fresh tariff shockwaves, and renewed volatility in energy markets. Risk sentiment remained firm, even as Bitcoin lost steam at $105,000 and gold’s recent rally waned.
Geopolitical tensions escalated sharply as Ukraine launched a large-scale drone offensive deep into Russian territory, targeting four airbases and reportedly damaging or destroying dozens of strategic bombers in an operation estimated to have caused $7 billion in losses. The move marks one of Kyiv’s boldest attacks yet, further straining already fragile ceasefire efforts. Meanwhile, Russia intensified its assaults, with deadly strikes on eastern Ukraine and a missile attack on a military training ground that killed 12 Ukrainian soldiers. Peace talks in Istanbul remain stalled as Moscow demands territorial concessions, casting doubt on any near-term resolution.
On the trade front, tensions escalated after a federal court struck down parts of Donald Trump’s sweeping tariff framework, ruling that several measures exceeded the president’s legal authority under existing trade laws. In response, Trump moved to reinstate and expand the tariffs, setting steel and aluminum import tariffs at 50%. The renewed push has sparked backlash from global trade partners and reignited fears of a wider trade war, with export-heavy sectors in Asia and Europe already showing signs of pressure.
Oil prices remained under pressure despite OPEC+ announcing a production hike of 411,000 barrels per day for July, a move intended to regain market share.
Global Indices:
S&P 500: 5,935.95 (+0.41%)
Dow Jones: 42,305.48 (+0.08%)
Nasdaq: 19,242.61 (+0.67%)
Nikkei 225: 37,510.0 (+0.05%)
Euronext 100: 1,578.33 (−0.06%)
FTSE 100: 8,791.7 (−0.26%)
Cryptocurrencies Market:
Bitcoin (BTC): $105,237 (−0.63%)
Ethereum (ETH): $2,591.59 (−0.61%)
Solana (SOL): $163.35 (−1.88%)
Commodities:
Gold: $3,361.90 (−0.62%)
Silver: $34.16 (−1.72%)
WTI Crude: $62.76 (−0.34%)
Brent Crude: $63.55 (−0.3%)
Individual Stocks:
Meta Platforms (META): $670.90 (+3.62%)
NVIDIA (NVDA): $137.38 (+1.67%)
Tesla (TSLA): $342.69 (−1.09%)
Apple Inc. (AAPL): $201.70 (+0.42%)
Amazon.com (AMZN): $20.65 (+0.80%)
Microsoft Corp. (MSFT): $461.97 (+0.35%)
Forex:
EUR/USD: 1.1423 (−0.14%)
GBP/USD: 1.3524 (−0.14%)
USD/JPY: 142.93 (+0.2%)
Market Wrap-Up:
Wall Street edged higher despite escalating geopolitical tensions and renewed tariff risks. The S&P 500 rose 0.41%, led by gains in tech, while Bitcoin slipped below $105K and gold retreated as safe-haven demand cooled. Global markets remain on edge amid deepening conflict in Ukraine, Trump’s tariff escalation, and fresh OPEC+ supply adjustments.
Read more: Elon Musk’s X Launches XChat With Bitcoin-Inspired Encryption
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