{"id":64414,"date":"2025-06-05T02:00:28","date_gmt":"2025-06-05T07:00:28","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=64414"},"modified":"2025-06-05T15:07:48","modified_gmt":"2025-06-05T20:07:48","slug":"market-trends-june-5","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/","title":{"rendered":"U.S. Dollar Crumbles as Jobs Fade"},"content":{"rendered":"<p>Downloads are available\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-Public-Materials-May-2025A.zip\">here<\/a>. TradeStation\u2019s ideas on TradingView are\u00a0<a href=\"https:\/\/www.tradingview.com\/broker\/TradeStation\/ideas\/\">available here<\/a>.<\/p>\n<p>Check out our next \u201c<a href=\"https:\/\/streamyard.com\/watch\/uRvXkjGS9kMS\" target=\"_blank\" rel=\"noreferrer noopener\">State of the Market<\/a>,\u201d on Monday, 6\/9.<\/p>\n<h2 class=\"wp-block-heading\">Sizing Up the Market<\/h2>\n<ul>\n<li>S&amp;P in range:\n<ul>\n<li>5,994: 2\/27 high<\/li>\n<li>5,773: January low<\/li>\n<\/ul>\n<\/li>\n<li>Prices holding rising 8-day EMA<\/li>\n<li>9-day rate of change (ROC) turns higher again after pause<\/li>\n<li>Intermarket:\n<ul>\n<li>Treasury yields retreat after weak ADP payrolls data<\/li>\n<li>U.S. dollar index near April&#8217;s 3-year low<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div id=\"attachment_64424\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-64424\" class=\"wp-image-64424 size-large\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-1024x490.jpg\" alt=\"\" width=\"1024\" height=\"490\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604-1080x516.jpg 1080w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250604.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-64424\" class=\"wp-caption-text\"><em>S&amp;P 500, daily chart, with select patterns and indicators.<\/em><\/p><\/div>\n<h2>Bullish Sector Mix?<\/h2>\n<ul>\n<li>Low volatility, low correlation \/ &#8220;stock picker&#8217;s market&#8221; (See below)<\/li>\n<li>Industrials: First sector to hit new 52-week highs post-trade war<\/li>\n<li>Precious metals <em>AND<\/em> industrial metals both outperform in the last 1-2 weeks<\/li>\n<li>Semiconductors outperform in the last 1-2 weeks<\/li>\n<li>Biotechs potentially <a href=\"https:\/\/www.tradestation.com\/insights\/2025\/06\/04\/chart-biotechs-broken-downtrend\/\">break downtrend<\/a><\/li>\n<li>Global stocks outperforming\n<ul>\n<li>See our <a href=\"https:\/\/www.tradestation.com\/insights\/2025\/03\/06\/market-trends-march-6\/\">special report on ADRs from 3\/6<\/a>, including custom workspace.<\/li>\n<\/ul>\n<\/li>\n<li>2-week laggards: Utilities, energy, financials, healthcare, consumer discretionary<\/li>\n<\/ul>\n<h2>News &amp; Views<\/h2>\n<ul>\n<li>S&amp;P 500 price targets raised:\n<ul>\n<li>Barclays: 5,900 to 6,050<\/li>\n<li>Deutsche Bank: 6,150 to 6,550<\/li>\n<\/ul>\n<\/li>\n<li>Slowing Growth?\n<ul>\n<li>Continuing jobless claims for week ended 5\/9 hit 1.919mln, the highest since November 2021<\/li>\n<li>ADP private-sector payrolls +37K in May vs 115K estimate. 2nd lowest reading since June 2020.<\/li>\n<li>Fed Beige Book: U.S. economy shrinks in last 6 weeks amid &#8220;lower labor demand, &#8230; declining hours.&#8221;<\/li>\n<li>NY, Boston, Philadelphia report declining activity.<\/li>\n<li>Overseas data:\n<ul>\n<li>China&#8217;s Caixin manufacturing misses estimates in May<\/li>\n<li>Euro zone inflation +1.9% vs +2% estimate<\/li>\n<li>May German unemployment higher than expected: 34K vs 12K estimate<\/li>\n<\/ul>\n<\/li>\n<li><em>Has Fed hawkishness peaked?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Inflation inputs:<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-63479\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-1024x1024.jpg\" alt=\"\" width=\"500\" height=\"500\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-1024x1024.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-300x300.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-150x150.jpg 150w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-768x768.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt-440x440.jpg 440w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Volatility-cycle-art-btt.jpg 1080w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/>\n<ul>\n<li>Redfin: Median rents -1% yoy in May<\/li>\n<li>Oil drops after OPEC+ production increase, gasoline inventory build<\/li>\n<\/ul>\n<\/li>\n<li>OilPrice.com: EIA sees &#8220;record supply and sliding demand.&#8221;<\/li>\n<li>Morgan Stanley: U.S. dollar to fall 9% in next year on expected Fed cuts<\/li>\n<li>CNBC: Private-equity firms turning bullish on Europe<\/li>\n<li>IATA cuts global air cargo forecast amid trade wars<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Upcoming Events<\/h2>\n<ul>\n<li>Earnings tonight: <strong>*<em>AVGO*<\/em><\/strong> LULU<\/li>\n<li>Fri 6\/6: <strong><em>*Non-farm payrolls*<\/em><\/strong><\/li>\n<li>Mon 6\/9: AAPL WWDC begins (runs all week)<\/li>\n<li>Wed 6\/11: <strong>*<em>CPI*<\/em><\/strong>, crude-oil inventories<\/li>\n<li>Thu 6\/12: PPI, jobless claims<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Downloads are available\u00a0here. TradeStation\u2019s ideas on TradingView are\u00a0available here. Check out our next \u201cState of the Market,\u201d on Monday, 6\/9. Sizing Up the Market S&amp;P in range: 5,994: 2\/27 high 5,773: January low Prices holding rising 8-day EMA 9-day rate of change (ROC) turns higher again after pause Intermarket: Treasury yields retreat after weak ADP [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":63321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1276],"tags":[],"class_list":["post-64414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Dollar Crumbles as Jobs Fade | Market Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Dollar Crumbles as Jobs Fade | Market Insights\" \/>\n<meta property=\"og:description\" content=\"Downloads are available\u00a0here. 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Sizing Up the Market S&amp;P in range: 5,994: 2\/27 high 5,773: January low Prices holding rising 8-day EMA 9-day rate of change (ROC) turns higher again after pause Intermarket: Treasury yields retreat after weak ADP [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeStation\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-05T07:00:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-05T20:07:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"David Russell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:site\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Russell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/\",\"url\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/\",\"name\":\"U.S. Dollar Crumbles as Jobs Fade | Market Insights\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"datePublished\":\"2025-06-05T07:00:28+00:00\",\"dateModified\":\"2025-06-05T20:07:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/#primaryimage\",\"url\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"contentUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/06\/05\/market-trends-june-5\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tradestation.com\/insights\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. Dollar Crumbles as Jobs Fade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\",\"url\":\"https:\/\/www.tradestation.com\/insights\/\",\"name\":\"Market Insights\",\"description\":\"Fresh market commentary and actionable trade ideas.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\",\"name\":\"David Russell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"caption\":\"David Russell\"},\"description\":\"David Russell is Global Head of Market Strategy at TradeStation. 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