On Wall Street, major stock indices rose and the USD strengthened during the session on June 3rd, amid investors closely monitoring developments in the U.S.-China trade war.
Last week, U.S. President Donald Trump accused China of violating the agreement to temporarily lower the high tariffs on each other's goods, while announcing plans to double tariffs on imported steel and aluminum into the U.S.
Ms. Kathleen Brooks, Director of Research at XTB, stated that trade tensions threatened to cause a strong sell-off on June 2nd; however, information about the potential phone call between President Trump and President Xi Jinping helped ease these concerns.
In the session on June 3rd, the Dow Jones Industrial Average rose by 0.5% to 42,519.64 points, the S&P 500 increased by 0.6% to 5,970.37 points, and the Nasdaq Composite index rose by 0.8% to 19,398.96 points.
Analyst David Morrison from Trade Nation pointed out that investors seem to be overlooking the negative economic news related to Trump's tariffs. Many believe that Trump's trade war will soon come to an end.
In the European stock market, major indices also saw gains, despite the collapse of the Dutch government. On June 3rd, Dutch Prime Minister Dick Schoof announced the dissolution of the government after Geert Wilders, the founder and leader of the far-right Freedom Party (PVV), decided to leave the four-party ruling coalition due to disagreements over immigration issues.
This development opens a period of political instability in the Netherlands, the fifth-largest economy in the European Union (EU) and an important exporting nation.
Official data released on June 3rd shows that inflation in the Eurozone in May 2025 has cooled to its lowest level in 8 months, returning below the European Central Bank's (ECB) 2% target. Analysts predict that the ECB may cut interest rates this week, adding further pressure on the euro.
In London, the FTSE 100 index rose by 0.2% to 8,787.02 points. The CAC 40 index in Paris increased by 0.3% to 7,763.84 points, while the DAX 30 index on the Frankfurt exchange rose by 0.7% to 24,091.62 points.
In the U.S., Nvidia's stock price increased by 2.8%, helping the company surpass Microsoft to become the largest market capitalization company in the U.S.
Overall, the focus of investors remains on the U.S. and China. It is expected that officials from both countries will hold talks on the sidelines of the OECD ministerial conference taking place on June 4th (local time) in Paris.
Also on June 3rd, the OECD lowered its global economic growth forecast for 2025 to 2.9%, down from the previous estimate of 3.1%. The organization also revised down its growth forecast for the U.S. economy from a prior estimate of 2.2% to 1.6%.
In Vietnam, at the end of the trading session on June 3rd, the VN-Index increased by 10.95 points (0.82%) to 1,347.25 points, and the HNX-Index rose by 2.77 points (1.22%) to 228.94 points.
According to: Bnews.vn