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Weekly NewsletterJune 3, 2025

This Week on Wall Street – Week of June 2nd

Markets began June on a relatively resilient note, with equities holding their ground despite renewed trade tensions.

This Week on Wall Street – Week of June 2nd

MARKET COMMENTARY

Markets began June on a relatively resilient note, with equities holding their ground despite renewed trade tensions. The S&P 500 and Nasdaq extended recent gains, supported by a more stable interest rate environment and improving consumer confidence. Investors shrugged off headline risk from rising U.S.-China and U.S.-EU tariff disputes, choosing instead to focus on upcoming economic catalysts that could shape the near-term outlook.

Attention now shifts to Wednesday’s ISM Services report and Friday’s nonfarm payrolls data, two key indicators that could sway expectations around growth and future Fed policy. While recent jobless claims and manufacturing data hinted at softness, the labor market has remained a pillar of strength. Any downside surprise in Friday’s jobs numbers, such as slowing payroll growth or an uptick in unemployment, could revive market volatility and reinforce rate cut bets.

Technical indicators suggest the S&P 500 is in consolidation mode, digesting gains from May’s rally. The index remains above key support around 5,785 but has struggled to break decisively higher, with resistance near 5,900s. With earnings season nearly wrapped and Fed policy on pause until next week’s FOMC meeting, this week’s macro data will likely set the tone for market direction heading into mid-June. 

Economic Releases This Week

Monday: S&P final U.S. manufacturing PMI, ISM Manufacturing Index, Construction Spending Survey, Jerome Powell Opening Remarks

Tuesday: Factory Orders, Job Openings, Chicago Fed President Speech, Federal Reserve Governor Speech, Dallas Fed President Remarks

Wednesday: ADP employment, Atlanta Fed President & Federal Reserve Governor at Fed Listens Event, S&P final U.S. services PMI, ISM services, Fed Beige Book 

Thursday:  Initial Jobless Claims, U.S Trade Deficit, U.S Productivity, Federal Reserve Governor Speech, Philadelphia Fed President Speech

Friday: U.S Employment Report, U.S Unemployment Rate, U.S Hourly Wages, Hourly Wages Year Over Year, Consumer Credit

Stories to Start the Week

Suspect in Colorado Incendiary Attack Charged With Federal Hate Crime

Universal, Warner and Sony Are Negotiating AI Licensing Rights for Music

Elon Musk’s Neuralink Raises $650 Million In Fresh Capital

Russia Sets Out Punitive Terms At Peace Talks With Ukraine

US Pushes Countries for Best Offers by Wednesday As Tariff Deadline Looms

About This Series

Last Week on Wall Street

Last Week on Wall Street is Waterloo Capital's weekly market recap, published every Monday morning to keep advisors and clients informed on the most significant developments from the prior trading week. Each edition synthesizes equity market performance, fixed income moves, macroeconomic data releases, and notable corporate earnings into a concise, actionable read — cutting through the noise so our readers can focus on what actually matters for long-term wealth management.

Our research team tracks the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, and 10-year Treasury yield as primary benchmarks, while also covering sector rotations, commodity swings, and policy shifts from the Federal Reserve and Washington. When major cross-asset moves occur — such as the historic gold selloff covered in this edition — we dig into the mechanics and the likely ripple effects on diversified portfolios, helping clients contextualize volatility without reacting impulsively.

Our Research Approach

Evidence-Based Perspective for Long-Term Investors

Waterloo Capital's investment research is grounded in fundamental analysis and long-term thinking. We believe that disciplined, evidence-based investing — anchored in each client's specific goals, risk tolerance, and time horizon — consistently outperforms reactive decision-making driven by short-term headlines. Our weekly commentary is designed to inform, not alarm: we put market moves in their proper historical context so that clients can hold conviction in their financial plans through periods of uncertainty.

As an SEC-registered investment advisor headquartered in Austin, Texas, with offices across the Southwest and Southeast, Waterloo Capital serves high-net-worth individuals, families, and institutions. Our advisors use proprietary research like this weekly recap as one input among many — alongside in-depth portfolio reviews, tax planning, and estate strategy — to deliver comprehensive wealth management tailored to each client relationship. To learn more about how our investment philosophy and ongoing market research can serve your financial future, contact our team directly.

Investment Disclosure: The information contained in this article is provided for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any security. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal. Waterloo Capital, LP is an SEC-registered investment advisor. Registration does not imply a certain level of skill or training. Please consult with a qualified financial professional before making any investment decisions.

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