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All three major US indices finished the mid-week session in the red after data showed the labour market remains resilient with job openings rising to 10 million. This reinforced bets the Fed could raise rates further this month. The Dow ended over 130 points lower while the S&P and the Nasdaq lost 0.6% each. Also, investors awaited the vote in the House on the debt ceiling deal later in the day after it was cleared Tuesday in the House Rules Committee with a 7-6 majority. For the month of May, the Nasdaq Composite gained 5.8% due to a rally in artificial intelligence-related shares. However, the Dow lost 3.5% and the S&P 500 inched up 0.25% last month as broader economic concerns weighed on the market. Meantime, European shares extended their decline on Wednesday afternoon, with the Euro Stoxx 50 index retreating 1.7% to its lowest level since the end of March. For the month, the Euro Stoxx 50 lost 1.8%.
Summary for 01.06.2023
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