{"id":1022,"date":"2026-06-04T22:40:17","date_gmt":"2026-06-04T22:40:17","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1022"},"modified":"2026-06-04T22:40:17","modified_gmt":"2026-06-04T22:40:17","slug":"trading-day-who-needs-tech","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1022","title":{"rendered":"Trading Day: Who needs tech?"},"content":{"rendered":"<div><div>ORLANDO, Florida, June 4 (Reuters) &#8211; Investors on Thursday latched onto the more encouraging aspects of mixed signals surrounding an end to war in the Middle East, pushing stocks higher and oil prices lower. Worries over AI weighed on tech, but other sectors did the heavy lifting, as attention now turns to U.S. employment data on Friday.<\/div><div>In \u200bmy column today, I look at the U.S. labor market ahead of payrolls. It can hardly be characterized as strong, and some incoming \u200cnumbers are warning flags. But overall, the data are pointing upward, suggesting a corner has been turned.<\/div><div>If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.<\/div><div><ol><\/ol><\/div><div>Today&#8217;s \u200bKey Market Moves<\/div><div><ul><\/ul><\/div><div>Today&#8217;s Talking Points<\/div><div>* Calm and resilient<\/div><div>Wall Street&#8217;s performance on Thursday was noteworthy. After opening \u200bdown more than 1%, the Nasdaq closed flat, and the S&amp;P 500 also posted a percentage point low-to-close rebound. The Dow didn&#8217;t bother with the turnaround &#8211; it just rose, put on the afterburners, and closed up 1.7% at a new high.<\/div><div>Investors are buying any dip, almost regardless of the geopolitical, AI or macro news flow. And why not? Financial conditions are the loosest in \u200byears, and the VIX is around its lowest levels of the year. Zoom out, and 3-month euro\/dollar implied vol&#8217;s dip below 5% this week for the \u200bfirst time since 2021 shows how serene markets are. At least on the surface.<\/div><div>* Private chancer<\/div><div>Negative headlines in private credit space are surfacing again. Investors in Blackstone&#8217;s flagship $79 billion private credit \u200cfund sought \u2060to pull out 10% of shares in Q2, up from 7.9% in Q1. Blackstone, the world&#8217;s largest alternative asset manager, capped withdrawals at 5%.<\/div><div>Cliffwater said on Tuesday that investors in its $31 billion private credit fund tried to redeem 17% of shares in Q2, but they were also capped at 5%. There have been plenty of similar examples in recent months, and there are likely to be plenty more.<\/div><div>* Bit-part player<\/div><div>Bitcoin hit a 4-month low on Thursday around $61,000. It has lost half its value since peaking \u200babove $126,000 in October, and is down \u200b20% in the past two weeks. \u2060The move has snowballed after Michael Saylor&#8217;s Strategy, the largest corporate holder of bitcoin, said it has sold for the first time since 2022.<\/div><div>But some bulls are not losing faith. Geoff Kendrick at Standard Chartered, one of the most vocal crypto \u200badvocates, is sticking with his call of $100,000 by the end of the year. &#8220;When we look back at the end \u200bof 2026 with bitcoin \u2060at $100k we will say this was the buying zone we all wanted,&#8221; he writes. Watch this space.<\/div><div>What could move markets tomorrow?<\/div><div><ul><\/ul><\/div><div>Want \u200bto receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here.<\/div><div>Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles<svg><\/svg><span>, opens new tab<\/span>, \u200bis committed to integrity, independence, and freedom from bias.<\/div><div>Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Jamie McGeever\" class=\"wp-image-347\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/05\/827ac9285a5eea2cd87d79c3e280a384.avif\"\/><\/figure>\n<\/noscript><\/div><div>Jamie McGeever<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1020\">White House to replace National Security Council\u2019s Europe chief amid broader shake-up<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1018\">Dow claims record closing high, S&amp;P 500 advances; chip selloff weighs on Nasdaq<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1016\">Trump heads into summer facing a rare run of resistance<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Investors on Thursday latched onto the more encouraging aspects of mixed signals surrounding an end to war in the Middle East, pushing stocks higher and oil prices lower. Worries over AI weighed on tech, but other sectors did the heavy lifting, as attention now turns to U.S. employment data on Friday.<\/p>\n","protected":false},"author":1,"featured_media":1021,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[11],"class_list":["post-1022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-artificial-intelligence"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trading Day: Who needs tech? - Reliable Moving Crews<\/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:\/\/reliablemovingcrews.com\/?p=1022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trading Day: Who needs tech? - Reliable Moving Crews\" \/>\n<meta property=\"og:description\" content=\"Investors on Thursday latched onto the more encouraging aspects of mixed signals surrounding an end to war in the Middle East, pushing stocks higher and oil prices lower. 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