U.S. stocks were nearly flat as investors weighed the latest economic growth outlook from the Economic Co-operation and Development Agency.
The Dow Jones industrial average fell 41 points since swinging the negative in the open, with the S&P 500 up 0.04%. Meanwhile, Nasdaq’s composites rose 0.35%. All three major indices closed can be higher after riding a tariff-driven swing.
Bitcoin (BTC) rose 1.66% as the Bulls began to bolster over $105,000 as stocks struggled amid a slight risk-off sentiment. His benchmark digital assets fell to a low of $103,700 earlier in the day.
Elsewhere, crude oil prices have also risen, but in the bond market, Treasury yields have fallen for 30 and 10 years. Gold has given up on some profits.
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The market outlook unfolds in an OECD report on Tuesday, June 3rd.
The Paris-based organization’s forecasts coincided with stocks that weathered tariff-related volatility to close the green on Monday, but the underlying trend suggests that the global economy is heading towards its weakest growth since the symbiotic pandemic.
In its latest report, the OECD warned that global economic growth is expected to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026. In the US, the OECD project warned that annual total product growth will decline from 2.8% in 2024 to 1.6% in 2025 and 1.5% in 2026.
“The global economy has shifted from an era of resilient growth and declining inflation to a more uncertain pathway,” said OECD Executive Director Matthias Corman. “Our latest economic outlook shows that today’s policy uncertainty is weakening trade and investment, reducing consumer and business confidence, and restraining growth outlook.”
Tariffs and continued uncertainty can increase further negativity across financial markets by working with the collapse of trade agreements and consultations.
The market has already traced this trajectory amid US-China trade tensions, similarly postponing 50% tariffs in the European Union during an episode recommended and postponed by former US President Donald Trump.
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