Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAmalya Dubrovsky and Brett LoGiuratoUpdated Fri, June 5, 2026 at 6:33 PM GMT+2 1 min readUS stocks fell sharply on Friday, with tech leading the way down after the release of job market hasn't managed since it began whipsawing last summer.Data on private payroll growth from ADP already showed some strength for May: Private employers added 122,000 jobs for the month, with hiring taking place across eight of the 10 supersectors ADP tracks. A month earlier, job openings soared to 7.62 million, a sharp increase from March.Still, hiring declined in April, federal government data showed, and the increase in openings was concentrated in the professional and business services sector. The Federal Reserve's Beige Book for May, released Wednesday, also noted that "employment showed little to no change" in 11 of the Fed's 12 districts.Read more here.Today at 7:07 AM UTCRian HowlettS&P denies SpaceX, other mega-cap IPOs from rapid index entryBloomberg reports:S&P Dow Jones Indices will keep its existing eligibility requirements for main benchmarks like the S&P 500 Index, rejecting proposals that would have made it faster for mega-cap companies such as Elon Musk's SpaceX to gain rapid entry into the benchmark after going public.The index provider in a press release Thursday said it will not shorten the 12-month seasoning period for newly public companies it currently has or waive existing profitability and public-float requirements based on a company's size, diverging from a broader industry shift embraced by rivals Nasdaq Inc. and FTSE Russell.SpaceX logo is seen in this illustration taken June 3, 2026. REUTERS/Dado Ruvic/Illustration · REUTERS / REUTERSThe decision arrives as Wall Street grapples with a new reality: some companies are reaching unprecedented sizes before they ever enter public markets. The consultation, launched earlier this year, effectively asked whether index rules written for a different era should bend to accommodate companies that now arrive at a scale once reserved for mature blue chips in what has become known as the "fast entry" in industry parlance.The push for quicker inclusion has raised concerns among some investors who say rules around profitability, float and trading history exist precisely to prevent benchmarks from chasing hype. Furthermore, adding IPOs too quickly, they say, could expose passive funds to greater volatility and force them to buy shares before reliable market pricing is fully established.Read more here.Today at 6:20 AM UTCRian HowlettOil holds after pullback from gains due to Israeli attacks in LebanonBloomberg reports:Oil steadied after its first decline this week, as optimism over US-Iran peace talks weighed against uncertainty surrounding a ceasefire deal between Israel and Lebanon.Brent (BZ=F) traded around $95 a barrel after falling 2.8% on Thursday, while West Texas Intermediate (CL=F) was near $93. President Donald Trump said that talks with Iran were going well, despite Tehran-backed Hezbollah rejecting a US-brokered ceasefire deal between Israel and Lebanon.WTI has gained more than 6% this week after uncertainty over the progress of the negotiations eroded some of the earlier optimism for a deal that would lead to a resumption of oil flows through the strait — which carries about a fifth of the world's crude and liquefied natural gas in peacetime. Futures are still down about a fifth since early April — when the US and Tehran agreed to a ceasefire that ended more than five weeks of fighting.There was no sign of progress in talks between Tehran and Washington, with Israel's continued military strikes in Lebanon becoming a major sticking point.Read more here.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info