Market Commentary: Wednesday 4th June

Here is the corrected version with proper punctuation and clarity:

JOLTS Job Openings came in higher than expected yesterday (7.391M vs. 7.100M expected), ahead of the US Non-Farm Payroll report this Friday. This reinforces the Fed’s assertion that the labour market is in a good place. The optimism is helping market sentiment amid trade tensions, with the S&P 500 Index gaining for a second day, now trading at 5,970.31.

Also in the US, Trump has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to protect domestic manufacturers. This took effect at 12:01 a.m. Washington time on Wednesday and adds pressure ahead of the July 9th deadline for trade negotiations with key partners.

Central banks are buying gold at a record pace, estimated at around 80 metric tons per month. Spot gold is trading at 3,356—up 30% since the start of the year.

On the data front, we have the Bank of Canada's rate decision at 3:45 p.m.

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