Evening Market Recap - Wednesday, 5-Jun

US equities ended higher Wednesday, near their best levels, with the Dow Jones, S&P500, and Nasdaq closing up 25bps, 118bps, and 147bps respectively. ADP private payrolls were up 152K, softer than the 175K consensus and the lowest print since January. May ISM services beat, with prices paid falling m/m to its lowest since March, while employment was slightly higher but still in contraction territory. Bank of Canada cut its benchmark rate by 25 bp, as expected, and ECB expected to cut tomorrow.