In a sign of the economy’s cooling, a survey showed that manufacturing activity fell to 48.7% in May, below the forecast of 49.6%.
The main Wall Street indices disparate operations this Monday, June 3 after the US Treasury bond yield declinewhich boosted mega-cap stocks, as investors assessed data that showed the manufacturing industry weakened for a second straight month in May.
In that context, the Dow Jones Industrial Average low 249.33 points, or 0.6%, to 38,436.99 units; the index S&P 500 give in 6.86 points, or 0.1%, to 5,270.65 units; and the Nasdaq Composite goes up 59.33 points, or 0.4%, to 16,794.35 units.
Wall Street: Chips and mega-cap stocks on the rise
Mega Cap Stocks Like Apple, Meta and Alphabet improved between 2.2% and 0.8%, while the return on 10- and five-year bonds They fell 2.5% each.
The leader of artificial intelligence, Nvidiaclimbed 3.6%, leading a 0.8% rise in the index of Philadelphia SE semiconductors. The executive president, Jensen Huangstated on Sunday that the Company’s next-generation AI chip platform to launch in 2026.
The papers of GameStop they shot themselves 28.6% after a weekend Reddit post by Keith Gill, known as “Roaring Kitty,” showed a $116 million bet on video game retailer.
Six of the 11 S&P 500 sectors rose, led by a 0.9% improvement in the technology sector, while energy lost 1.7%.
Wall Street: investors evaluate manufacturing activity data
As a sign of the economy’s cooling, a survey by the Institute of Supply Management showed that manufacturing activity fell to 48.7% in May, below the forecast 49.6%.
“AI, earnings and inflation drivers will continue to drive the market,” said Sam Stovall, chief investment strategist at CFRA Research.
Source: Ambito
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