S&P Rises to Start the Month

The S&P 500 rose on Monday as investors tried to carry the market’s strong May momentum into the new month.

The Dow Jones Industrials stumbled 37.94 points to 38,648.38.

The much-broader index gained 12.7 points to 5,290.21.

The NASDAQ jumped 110.48 points to 16,845.49.

Nvidia ticked more than 3% higher after announcing a new suite of artificial intelligence chips, succeeding the previous model by just three months. Elsewhere, The U.S. manufacturing sector showed signs of shrinkage last month, with the ISM manufacturing index measuring 48.7 in May, which sent yields lower. A reading below 50 is an indication of a contraction.

The first week of June is brimming with further economic updates. Investors also await private payroll data on Thursday from ADP followed by a key jobs report on Friday.

Prices for the 10-year Treasury gained a bit of ground, lowering yields to 4.43% from Friday’s 4.50%. Treasury prices and yields move in opposite directions.

Oil prices shed $1.71 to $75.28 U.S. a barrel.

Gold prices docked $15.00 to $2,360.80.

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