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Nasdaq, S&P Buoyed by Nvidia; Dow Slips | Wall Street Today

Moomoo Recap US wrote a column · Jun 3 15:20
Nasdaq, S&P Buoyed by Nvidia; Dow Slips | Wall Street Today
US stocks were mixed, with the $Dow Jones Industrial Average(.DJI.US)$ weighed down by weak manufacturing data, while the $S&P 500 Index(.SPX.US)$ and $Nasdaq Composite Index(.IXIC.US)$ got a boost from gains in $NVIDIA(NVDA.US)$.
Trading in some of the stocks, including $Berkshire Hathaway-A(BRK.A.US)$ were temporarily halted before 10 a.m. Monday in New York after a technical glitch that sent shares in the company led by billionaire Warren Buffett tumbling as much 99.97%. The New York Stock Exchange said the technical problem that also affected $Barrick Gold(GOLD.US)$, $Chipotle Mexican Grill(CMG.US)$ among other stocks, was resolved.  Trades executed during the glitch were likely invalidated, MarketWatch reported, citing experts it didn't name.
The S&P 500 added 0.1% to 5,283.40, while the tech-heavy Nasdaq Composite gained 0.6% to 16,828.67. The Dow slipped 0.3% to 38571.03
Economic activity in the manufacturing sector shrank in May for a second straight month as demand slowed, according to the Institute of Supply Management (ISM). The gauge for new orders also contracted while the production index slipped 1.1 percentage points, even as it remained in expansionary territory.
The ISM manufacturing purchasing managers' index (PMI) fell to 48.7, sinking deeper below the 50 level that delineates expansion and contraction.
“Demand remains elusive as companies demonstrate an unwillingness to invest due to current monetary policy and other conditions," Timothy R. Fiore, chair of the ISM manufacturing business survey committee said in a report Monday.
Gold futures gained as Treasury yields dropped and the dollar weakened, boosting the appeal of the precious metal that doesn't offer holders any income.
Crude oil fell after the Organization of Petroleum Exporting Countries and its allies, known as OPEC+ outlined on Sunday their plans to gradually unwind their production cuts through late 2025, according to a Bloomberg report.
Nasdaq, S&P Buoyed by Nvidia; Dow Slips | Wall Street Today

$NVIDIA(NVDA.US)$ shares rallied after the AI-leader unveiled at the Computex conference in Taipei the Rubin platform that will succeed the upcoming Blackwell platform, featuring new graphic processing units (GPUs), a new Arm-based central processing unit - Vera- and advanced networking. The stock is the best performer on Nasdaq 100.
$Autodesk(ADSK.US)$'s stock rallied after the design software company announced that there won't be an adjustment to its previous financial results following an internal investigation into accounting issues involving its free cash flow and operating margin practices. The stock was the second-biggest gainer on the $NASDAQ 100 Index(.NDX.US)$.
$Moderna(MRNA.US)$and $Merck & Co(MRK.US)$ shares advanced after the two pharmaceutical companies reported positive results from their Phase 2b study that evaluated mRNA-4157 in combination with Keytruda in patients with high-risk skin cancer that was surgically removed.
$Paramount Global-B(PARA.US)$ shares climbed after reports that its nonvoting shareholders would be given the option to cash out at a premium under Skydance Media's revised offer to buy Shari Redstone's National Amusements., which has a majority voting interest the steaming and media company. The stock is Monday's biggest gainer on the S&P 500.
$GameStop(GME.US)$ shares climbed after meme stock trader Keith Gill, known as "DeepF------Value" on Reddit posted on the social media platform his holdings, which included about $116 million in shares and $65.7 million in call options expiring on June 21. $AMC Entertainment(AMC.US)$'s stock also surged.

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