


U.S. stocks drifted to a mixed finish Monday following the latest signal showing the U.S. economy is slowing.
The S&P 500 edged up by 5.89 points, or 0.1%, to 5,283.40, even though the majority of stocks within the index fell. The Dow Jones industrial average dropped 115.29, or 0.3%, to 38,571.03, and the Nasdaq composite rose 93.65, or 0.6%, to 16,828.67.
Treasury yields also slid in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months, according to the Institute for Supply Management. Manufacturing has been hit particularly hard by high interest rates meant to get high inflation under control.
Halliburton dropped 5.3%, and Exxon Mobil fell 2.4%. They sank as the price of a barrel of U.S. oil dropped 3.5%.
Nvidia climbed another 4.9% to bring its gain for this year to 132.2% after unveiling new products and services over the weekend.
GameStop soared 21% in a move reminiscent of its early 2021 rocket ride that shook Wall Street and brought the term “meme stock” into the parlance of our times. Other meme stocks also rose Monday, including an 11.1% climb for AMC Entertainment.
In the bond market, the yield on the 10-year Treasury fell to 4.39% from 4.50% late Friday. The two-year yield, which more closely tracks expectations for action by the Federal Reserve, fell to 4.81% from 4.88%.
Stocks in Mexico, meanwhile, slumped 6% after Claudia Sheinbaum claimed victory in that country’s presidential election.
Benchmark U.S. crude oil for July delivery fell $2.77 to $74.22 per barrel Monday. Brent crude for August delivery fell $2.75 to $78.36 per barrel.
Gold for August delivery rose $23.50 to $2,369.30 per ounce. Silver for July delivery rose 34 cents to $30.78 per ounce, and July copper rose 7 cents to $4.67 per pound.
July corn lost 2.75 cents at $4.43 a bushel. July wheat fell 5 cents at $6.73 a bushel. July oats lost 13.5 cents at $3.73 a bushel. July soybeans was off 19.75 cents at $11.85 a bushel.
— Associated Press