NEW YORK, June 1, 2026, 16:03 EDT
- Dow ekes out small gain on first read; S&P 500, Nasdaq also up.
- Tech stocks led by Nvidia helped balance out oil and Middle East concerns.
- Jobs numbers and the Fed’s June policy meeting are now in focus.
Dow closes up after a bumpy Monday, helped by fresh Nvidia AI news that kept tech stocks active. Weakness in oil and U.S.-Iran jitters held back gains for the rest of the market.
Dow preliminary figures put the index up 44.70 points, or 0.09%, to 51,076.85. The S&P 500 was higher by 20.19 points, or 0.27%, ending at 7,600.03. The Nasdaq Composite closed up 114.75 points, or 0.43%, to 27,087.37.
That’s important with the Dow trading close to highs in early June after posting gains in May. The Dow is a price-weighted index of 30 big U.S. companies, so stocks with higher prices have more sway. S&P Dow Jones Indices calls it a price-weighted gauge of blue-chip U.S. names — large, established firms.
Tech and AI stocks led the way, but the session was mixed. Decliners edged out advancers on the New York Stock Exchange, Reuters market data showed. Gains mostly stayed in technology and AI-linked shares.
Nvidia shares moved up after the company introduced RTX Spark, a new chip platform for AI-focused Windows PCs built with Microsoft. Nvidia CEO Jensen Huang said, “The PC is being reinvented.” Microsoft’s Satya Nadella described RTX Spark as helping reach “unmetered intelligence” at work and home. NVIDIA Newsroom
Chip stocks moved after the news, with Qualcomm and Intel dropping. Nvidia climbed and pulled up big tech and the Nasdaq. Microsoft gained too as some investors said the partnership shows AI is moving past data centers into PCs.
Brent crude finished at $94.98 a barrel. Prices climbed after new fighting linked to the U.S.-Iran ceasefire, according to the Associated Press. Oil gains tend to push up inflation, hitting households and raising the risk central banks don’t cut rates soon.
Middle East talks still unclear, GLOBALT’s Martin says
“We don’t really know where things stand,” said Thomas Martin, senior portfolio manager at GLOBALT in Atlanta, about Middle East talks. Martin said the market looks like it expects “something’s going to get done,” though there’s little clarity on what either side would agree to. StreetInsider.com
U.S. factory activity picked up again, clouding the rates picture. The Institute for Supply Management reported its manufacturing PMI climbed to 54 in May. That’s the fifth month in a row the index has shown expansion, since a PMI above 50 means growth. Prices kept rising, though not as fast as in April.
“The market has been toggling back and forth,” said Matthew Keator, managing partner at the Keator Group. He pointed to oil as the main swing factor. Amanda Agati, chief investment officer at PNC Asset Management Group, said investors were trying to price “a path to peace,” but headlines stayed messy. Reuters
Labor and the Fed are up next. The Bureau of Labor Statistics will put out the May jobs report Friday at 8:30 a.m. ET. The Federal Reserve meets for its next policy decision June 16-17.
Market gains are riding on a handful of winners and that could spell trouble. Thomas Carroll, equity market strategist at Stifel, said a market breadth indicator he tracks is “signaling a rotation is coming.” If oil prices keep climbing, inflation jitters worsen or Big Tech falls out of favor, the Dow’s quiet advance could turn out weaker than it appears at the bell. AP News
