On Monday, the S&P 500 Index closed up +0.30%, while the Dow Jones Industrial Average decreased by -0.16%, and the Nasdaq 100 Index rose by +1.58%. This market movement came after renewed enthusiasm for artificial intelligence positively impacted chipmakers and AI-infrastructure stocks, contributing to a modest recovery from last Friday’s selloff. WTI crude oil prices initially spiked over +4% due to tensions between Iran and Israel but eventually settled lower as Iran indicated a halt to its military operations.
Overseas markets displayed mixed results, with China’s Shanghai Composite dropping -1.70% to a two-month low and Japan’s Nikkei falling -3.85% to a two-week low. The Eurozone’s Jun Sentix investor confidence index improved by +3.0 to -3.4, surpassing expectations of -14.0.
Interest rates saw the 10-year T-note yield rise to a two-week high of 4.580%, influenced by a stronger-than-expected increase in U.S. May nonfarm payrolls. Meanwhile, swaps indicate a 100% chance of a +25 basis point rate hike at the European Central Bank’s upcoming meeting on Thursday.
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