June 2, 2021

June 2, 2021

Stocks moved higher for a second straight day, with every major index ending in positive territory. In economic news, the ISM Manufacturing Index increased to 61.2% during May, more than the expected 60.5%.

 

Here’s a look at how the major indices finished the day:

Dow Jones +25 at 34,600

S&P 500 +6 at 4,208

NASDAQ +20 at 13,756

 

The 10 Year Treasury closed down 2 basis points yielding 1.59%

Oil prices closed up $1.01 ending at $68.72 a barrel

Gold prices closed up $5 ending at $1,908 an ounce

 

Corporate news:

 

  • Shares of Etsy moved 7% higher after the craft marketplace announced a deal to buy fashion resale company Depop for $1.625 billion. Depop will continue to operate as a separate marketplace after the deal is completed.

 

  • Taiwan Semiconductor has begun construction at a new chip plant in Arizona. The factory is set to begin chip production in 2024.

 

  • Moderna announced a partnership with the life sciences company Thermo Fisher Scientific to provide manufacturing and packaging services for its Covid-19 vaccine. Moderna shares increased 4% today.

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