After a record-breaking May, US stock indexes made a subtle but significant move on June 2nd, inching closer to new all-time highs. The day started with a slight dip; disappointing US manufacturing data caused the major indices to fall nearly 1 percent in the morning. However, a strong afternoon rally, fueled largely by gains in several key Big Tech companies, propelled the market upwards.

Here’s a closer look at the performance of the major indices:

• S&P 500: Finished up 0.4 percent, adding 24.25 points to close at 5,935.94. This gain was notable despite a weakening trend among the majority of its constituent stocks.
• Dow Jones Industrial Average: Experienced a more modest increase of 0.1 percent, climbing 35.41 points to end the day at 42,305.48.
• Nasdaq Composite: Showed the strongest performance, rising 0.7 percent. This suggests the tech sector played a significant role in the overall market rebound.

The market’s resilience after the initial downturn highlights the ongoing influence of large technology companies and underscores the ongoing investor optimism despite some economic headwinds. The recovery demonstrates the market’s ability to quickly absorb and overcome negative news, at least in the short term.