U.S. stocks pushed higher on Monday, closing in on record levels after a volatile start to the day. Despite weak manufacturing data and renewed trade tensions between the U.S. and China, investor optimism held strong, with major indexes recovering thanks to tech gains and a surge in oil prices.
Wall Street inched closer to record territory on Monday, continuing its upward momentum after a strong May—the best month for U.S. stocks since 2023. The S&P 500 gained 0.4%, the Nasdaq rose 0.7%, and the Dow Jones Industrial Average added a modest 0.1%.
Markets opened lower, with all three major indexes down nearly 1% in the morning, as investors reacted to weak manufacturing data and renewed trade tensions. However, stocks recovered by the afternoon, boosted by strong performances from key tech companies and a sharp rise in oil prices.
Shares of Nvidia and Meta climbed 1.7% and 3.6%, respectively, helping to offset broader market weakness. Oil prices surged more than 3% after the OPEC+ group confirmed plans to gradually increase production—a move already anticipated by investors. Meanwhile, Ukrainian attacks on Russian territory over the weekend added new uncertainty to global energy markets.
One of the biggest stories driving market sentiment is the return of U.S.-China trade tensions. Just weeks after both countries agreed to pause tariffs, the rhetoric has once again heated up. China’s Commerce Ministry criticized the United States for restricting exports of artificial intelligence chips and software, and for reportedly planning to revoke student visas. In response, President Donald Trump accused China of violating the trade agreement reached last month and announced a dramatic increase in steel tariffs—from 25% to 50%—during a speech to steelworkers in Pennsylvania.
The tariff hike gave a strong boost to American steelmakers. Nucor surged 10.1%, and Steel Dynamics jumped 10.3%. However, companies that rely heavily on steel, such as automakers, saw their shares fall. Both Ford and General Motors dropped 3.9%.
While some investors cheered the tariff protections, others worry that rising prices for materials like steel could push up costs for construction, manufacturing, and housing. This concern was echoed in economic reports released Monday. A survey from the Institute for Supply Management showed weaker-than-expected activity in the U.S. manufacturing sector. One respondent from the transportation equipment industry said the administration’s shifting trade policies had made it hard for suppliers to stay profitable. Another report from S&P Global painted a slightly more optimistic picture but noted ongoing supply chain disruptions and inflationary pressures.
Bond markets reflected the tension as well. The yield on the 10-year U.S. Treasury rose to 4.44%, up from 4.41% on Friday and significantly higher than the 4.01% seen two months ago. Rising yields can increase borrowing costs for businesses and consumers and often pressure stock prices.
International markets also reacted to the escalating U.S.-China tensions. Hong Kong’s Hang Seng fell 0.6%, Japan’s Nikkei 225 dropped 1.3%, and most other major Asian and European indexes ended the day in the red. Investors were also digesting data showing that Chinese factory activity continued to contract in May, although the pace of decline had eased slightly since April.
Despite the geopolitical tensions and mixed economic signals, U.S. stocks remain near record highs. Much of the recent market optimism has been driven by expectations of tariff relief and hopes for global trade stability. But with the Trump administration’s trade agenda back in the spotlight, investors will be watching closely for any signs of further escalation.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
Thousands gathered for a sixth straight night of protests in downtown Los Angeles on Wednesday, condemning President Donald Trump’s immigration raids as federal forces remain deployed in the city.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
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A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
The U.S. Energy Information Administration (EIA) has slightly increased its forecast for Brent crude oil prices in 2025, despite expectations of growing global stockpiles.
South Korea's main stock index, the Korea Composite Stock Price Index (KOSPI), rose by 35.19 points, or 1.23%, on Wednesday, closing at 2,907.04. This marks its highest closing level since 14 January, 2022, when it reached 2,921.92 points.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
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