Protests and relations with China do little to dash investor's hopes regarding U.S. economy
Despite an uprising in social turmoil in the U.S., stocks marked the first day of June with gains. The Dow closed up 91 points, while the S&P 500 and Nasdaq marked closes modestly in the black. Despite relations with China on the brink of collapse, investors in the U.S. are still optimistic as the economy continues to reopen. Wall Street is paying close attention to political rhetoric, however, after earlier U.S. President Donald Trump was criticized by two governors during a national conference call toward his "dangerous" and "inflammatory" handling of the death of George Floyd.
Continue reading for more on today's market, including:
Bears ravage Twitter stock amid Trump tensions.The Dow Jones Industrial Average (DJI - 25,475.02) added 91.91 points, or 0.4% for the day. Boeing (BA) led the charge with a 3.8% pop, while Pfizer (PFE) paced the losers on a 7.1% slide.
The S&P 500 Index (SPX - 3,055.73) ended 11.42 points, or 0.4% higher, and the Nasdaq Composite (IXIC - 9,552.05) tacked on 62.2 points,or 0.7%.
Meanwhile, the Cboe Volatility Index (VIX - 28.23) rose 0.72 points, or 2.6%.
There were no earnings of note today.
Data courtesy of Trade-Alert
As tensions between the U.S. and China weighed, oil futures pulled back. Oil for July delivery lost 5 cents, or 0.1%, to settle at $34.44 per barrel.
On the other hand, gold marked gains after the dollar dropped to its lowest level since mid-March and U.S-China tensions increased. Gold for August delivery fell $1.40, or 0.08%, to settle at $1,750.30 per ounce.