US stocks saw gains on Monday, driven by strong performances from tech giants. The Dow closed up 0.13 percent at 39,169.52, the S&P 500 rose 0.27 percent to 5,475.09, and the Nasdaq climbed 0.83 percent to 17,879.30. Microsoft, Apple, Amazon, Nvidia, and Alphabet all saw positive movements.
On the economic front, the ISM manufacturing PMI dipped to 48.5 in June, indicating contraction. Construction spending also decreased slightly in May. Investors are eagerly awaiting the release of the monthly jobs report from the Labor Department on Friday, as well as other key indicators such as JOLTS and the ISM PMI.
The yield on the US 10-year Treasury note rose to 4.45% at the start of the quarter, its highest in three weeks, amid ongoing assessments of fiscal risks and the Federal Reserve’s monetary policy outlook. The dollar index stabilized around 105.9, supported by strong Treasury yields.
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