S&P 500 Gets Late-Day Boost as Bonds, Dollar Fall: Markets Wrap

A rebound in big tech drove stocks higher after a slide driven by weak manufacturing, trade and geopolitical risks. Bonds fell as the dollar hit its lowest since 2023.

Coming off the S&P 500’s best May in 35 years, the benchmark edged up at the start of what’s historically one of its quietest months for gains. Nvidia Corp. led an over 1.5% rally in a measure of chipmakers. US steel and aluminum shares surged on Donald Trump’s pledge to double levies on the metals. Longer-dated Treasuries underperformed, with the spread between five- and 30-year yields near a level it last closed above in 2021. Oil climbed.