Stock Market Sees Mixed Movements Amid Economic Data Releases
U.S. stocks rise as ISM services PMI hits nine-month high; oil prices remain volatile despite OPEC+ cuts.
- The ISM services PMI climbed to 53.8 in May, surpassing market expectations and reaching its highest level in nine months.
- Gold prices increased by 1%, while oil prices dropped despite OPEC+ extending supply cuts.
- Major tech stocks continue to dominate the S&P 500, accounting for 27% of its market capitalization.
- Hewlett Packard Enterprise and CrowdStrike saw significant premarket gains following strong earnings reports.
- European and Asian markets displayed mixed performances, with notable gains in India and declines in Japan and China.
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