The S&P 500 closed higher Monday, driven by tech stocks, as markets started the second half of the year strong ahead of an important jobs report due later this week. At 4:00 PM ET, the Dow Jones rose 50 points (0.1%), the S&P 500 increased by 0.2%, and the NASDAQ climbed 0.8%. The indices began the week positively, adding to last quarter's gains, despite the shortened week due to Independence Day. For Q2, the S&P 500 and NASDAQ gained 3.9% and 8.3%, respectively, while the Dow lost 1.7%.
This week includes labor market updates and the nonfarm payrolls report on Friday. The Federal Reserve will release June meeting minutes, with Chair Jerome Powell speaking at the ECB forum in Portugal, though no new policy insights are expected. Meanwhile, U.S. manufacturing activity fell further into contraction in June, with a reading of 48.5.
In corporate news, Boeing (NYSE) rose nearly 3% after agreeing to buy Spirit Aerosystems (NYSE) for $4.7 billion. Nvidia (NASDAQ) gained nearly 1% after Morgan Stanley raised its price target. Chewy (NYSE) fell 6% after stock influencer Keith Gill disclosed a 6.6% stake.
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