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Stocks Push Higher on US Labor Market Strength and AI Spending
Barchart - Tue Jun 2, 10:25AM CDT
The S&P 500 Index ($SPX) (SPY) today is up +0.24%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.29%. June E-mini S&P futures (ESM26) are up +0.20%, and June E-mini Nasdaq futures (NQM26) are up +0.28%.
Stock indexes recovered from early losses today and are moving higher, with the Dow Jones industrials posting a new all-time high. Signs of strength in the US labor market pushed stocks higher today after the Apr JOLTS job openings unexpectedly rose to a 23-month high. Also, ramped-up AI spending continues to support technology stocks. Hewlett-Packard Enterprise is up more than +24% after giving an outlook for annual sales that topped estimates, citing massive growth in AI-fueled demand for its servers and networking. Also, Marvell Technology is up more than +24% after Nvidia CEO Huang predicted that the company will be the next to hit a $1 trillion valuation, more than five times its current market capitalizati... Read more
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