Markets
Stocks Advance With Investors Focused on Economy: Markets Wrap
- Tech shares lead gains following stock rallies in Europe, Asia
- Gold and silver rise; dollar index falls for third day
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U.S. stocks rose as investors focused on signs of economic recovery amid further tension with China, lackluster virus drug-test results and spreading protests over the killing of George Floyd, an unarmed black man, by police. The dollar slumped.
The tech-heavy Nasdaq Composite outperformed as a closely watched measure of U.S. manufacturing rose in May for the first time in four months, suggesting stabilization after a pandemic-driven plunge. Gunmakers rallied in the aftermath as the protests were marred by violence. Gilead Sciences Inc. fell after its drug remdesivir showed only a limited benefit in a large trial.