Nasdaq, S&P 500 score record close

US stock indices turned higher during trading on June 5, in light of the decline in bond yields as markets evaluated economic data that showed a decline in available job opportunities and the resilience of economic activity, supporting investors' hopes of achieving a soft-landing scenario.

Dow Jones Industrial Average rose by 0.25%, or 96 points, to 38,807 points.

S&P 500 benchmark grew over 1.2%, or 62 points to 5,354 points, while Nasdaq increased 1.95%, or 330 points to 17,187 points. The two benchmarks hit their 25th and 13th record close in 2024, respectively.

S&P 500 IT sector index increased by 2.7%, with NVIDIA rising by 5.15% to $1,224.4, the third record close in June.

As for the European indices, STOXX Europe 600 inched up 0.8%, to 521.2 points, while gains were limited by a decline in the mining and banking sectors.

The French CAC 40 index rose by 0.85% to 8,006 points, while the German DAX grew by 0.95% at 18,575 points, and the British FTSE 100 increased by 0.3% at 8,255 points.

In Japan, the Nikkei index fell by 0.9%, or 347 points, to 38,490 points, and the broader Topix index fell by 1.4% to 2,748 points.

In the oil market, futures contracts for Brent crude for August delivery rose by 1.15%, or 89 cents, to $78.41 per barrel.

Meanwhile, prices of US Nymex crude for June delivery rose by 1.1%, or 82 cents, to $74.07 per barrel.

As for gold, futures prices for the yellow metal for August delivery rose by 1.2%, or $28.1, to $2,375.5 per ounce.

The ADP report for US jobs showed that the private sector added 152,000 positions in May, compared to the April revised total of 192,000, against expectations for the addition of 175,000 new jobs during the month.

According to The US Institute of Supply Management (ISM) data, the Services Purchasing Managers Index rose by 4.4 points to 53.8 points in May, from April’s 49.4 points. The index exceeded expectations of 51 points rise, achieving the fastest pace of growth since August.