US stocks lower due to weak economic data and energy stocks decline. Negative.

From Investing.com: 2024-06-03 14:23:00

U.S. stocks mostly lower as energy stocks slump on falling oil prices and weak manufacturing data. The Dow fell 0.80%, Nasdaq was flat, and S&P 500 dropped 0.4%. Energy stocks plunged over 3% after OPEC+ decided to extend production cuts but phase out voluntary cuts. Halliburton, Diamondback Energy, Baker Hughes among biggest losers.

Paramount Global agrees to $8 billion merger with Skydance, boosting shares by 58%. Deal requires National Amusements owner’s approval. MarineMax spikes on reports of $40 per share takeover by OneWater Marine.

AMD unveils new AI chips, stock falls 2%; Nvidia up 2% with next-gen superchips. Manufacturing activity dips in May as capex investment remains challenging. Eyes on nonfarm payrolls data and Fed meeting for interest rate clues. Fed expected to keep rates steady.



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