From Yahoo Finance: 2025-06-02 22:18:00

U.S. stocks edge closer to record highs amidst uncertainty over President Trump’s tariffs and their impact on the economy. S&P 500 rises 0.6%, Dow Jones gains 0.5%, Nasdaq climbs 0.8%. Dollar General stock soars 15.8% after strong profit and revenue report, raises forecasts cautiously due to tariff uncertainty. OECD forecasts U.S. economy to grow 1.6% this year, down from 2.8% last year.

Reports show U.S. households feeling more pessimistic due to tariffs, but impacts remain moderate. Manufacturers are affected, but job market stays solid with low layoffs and stable inflation. U.S. employers are advertising more job openings than expected, showing a resilient labor market. Hope for trade deals to lower tariffs boosts stock market nearly back to record highs.

Tech stocks like Nvidia and Broadcom lead market gains. S&P 500 rises to 5,970.37, Dow Jones adds 214.16 points, Nasdaq gains 156.34 points. Treasury yields hold steady, cooling down after sharp rise caused by debt concerns. Higher yields can deter investors from high-priced investments. Global stock markets rise modestly, Hong Kong’s Hang Seng jumps 1.5%.

South Korea’s snap presidential election results in victory for opposition leader Lee Jae-myung. Former president Yoon Suk Yeol faces trial on rebellion charges following imposition of martial law. Global markets rise, despite Chinese manufacturing slowdown. AP Business Writers Matt Ott and Elaine Kurtenbach contributed to the report.



Read more at Yahoo Finance: Wall Street rises again as US stocks pull closer to their records