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Stock market today: Nasdaq rises, Dow slumps in bumpy trading day as GameStop rallies

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Nasdaq Composite Notizia

Trading Day,Dow Jones Industrial Average,Trading Session

US stocks are looking to build on their strong performance in May as hopes for rate cuts revive and the meme stock mania roars back.

US stocks closed mixed on Monday to kick off a volatile first trading day of June. The tech-heavy Nasdaq Composite finished the day in positive territory, up about 0.6%, after flip flopping throughout the trading session. The benchmark S&P 500 did the same, rising about 0.1% while the Dow Jones Industrial Average recovered from steeper losses to shed more than 100 points, or around 0.3%.

Bond yields also moved to the downside, with the 10-year Treasury yield falling about 11 basis points to trade near 4.40%. Meanwhile, a surge in GameStop shares grabbed the spotlight, firing up speculation again of a return to a 2021-style meme rally. The stock skyrocketed over 100% at one point after a Reddit post apparently by Keith Gill — aka "Roaring Kitty" — showed a big bet by the influential trader. Fellow meme darling AMC's shares shot up as much as 27% alongside the move.

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