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Stock market today: Stocks edge higher as new quarter kicks off

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Political turmoil in France gripped investors weighing whether stocks can build on their stellar first-half performance.

US stocks edged higher on Monday to start the quarter as investors began counting down to the July 4 break and the key US jobs report. The Dow Jones Industrial Average rose slightly while the S&P 500 gained 0.2%. The tech-filled Nasdaq Composite climbed back into positive territory to rise 0.6% by 12 p.m. ET. Nvidia shares erased earlier losses, temporarily easing worries the chip heavyweight could be trading in treacherous waters.

US manufacturing activity data released on Monday showed the Institute for Supply Management's manufacturing PMI fell further into contraction territory in June, hitting a four-month low. In the meantime, the prospect of political gridlock in France is gripping investors after the first round of voting in national elections. A rebound in French stocks lost steam after jumping amid relief that Marine Le Pen's far-right party won by a smaller margin than exit polls indicated.

 

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