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Stock market today: Asian shares decline after report shows US manufacturing contracted in May

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Stocks And Bonds,Gamestop Corp.,Economy

Asian shares have retreated after a report showed that U.S. manufacturing contracted in May. India's Sensex dropped 4%. Oil prices fell and U.S. futures were flat. On Monday, the S&P 500 edged up 0.1% although the majority of stocks within the index fell. The Dow Jones Industrial Average dropped 0.3%, and the Nasdaq composite rose 0.6%.

Stock market today: Asian shares decline after report shows US manufacturing contracted in MayAnalysts questioned the significance of the report, given that the indicator has been declining for most of the past two years.

On Tuesday, the U.S. government will show how many job openings employers were advertising at the end of April. And on Friday, it will give the latest monthly update on overall growth for jobs and workers’ wages. Halliburton dropped 5.3%, and Exxon Mobil fell 2.4%. They sank as the price of a barrel of U.S. oil dropped 3.5%. Brent crude, the international standard, lost a similar amount despite moves over the weekend byclimbed another 4.9% to bring its gain for this year to 132.2% after unveiling new products and services over the weekend. It’s been deliveringto keep at bay criticism that investors have become overzealous about the prospects for AI.

 

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