04:49 PM EDT, 07/01/2024 (MT Newswires) -- US benchmark equity indexes rose Monday, with the Nasdaq Composite reaching a new record, as markets assessed two reports painting a mixed picture of the manufacturing sector for June.

The technology-heavy Nasdaq rose 0.8% to 17,879.3, while the S&P 500 advanced 0.3% to 5,475.1. The Dow Jones Industrial Average added 0.1% to 39,169.5. Tech paced the gainers among sectors, while materials saw the steepest decline.

In economic news, the Institute for Supply Management's manufacturing purchasing managers' index fell to 48.5 last month from 48.7 in May and was below the Bloomberg-compiled consensus for a 49.1 print.

"US manufacturing activity continued in contraction at the close of the second quarter," said Timothy Fiore, chair of the ISM's manufacturing business survey committee. "Demand was weak again, output declined, and inputs stayed accommodative."

Separately, S&P Global ( SPGI ) said its manufacturing PMI rose to a three-month high 51.6 in June from 51.3 the month before, just shy of the 51.7 consensus estimate.

The US 10-year yield jumped 12.6 basis points to 4.47% Monday, while the two-year rate added four basis points to 4.76%.

West Texas Intermediate crude oil rose 2.2% to $83.36 per barrel.

In company news, electric vehicle maker Tesla's (TSLA) shares jumped 6.1%, the top gainer on the S&P 500 and the Nasdaq.

Boeing ( BA ) agreed to acquire Spirit AeroSystems ( SPR ) in an $8.3 billion deal that would reverse their 2005 separation, as the troubled aircraft manufacturer continues its quality and safety improvement efforts. Boeing ( BA ) shares rose 2.6%, among the best performers on the S&P 500 and the Dow, while Spirit AeroSystems ( SPR ) gained 3.4%.

O'Reilly Automotive (ORLY) shares dropped 3.8%, among the steepest declines on the Nasdaq and the S&P 500, as Evercore ISI reduced its price target on the stock to $1,250 from $1,275.

Sebastian James, the managing director of Walgreens Boots Alliance's ( WBA ) Boots subsidiary, is stepping down after Walgreens failed to engineer a sale of the company, Reuters reported, citing an unnamed source. Walgreens Boots shares fell 4.3%, the second-steepest decline on the Nasdaq.

Gold rose 0.1% to $2,341.80 per troy ounce, while silver increased 0.6% to $29.75 per ounce.