*
NYSE glitch triggers trading halts
*
US manufacturing falls for second straight month
*
Nvidia ( NVDA ) gains on next-generation AI chip platform
expectations
*
GameStop ( GME ) soars after Keith Gill's Reddit post
By Chibuike Oguh
NEW YORK, June 3 (Reuters) - U.S. stocks finished mostly
higher in a choppy session on Monday amid soft manufacturing
sector data and as a glitch on the NYSE briefly caused trading
halts in several equities.
A glitch at the New York Stock Exchange had triggered
massive swings in the shares of Berkshire Hathaway ( BRK/A ) and
Barrick Gold. Trading in at least 60 NYSE-listed stocks
were halted due to the volatility, before the bourse fixed the
technical issue and activity resumed.
Markets also weighed data showing U.S. manufacturing
activity had slowed for the second straight month, raising
concerns of weakening economic growth.
"What you're seeing when you look at the overall market is
that it is trading down based on growth concerns relative to the
continuation of more sluggish economic data," said Keith Lerner,
co-chief investment officer at Truist Advisory Services in
Atlanta.
"Not only is the overall market down, the 10-year Treasury
note is down about 8 basis points, and that's another signal
that investors are concerned about economic growth because
they're now buying the 10-year," Lerner added.
Traders see a 59% chance that the Fed will begin cutting
rates in September, up from about 53% before the ISM data was
released, according to the CME's FedWatch tool. Benchmark U.S.
10-year note yields fell to a two-week low following
the soft manufacturing data.
According to preliminary data, the S&P 500
gained 5.91 points, or 0.11%, to end at 5,283.39 points,
while the Nasdaq Composite gained 93.62 points, or
0.56%, to 16,828.63. The Dow Jones Industrial Average
fell 110.89 points, or 0.29%, to 38,575.43.
Nvidia ( NVDA ) rose after CEO Jensen Huang revealed that
the company's next-generation AI chip platform would be rolled
out in 2026.
Shares of other megacaps, including Apple ( AAPL ), Amazon ( AMZN )
and Meta gained. Microsoft ( MSFT ) and Tesla
lost ground.
GameStop ( GME ) soared after a weekend Reddit post from
stocks influencer Keith Gill, also known as "Roaring Kitty",
showed a $116 million bet on the gaming retailer.
Investors will be eyeing a data-packed week that includes
surveys on the services sector, factory orders and Friday's
closely watched nonfarm payrolls report, which could provide
clues to the Fed's likely course of action with regards to
rates.