New York MONDAY

Barry Adams
01 Jun, 2026
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Wall Street indexes edged higher on the first day of June and set to create new record highs. 

The S&P 500 Index edged up 0.4%, and the tech-heavy Nasdaq Composite advanced 0.6% an tech stocks led gainers on Monday. 

The major averages closed at new record highs on Friday after the U.S. and Iran reached a temporary agreement to extend the fragile ceasefire for sixty days.  

In May, the S&P 500 index advanced about 5%, and the tech-heavy Nasdaq Composite soared 8%, as tech leaders touched new highs. 

World markets extended April's gains in May, as AI- and semiconductor-linked stocks led around the world. 

Broader averages in Europe advanced between 3% and 6%; in Japan, they soared 11%, but in Hong Kong, they decreased 3%.

Despite the U.S. conducting airstrikes targeting locations in Iran, hopes of easing Middle East tensions further boosted investor sentiment. 

Global commerce showed no sign of easing, and exports from China, Japan, and South Korea continued to advance, driven by the U.S. demand for electrical and electronic products supporting the buildout of AI infrastructure. 

Later in the week on Friday, investors are awaiting the release of nonfarm payrolls for May for the latest update on the labor market and the outlook for the Federal Reserve's interest rate policy.   

 

U.S. Movers 

Taylor Morrison jumped 22% to $71.50 after the UK-based home builder agreed to be acquired for $8.5 billion by Berkshire Hathaway. 

Berkshire agreed to pay $72.50 per share, valuing the home builder's equity at $6.8 billion, a 24% premium to Friday's closing price. 

Including the total debts, the enterprise value of the company expanded to $8.5 billion. 

After the acquisition, Taylor Morrison is likely to be merged with Berkshire-owned Clayton Homes, and Taylor's chief executive Sheryl Palmer is expected to run the combined businesses.