Nasdaq Edges Higher; ISM Manufacturing PMI Falls In May

Author: Avi Kapoor | June 02, 2025 12:49pm

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.2% on Monday.

The Dow traded down 0.49% to 42,064.07 while the NASDAQ rose 0.21% to 19,154.77. The S&P 500 also fell, dropping, 0.11% to 5,905.30.

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Leading and Lagging Sectors

Energy shares jumped by 0.6% on Monday.

In trading on Monday, real estate stocks fell by 1.5%.

Top Headline

The ISM manufacturing PMI declined to 48.5 in May compared to 48.7 in April, also missing market estimates of 49.5.

Equities Trading UP
           

• Lyra Therapeutics, Inc. (NASDAQ:LYRA) shares shot up 486% to $28.90 after the company announced its ENLIGHTEN 2 Phase 3 trial of LYR-210 met its primary endpoint.
• Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) got a boost, surging 64% to $31.12 after the company released ORIGIN Phase 3 trial data.
• Applied Digital Corporation (NASDAQ:APLD) shares were also up, gaining 51% to $10.34 after the company announced a 250MW AI data center lease with CoreWeave.

Equities Trading DOWN

• Verastem, Inc. (NASDAQ:VSTM) shares dropped 20% to $6.01. The company provided updated data for the dose escalation part of its Phase 1/2 trial of GFH375.
• Shares of SharpLink Gaming, Inc. (NASDAQ:SBET) were down 37% to $48.35 after the company announced a mixed-shelf offering
• Xilio Therapeutics, Inc. (NASDAQ:XLO) was down, falling 32% to $0.73 after the company announced it commenced a public offering of pre-funded warrants.

Commodities

In commodity news, oil traded up 3.3% to $62.82 while gold traded up 2.6% at $3,400.70.

Silver traded up 4.7% to $34.595 on Monday, while copper rose 3.6% to $4.8470.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 declined 0.14%, while Spain's IBEX 35 Index rose 0.36%. London's FTSE 100 rose 0.02%, Germany's DAX 40 fell 0.28% and France's CAC 40 fell 0.19% during the session.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei falling 1.30%, Hong Kong's Hang Seng Index dipping 0.57% and India's BSE Sensex declining 0.1%.

Economics

• The ISM Manufacturing PMI declined to 48.5 in May compared to 48.7 in April, also missing market estimates of 49.5.
• U.S. construction spending declined by 0.4% month-over-month to an annual rate of $2,152.4 billion in April following a revised 0.8% fall in March.
• The S&P Global manufacturing PMI was revised lower to a reading of 52 in May versus a preliminary reading of 52.3.

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Posted In: APLD LYRA SBET VERA VSTM XLO