Here’s the scoreboard:
Dow Jones industrial average: 24,812.10 +176.89 (+0.72%)
S&P 500: 2,747.47 +12.85 (+0.47%)
New orders for US-made goods dropped more than economists expected in April. Factory orders decreased 0.8%, Commerce Deparment data showed, dragged lower by weak demand for transportation equipment and machinery. Oil prices slid as markets wait out a decision on the future of OPEC. Brent, the international benchmark, shed nearly 2% to $75.20 a barrel at session lows. There have been reports the cartel could raise output amid supply disruptions in Venezuela and Iran. Apple hit an all-time high. Shares of the company soared as high as $193.42 as its developers conference, WWDC, kicked off on Monday. Twitter rose to a three-year peak. Shares of the company rose as high as $37.97, a high not seen since 2015.
Crypto company Ripple is giving $50 million to universities for blockchain research. The project extends research funding to 17 universities including Princeton and MIT.
And some highlights of the upcoming economic calendar:
Manufacturing numbers are out in the US and the UK. Canada reports labor productivity. The Reserve Bank of Australia announces its interest rate decision.