Source: Wall Street News Author: Li Dan, Fang Jiayao.

Bad economic news has once again become good news for the US bond market. The May US ISM manufacturing index announced on Monday fell more than expected to 48.5, hitting a low in three months. Among the sub-indices, the new order index hit a new low in a year and the largest month-on-month decline in two years, reflecting the weakness of the economy's demand. The output index is approaching the watershed of 50.0, close to the extension stagnation, and the price payment index, although at about the second highest level in about two years, has fallen more than expected to 57.

After the April PCE showed a cooling of inflation last Friday, the ISM data strengthened the room for the Fed to cut interest rates this year. At present, the market expects that the Fed monetary policy meeting next week will continue to imply that there is no rush to cut interest rates. The pricing of swap contracts fully reflects only one interest rate cut in December this year. Investors will focus on labor market data released this week, including the heavyweight non-farm employment report released on Friday, to look for clues to the Fed's policy outlook.

After the release of the ISM data, the price of US Treasury bonds rose further, and the decline in yield expanded rapidly. The yield on the benchmark 10-year US bond fell more than 10 basis points during the day, reaching a three-week low, and fell in tandem with crude oil; the US dollar index accelerated its decline, wiping out all gains since March when US CPI rose for more than a month; gold's gain expanded and hit a daily high. However, the stock market's gains did not last long. The three major indexes all turned down during the day. The energy sector led the decline, and sectors dependent on economic growth such as industry fell.

Some technology giants such as Nvidia rose, supporting the market. After CEO Huang Renxun outlined the blueprint for upgrading AI chips every year and was listed as the preferred stock by Bank of America on Monday, Nvidia, which had fallen for several consecutive days, rose more than 4% during the day. The chip index once fell more than 1% during the day, and with a rebound in the tail, it reversed the three-day decline. AMD announced a new AI chip on Monday, and it fell more than 3% during the day. Three years ago, Keith Gill, the “top bull” who initiated the retail investor war on Wall Street, posted a screenshot showing that he may hold a large number of common stocks and call options for Gamestop, causing the stock to rise more than 70% at one point.

Among the commodities, the weak US dollar failed to support a collective rebound of London's basic metals, and London copper bid farewell to a three-week low, while London tin, London zinc and others continued to fall. Precious metals gold and silver were supported by expectations of interest rate cuts by central banks in Europe and the United States. After the OPEC+ meeting over the weekend, the collective production reduction policy was extended for another year until the end of next year, and the voluntary production reduction period of eight countries including Saudi Arabia, the United Arab Emirates, and Iraq was extended to the end of September this year and can be gradually cancelled from October. After the meeting, international crude oil fell further, and concerns about the US economy intensified after the announcement of the ISM manufacturing index, and crude oil fell more than 3%, with Brent breaking through the $80 mark. Both US oil and Brent fell to nearly four-month lows, marking the worst single-day performance since Saudi Arabia unexpectedly cut oil prices almost five months ago.

Some analysts believe that given the current high interest rates and increased production from non-OPEC+ countries such as the United States, the OPEC+ resolution will gradually bearish for crude oil. The gradual revocation of voluntary production cuts will increase oil supply, especially next year. It is expected that by June next year, a total of 1.8 million barrels/day of production will return to the market, and OPEC+ agreement countries such as Iraq that are eager to increase production will almost certainly cheat on production limits. Goldman Sachs analyst expects that Brent crude oil may fall below the range of $75 to $90, and this year's oil demand increase will be lower than OPEC+'s expectations. It pointed out that if the market performs lower than OPEC's optimistic expectations, the plan of unexpectedly canceling additional production cuts will make it even more difficult for OPEC to maintain low production levels.

The three major US stock indexes turned collectively lower in the intraday session, and semiconductor stocks fell for three consecutive days. Gamestop rose by 75% at one point.

The three major US stock indexes opened high together, and then fell during the midday. The Dow Jones Industrial Average turned down after the opening, and remained on the decline. S&P 500 Index (.SPX.US)It went down less than an hour and a half after the market opened.the NASDAQ Composite Index (.IXIC.US)The initial increase was slightly more than 1%, but it fell at the beginning of midday. When the midday refreshes the daily low, the Dow drops nearly 440 points, down more than 1.1%, the S&P falls more than 0.8%, and the Nasdaq falls more than 0.5%. The Nasdaq subsequently turned up, the S&P turned up at the end of the day, and the Dow narrowed most of the decline.

In the end, only the Dow closed lower among the three major indexes, falling after its two-day gains since last Friday, but still higher than the low point of May 1 created last Thursday. The S&P rose 0.11% to 5,283.40 points, having risen for two consecutive days after refreshing its low on May 13 last Thursday. The Nasdaq, which fell for three consecutive days and refreshed its low since May 23 for two days, rose by 0.56% to 16,828.63 points.

S&P and Dow-related ETF $SPDR S&P 500 Index ETF (SPY.US)$ and SPDR the Dow Jones Industrial Average (.DJI.US)ETF (DIA) respectively rose 0.08% and fell 0.33%.

Small-cap stocks with value stocks as the main component, the Russell 2000 index fell by 0.5%, falling back after hitting a high since May 22 for two consecutive days. The Nasdaq 100 index, which is dominated by technology stocks, rose by 0.35%, and the related ETF $Nasdaq 100 Index (.NDX.US)$Invesco QQQ Trust ETF (QQQ.US) Series 1 (QQQ) rose 0.54%, rebounding after three consecutive declines to a low since May 14. The Nasdaq Technology Market Cap Weighted Index (NDXTMC), which measures the performance of technology stocks in the Nasdaq 100 index, rose by 0.95%, also rebounding after three consecutive declines. Among the Dow component stocks, the only energy stock, $Chevron (CVX.US)$ fell nearly 3%, leading the decline, while

$Dow Inc (DOW.US)$, $Caterpillar (CAT.US)$, $Home Depot (HD.US)$ and Travellers all fell by more than 2%, while , rose nearly 4%. Among the major sectors of the S&P 500, only four rose on Monday. The IT sector, where Nvidia is located, rose by nearly 1%, medical rose more than 0.7%, communications services rose nearly 0.5%, and non-essential consumer goods rose more than 0.1%, while the energy sector dragged down by the drop in crude oil fell 2.6%, leading the decline, and the industrial and utilities sectors fell by more than 1%. , $Home Depot (HD.US)$Both Travelers fell more than 2%,Please use your Futubull account to access the feature.Up nearly 4%. Among the major sectors of the S&P 500, only four closed up on Monday, with the IT sector, where Nvidia is located, up nearly 1%, medical up more than 0.7%, communications services up nearly 0.5%, non-essential consumer goods up more than 0.1%, while the energy sector, dragged down by falling crude oil prices, fell 2.6% to lead the decline, with industrials and utilities falling over 1%.

IncludingMicrosoft (MSFT.US), including Apple, Nvidia, Google's parent company Alphabet, and Facebook's parent company Meta, the seven tech giants, saw different fluctuations in trading today. Nvidia performed the best and did not drop in the middle of trading, similar to Apple and Meta. Tesla, the worst performer, rose nearly 2.6% at the start of trading, but fell in the morning and at noon, and closed down by 1%, falling for two consecutive trading days as of May 23. Among the top six FAANMG tech stocks, Apple rose 1.4% in early trading and closed up by 0.9%, rising for six consecutive days to reach the highest closing level since January 25th. Meta rose 2.7% in early trading and closed up by 2.3%, rising for two consecutive days. Amazon, which had fallen continuously for three days last Friday and hit the lowest closing price since April 30th, rose nearly 1.3% at the start of trading and fell slightly in the morning and at noon, before closing up nearly 1.1%. Alphabet fell after early trading, fell nearly 0.9% at noon, turned higher at the end of trading, and closed up nearly 0.3%, continuing to move away from the low point since May 14th created last Thursday. Meanwhile, Microsoft, which had rebounded slightly last Friday, fell more than 1% in the middle of trading after a fall at the opening, closing down by 0.4% and hitting the lowest closing level since May 9th. The semiconductor index fell 1.2%, hitting a low for three days in a row and two days since May 17th. Overall, chip stocks fell in early trading. Semiconductor index SOX.US and semiconductor industry ETF SOXXX rose by about 1.8% and 1.7%, respectively, at the start of trading before falling, with declines of more than 1.2% and 1.6% at noon, then turning higher at the end of trading, closing up by nearly 0.6% and nearly 0.2%, respectively. Among chip stocks, Nvidia, which had fallen for two consecutive days, rose more than 4.3% at the start of trading, narrowed its gains by nearly half in early trading, and rose 2.2% before hitting a daily high and closing up 4.9%. Arm rose more than 5%, while AMD, which fell more than 3% during trading, closed down by 2%, and Intel fell by 1.8%, with declines of more than 2% during trading. Applied Materials and NXP Semiconductors fell by 0.4% and 0.8%, respectively, and Super Micro Computer and Palantir fell by 0.5%. The overall AI concept stocks fell. The AI and Robotics ETF, Glb X Robotics & Afl Intelligence ETF (BOTZ), closed up by 1.1%. By the close of trading, SoundHound.ai (SOUN) fell by more than 5%, and Dell (DELL), which had fallen nearly 18% last Friday after announcing its financial report, also fell by more than 5%. $Amazon (AMZN.US)$Please use your Futubull account to access the feature.$Tesla (TSLA.US)$The technology giants, including Apple, Nvidia, Google's parent company Alphabet, and Facebook's parent company Meta, posted different gains and losses during trading. Nvidia performed the best and, together with Apple and Meta, did not experience any declines during the day. Tesla, the worst performer, rose nearly 2.6% at the start of trading but then turned to losses with a 2% drop at noon, finishing with a 1% drop. This is the second consecutive day the stock has fallen, reaching its lowest closing level since May 23. Among the top six FAANMG tech stocks, Apple rose by 1.4% in early trading and closed up by 0.9%, with six consecutive days of gains to reach the highest closing level since January 25th. Meta rose 2.7% in early trading and closed up by 2.3%, rising for two consecutive days. Amazon, which had continuously declined for three trading days until last Friday and hit its lowest closing price since April 30th, rose nearly 1.3% at the beginning of trading. However, the stock experienced slight drops during both morning and afternoon sessions before eventually closing up by almost 1.1%. Alphabet fell at the start of trading, declined nearly 0.9% at noon before finally rebounding at the end of trading, closing up by nearly 0.3% and continuing to move away from the low point since May 14th, which was created last Thursday. Meanwhile, Microsoft, which had rebounded slightly last Friday, dropped over 1% during the middle of trading, down by 0.4% at the closing, reaching the lowest closing level since May 9th. Tesla has fallen for two consecutive days to reach its lowest closing level since May 23rd.

Among the top six FAANMG tech stocks, Apple rose by 1.4% in early trading and closed up by 0.9%, with six consecutive days of gains to reach the highest closing level since January 25th. Meta rose 2.7% in early trading and closed up by 2.3%, rising for two consecutive days. Amazon, which had continuously declined for three trading days until last Friday and hit its lowest closing price since April 30th, rose nearly 1.3% at the beginning of trading. However, the stock experienced slight drops during both morning and afternoon sessions before eventually closing up by almost 1.1%. Alphabet fell at the start of trading, declined nearly 0.9% at noon before finally rebounding at the end of trading, closing up by nearly 0.3% and continuing to move away from the low point since May 14th, which was created last Thursday. Meanwhile, Microsoft, which had rebounded slightly last Friday, dropped over 1% during the middle of trading, down by 0.4% at the closing, reaching the lowest closing level since May 9th. Netflix (NFLX.US)The semiconductor stocks fell by 1.2%, bottoming for three days in a row, and two days since May 17th.

In general, the chip stocks fell in early trading. The PHLX semiconductor index and semiconductor industry ETF SOXXX rose by approximately 1.8% and 1.7%, respectively, at the start of trading before falling, with declines of over 1.2% and 1.6% at noon, then turning higher at the end of trading and closing up by nearly 0.6% and nearly 0.2%, respectively. Nvidia, which had fallen for two consecutive days, rose more than 4.3% at the start of trading. $Micron Technology(MU.US)$, $Taiwan Semiconductor(TSM.US)$The American stock market surged more than 2%. Qualcomm (QCOM.US)Palantir fell by 0.9%, continuing to decline for the third day, and the lowest closing price since May 17th. After the CEO resigned and the company's Chief Marketing and Strategy Officer became the temporary CEO, Lattice Semiconductor fell by 15.5%. AMD, which had fallen more than 3% during trading, closed down by 2%. Intel fell by 1.8%, with declines of more than 2% during trading. and Applied Materials fell by 0.4% and NXP Semiconductors fell by 0.8%. Super Micro Computer fell by 0.5%. $Broadcom(AVGO.US)$The AI and Robotics ETF, Glb X Robotics & Afl Intelligence ETF (BOTZ), closed up 1.1%, while Ultra Clean Holdings fell by 0.5%.

The overall AI concept stocks fell. The semiconductor stocks fell in general. , Palantir fell by 0.9%, continuing to decline for the third day, and the lowest closing price since May 17th. , Astera Labs (ALAB.US), BigBear.ai (BBAI), and Adobe (ADBE.US) all fell over 1%, with Oracle (ORCL.US) rising nearly 1.8%. Most popular China Concept Stocks experienced intraday declines. The NASDAQ Golden Dragon China Index (HXC) rose 1.6% in the early session, but then fell sharply during afternoon trading. The corresponding ETF, Invesco Golden Dragon China ETF (PGJ.US), also fell more than 1% in the afternoon, closing down nearly 0.4% and over 0.7%, respectively, both falling for two consecutive days and continuing to hit the lowest level since May 1. China Concept ETF KWEB and CQQQ fell nearly 0.2% and rose nearly 0.3% respectively. Among new car manufacturers, XPeng (XPEV.US) fell more than 2%, Nio Inc (NIO.US) fell more than 1%, while Jikexueyuan (JKS.US) rose nearly 1.7%, up over 0.9%. Among other individual stocks, PDD Holdings (PDD.US) fell nearly 2%, Baidu (BIDU.US) fell more than 1%, and NetEase (NTES.US) fell 0.8%, Alibaba (BABA.US) fell nearly 0.6%. However, Tencent's fanatic surge increased by more than 2%, and Bilibili (BILI.US), which rose 4.8% in the early session, rose more than 1%. Also, in the case of stocks with large fluctuations, retail trader and lead advocate Keith Gill returned to the discussion after three years. BigBear.ai (BBAI), Adobe (ADBE.US)NetEase (NTES.US)$C3.ai(c3.ai.US)$fell nearly 0.4%, whileOracle (ORCL.US)rose nearly 1.8%.

Most popular China Concept Stocks experienced intraday declines. The NASDAQ Golden Dragon China Index (HXC) rose 1.6% in the early session, but then fell sharply during afternoon trading. The corresponding ETF Invesco Golden Dragon China ETF (PGJ.US)also fell more than 1%, closing down nearly 0.4% and over 0.7%, respectively, both falling for two consecutive days and continuing to hit the lowest level since May 1. China Concept ETF KWEB and CQQQ fell nearly 0.2% and rose nearly 0.3% respectively. Among new car manufacturers, XPeng (XPEV.US) fell more than 2%,Nio Inc (NIO.US)fell more than 1%, while Jikexueyuan (JKS.US) rose nearly 1.7%,Li Auto Inc (LI.US)PDD Holdings (PDD.US) fell nearly 2%,Baidu (BIDU.US) fell more than 1%,NetEase (NTES.US)fell 0.8%,Alibaba (BABA.US)fell nearly 0.6%, while Tencent's fanatic surge increased by more than 2%, and Bilibili (BILI.US), which rose 4.8% in the early session, rose more than 1%. Down nearly 0.6%, while Tencent's fan shares rose more than 2%, Bilibili, which rose 4.8% in early trading, rose more than 1%, and JD.com rose nearly 1%.

As for the stocks with large fluctuations, retail trader and lead advocate Keith Gill returned to the discussion after three years.$Reddit (RDDT.US)$According to forum posts and screenshots posted last Sunday, the holder of 5 million shares of GameStop, worth nearly $116 million, saw an initial surge of 75% in the market; however, the increase narrowed to less than 30% in early trading, and closed up 21%. GPC Medical, a biotech firm, rose 54.2% to announce its mid-term clinical trial results, which showed a weight loss of about 6% in patients with obesity after taking its experimental weight loss drugs for 12 weeks. Meanwhile, the ship and yacht service company OneWater Marine (ONEW.US) sought to acquire Skydance for $40 per share, a 40% premium over Friday's closing price, and closed up 27%, while MarineMax (HZO.US) closed up 7.5% after reports said it had agreed on the merger's terms and may announce an agreement to acquire Skydance in the next few days. Faraday Future (FFIE) opened up 27.5%, up 7.1%; however, the waste management company Waste Management (WM.US) announced its acquisition of medical waste disposal company Stericycle (SRCL.US) with a valuation of $7.3 billion, causing the former to fall almost 4.5% and the latter to rise nearly 14.6%. In terms of sectors, real estate and telecommunications, sensitive to interest rates, rose nearly 1.6%, utilities rose nearly 1%, while the oil and gas sector fell 0.7%, and the medical sector fell nearly 0.3% due to continuing litigation in Delaware courts involving over 70,000 lawsuits against its heartburn medication Zantac. GlaxoSmithKline (GSK.WI.US) listed on the London Stock Exchange, fell more than 9.5%. Treasury Bond ETF (511010.SH) and Anshuo US Treasury Bond ETF (GOVT) rose 0.51%, sustained a three-day rally and hit a high not seen since May 22. Bitcoin (BTC.CC)$ Gamestop (GME.US) $Please use your Futubull account to access the feature.$Shuodi Biotech (GPCR.US)$Rose 54.2%; the media reported.OneWater Marine (ONEW.US)seeking to acquire it for $40 per share with a 40% premium over last Friday's closing priceMarineMax (HZO.US)closed up 27% after reports that it had reached an agreement on the merger's terms and may announce an agreement to acquire Skydance in the next few days. Paramount Universal (PARA) rose 7.5% after reports regarding the merger's terms. Waste Management (WM.US) announced that they will acquire medical waste disposal company Stericycle (SRCL.US) with a valuation of $7.3 billionStericycle (SRCL.US)The former closes almost 4.5% and the latter rises nearly 14.6%.

In Europe, investors expected a rate cut after the European Central Bank meeting on Thursday and the pan-European Stoxx 600 index rose for three consecutive trading days. The major European stock indices mostly rose, with French and Italian stock indices rising for three consecutive days, while German and Spanish stock indices, which had fallen slightly on Friday, also rose, while the UK stock index, which had risen for two consecutive days, fell.

In terms of sectors, real estate and telecommunications, sensitive to interest rates, rose nearly 1.6%, utilities rose nearly 1%, while the oil and gas sector fell 0.7%, and the medical sector fell nearly 0.3% due to continuing litigation in Delaware courts involving more than 70,000 lawsuits against its heartburn medication Zantac.GlaxoSmithKline (GSK.WI.US) listed on the London Stock Exchange, fell over 9.5%.Dropped more than 9.5%.

After the ISM data, the yield on the 10-year U.S. Treasury bond fell more than 10 basis points to a nearly three-week low.

USATreasury Bond ETF (511010.SH)and Anshuo US Treasury Bond ETF (GOVT), rose 0.51%, sustained a three-day rally, and hit a high not seen since May 22.

The yield on 10-year benchmark Treasury bonds rose to nearly 4.50% in early Asian trading, then fell overall. After the US ISM manufacturing index was released, US stocks fell sharply in early trading, and at noon it had fallen below 4.39%, hitting a low since May 15, down nearly 11 basis points from the intraday high, and was about 4.39% at the end of the bond market, down nearly 11 basis points intraday for three consecutive days.

The yield on 2-year Treasury bonds, which is more sensitive to interest rate prospects, rose to a daily high of more than 4.88% in the early European session, then quickly fell below 4.82% after the ISM manufacturing index was released. US stocks fell to below 4.81% in the final trading of the day, hitting a low since May 21, and at the end of the bond market, it was about 4.81% intraday and down about 6 basis points intraday for four consecutive days.

After the ISM data, the US dollar index hit a new seven-week low, and the euro hit a two-month high. Bitcoin once again rose above $70,000.

Tracking the ICE US dollar index (DXY) against a basket of six major currencies including the euro, the index rose above 104.70 in early European trading, rising less than 0.1% during the day. European stocks fell after regular trading hours, and after the US ISM manufacturing data was released, the index fell sharply, dropping below 104.10 at the close of US stocks, down nearly 0.6% during the day, hitting a low since the announcement of US March CPI on April 10.

At the end of Monday's foreign exchange trading session, the US dollar index was below 104.10, and fell by nearly 0.6% during the day. The Bloomberg US dollar spot index, which tracks the exchange rate between the US dollar and ten other currencies, rose slightly during the day, stopping the decline of the past two days together with the US dollar index.

Non-US currencies rose across the board. The Japanese yen rebounded to a two-week high after falling last week, and the USD/JPY once fell below 156.00 during regular US trading hours, hitting a low since May 21, down nearly 0.9% during the day. After US ISM data was released, the EUR/USD and GBP/USD accelerated their rise. The EUR/USD hit 1.0900 at the end of US regular trading hours, hitting a high since March 21, rising more than 0.5% during the day. The GBP/USD rose above 1.2800 during regular US trading hours, hitting a high since March 21, rising about 0.5% during the day.

Offshore RMB (CNH) fell to a daily low of 7.2642 in early Asian trading, maintained its upward trend during European and American trading hours, accelerated its rise after the US ISM data was released, rising to 7.2511 during regular US trading hours, up 119 points during the day, avoiding the intraday low since falling below 7.27 on last Wednesday. As of 4:59 am Beijing time on June 4th, offshore RMB against the US dollar reported 7.2517 yuan, up 93 points from the end of last week's New York trading session, rebounding after falling last week.

Bitcoin (BTC.CC)In the early trading of US stocks, it rose above $70,200, re-crossing the $70,000 mark during the day for the first time since last Monday, May 27. However, it quickly lost this level and gave back some of its gains. US stocks fell below $68,600 in early trading and hovered around $69,300 at the close, rising more than 2% in the last 24 hours. The market capitalization of the second largest cryptocurrency, second only to Bitcoin.Ethereum (ETH.CC)In the early trading of US stocks, it rose above $3,840 to refresh the daily high. However, US stocks turned downward during the regular trading hours and closed below $3,780, falling by at least 0.1% during the day.

Crude oil fell more than 3%, marking the largest drop in nearly five months and a new low in nearly four months.

International crude oil futures continued to fall. During the Asian trading hours, US WTI crude oil and Brent crude oil rose by nearly 0.7%. After turning downward, European stocks rose slightly several times during the day, and after US ISM manufacturing data was released, they fell rapidly. Since early February for Brent oil and below $74.00 for US oil, they both hit intraday lows since February 8th, down more than 3.9% and 3.6% respectively during the day.

Finally, crude oil fell for four consecutive trading days, marking the largest daily drop since Saudi Arabia's official crude oil selling price to Asia was unexpectedly lowered on January 8th. WTI July crude oil futures fell $2.77, nearly 3.60%, to $74.22 per barrel, hitting a closing low since February 7th. Brent August crude oil futures fell $2.75, or 3.39%, to $78.36 per barrel, hitting a closing low since February 5th.

Crude oil product ETFUnited States Oil Fund LP (USO.US)It fell 4%, hitting a closing low since February 14th, while the Brent crude oil ETF, United States Brent Oil Fund LP (BNO), fell 3.8%, hitting a closing low since February 7th, both falling for four consecutive days.

US gasoline and natural gas futures saw different movements. Last Friday's rebounded NYMEX July gasoline futures fell by about 3.4%, hitting a new low in more than three months, at $2.3356/gallon; NYMEX July natural gas futures rose by 6.53%, at $2.7560/million British Thermal Units, rising for two consecutive days, wiping out most of last week's decline.

London copper rose 1% and London tin fell more than 2%, falling for three consecutive days. After the release of US ISM data, gold rose more than 1% during regular trading hours.

London base metals futures saw mixed performance on Monday. Leading the way, London copper rose by about 1%, rallying after three consecutive days of decline that nearly brought its price under $10,000 per ton for the first time in three weeks. In contrast, London aluminum, which had been declining for two straight days and was at its lowest level in a week, and London lead, which had fallen for four straight days and reached a two-week low, both rebounded. London tin, however, fell by more than 2%, while London zinc and London nickel, both of which had fallen for three consecutive days, reached three-week lows.

After the release of the US ISM Manufacturing Index, gold widened gains, with the main contract for August rising nearly 1.3% during midday trading of US stocks, and spot gold rising toward $2355, a gain of almost 1.2% during the same period.

By the time the US stock market reached midday trading, COMEX August gold futures had risen 1% to $2369.3 per ounce, wiping out last week’s losses. Shares of SPDR Gold Trust (GLD) rose 0.89% after last week’s decline. At the close of trading, spot gold was below $2350, up about 0.9% during the day.

After the release of the US ISM Manufacturing Index, New York silver futures reached a new high of nearly $30.70, rising more than 1.7% during the day. COMEX July silver futures, which had fallen for two consecutive days and reached their lowest level since May 16, rose 1.13% to $30.784 per ounce. In contrast, iShares Silver Trust (SLV), which had fallen for three consecutive days, rose 0.47%.

Editor/Lambor