U.S. stock indexes edged closer to record highs Monday, following a strong May performance.

The S&P 500 rose 0.4%, the Dow gained 0.1%, and the Nasdaq climbed 0.7%.

Early losses tied to weak U.S. manufacturing data and tariff concerns were offset by rallies in key tech stocks like Nvidia and Meta.

Oil prices surged over 3% amid OPEC+ output news and Ukraine-Russia conflict uncertainty.

President Trump’s escalating tariffs — including a steel import tariff hike to 50% — boosted steelmaker stocks but hurt automakers.

Meanwhile, rising Treasury yields reflected ongoing deficit concerns, the Associated Press has reported.

Trade tensions with China also weighed on global markets.

Written by B.C. Begley