Rio Times Global Economy Briefing
The Big Three
Records on three indices. The S&P 500 cleared 7,600 for the first time, the Nasdaq broke 27,000, and the Dow closed at 51,078.88 — all three at fresh highs as Nvidia jumped 6% on a new PC chip launch.
Oil snapped higher. WTI surged 5.93% to $92.54 and Brent rose 4.24% to $97.79 as Iran reportedly suspended communications with Washington and threatened to close the Strait of Hormuz.
ISM Manufacturing hit a four-year high. The May reading rose to 54.0 from 52.7, with new orders at 56.8 — corroborating Friday’s Chicago PMI surge and confirming a real factory expansion.
