Many on Wall Street grew worried that the rising risks of the racial strife and U.S.-China tensions will reverse the market's massive comeback.
The market rose slightly on the first day of June following back-to-back monthly gains. The Dow rose about 90 points on Monday after a 4.2% gain in May and a 11% rally in April. Meanwhile, the S&P 500 climbed about 0.3% after gaining 4.5% in May and 12.6% the month before.
"Good news on vaccines helped stocks in May, but US-China relations & civil unrest could steal the spotlight in June," Lori Calvasina, RBC's chief U.S. equity strategist, said in a note. "The S&P 500 remains highly news flow driven."starting at 11 p.m. and lasting until 5 a.m. Tuesday to curb protests.
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