NEW YORK, N.Y. – Stock prices are stabilizing on Wall Street on the first trading day of June, a sharp contrast to the plunge they took on Friday.
The Dow Jones industrial average was up 60 points at 15,174 as of noon (1600 GMT) Monday, a gain of 0.4 per cent. On Friday it plunged 208 points, its worst drop in six weeks.
The Standard & Poor’s 500 was down three points at 1,626, or 0.2 per cent. The Nasdaq fell 27 points, or 0.5 per cent, to 3,438.
The yield on the 10-year Treasury note fell to 2.09 per cent after an industry group reported that U.S. manufacturing contracted last month.
Merck led the Dow higher with a gain of 5 per cent.
Energy stocks rose after the price of crude oil moved higher. Chevron was up 1 per cent.