Wall Street, which had started the week and the month of June on a mixed note, ended Monday's session with no further trend, if closing scores alone are anything to go by (the S&P500 gained +0.1%).

But in reality, heaviness dominated much of the session, and a few buybacks saved the day between 9:30 and 10:00 pm (as on Friday): no less than 66% of S&P500 stocks ended in the red.

The Dow Jones fell by -0.3%, but the Nasdaq Composite gained nearly +0.6%... while the Russell-2000 retreated by -0.5%. That's two indices up and two down... but take away Nvidia and its +4.9% to $1,150 and you've got four out of four in the red.

Once again, the Nasdaq was kept afloat by Nvidia alone: the company has just presented in Taiwan a new 'GPU' even more powerful than the very recent 'Blackwell' ($40.000 each, not yet delivered to customers) and christened 'Rubin' (also dedicated to supporting the enormous computing needs of generative artificial intelligence).

The share price of British semiconductor manufacturer Arm (+5.5%) returned to the $130 mark, Micro recovered +2.5% and Meta +2.3%, while Nvidia offset declines of -1.8% for Intel, -2% for AMD and -3.2% for Dexcom.

Among declining sectors, oil companies finished far and away the red lantern in the wake of WTI (down -4% to $78 on the NYMEX), with Halliburton -5.3%, Diamondbak and Baker Hughes -4%, Apache -3.6%, NRG Energy -3.3%, Occidental Petroleum and Chevron -3%... But this has no real impact on the S&P, as the entire oil sector does not have the same capitalization as Nvidia: you have to add the entire mining sector.

Oil's volatility can be explained by the other "fact of the day": bond yields eased by -12 basis points to 4.396%: the initial upturn before the Wall Street opening radicalized after the publication of the ISM index, which showed an accentuation of the contraction in US manufacturing activity in May.

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