U.S. Stocks Waver as Trade Fears Offset AI Optimism and Oil Surge

U.S. equities traded mixed on June 1, 2026, as escalating trade tensions countered a rally in artificial intelligence shares and a spike in crude oil prices stoked inflation concerns. The S&P 500 was flat, while the Dow Jones Industrial Average slipped 0.2% and the Nasdaq Composite edged 0.3% higher, reflecting uneven sector performance. Tech stocks gained after Nvidia unveiled new AI chips, lifting the Philadelphia Semiconductor Index 1.5%. However, gains were capped by reports that the U.S. is considering fresh tariffs on imported goods, reviving fears of a prolonged trade war. Energy shares climbed 2% after West Texas Intermediate crude jumped 4% to $78.40 a barrel following a surprise draw in U.S. inventories. “The market is trapped between a tech-driven enthusiasm and macro headwinds from trade and energy costs,” said Quincy Krosby, chief global strategist at LPL Financial. Trading volume was 15% above the 30-day average, indicating heightened investor anxiety.