S&P 500 Slips on Oil Spike but Closes Above 7,600 for First Time

On June 3 the S&P 500 fell 0.38 percent as surging oil prices and rising Treasury yields triggered a broad pullback, ending a nine-day winning streak. The index nevertheless closed above 7,600 for the first time after posting a record intraday peak of 7,617.66 and a 7,599.96 close on June 1. An AI-led tech rally had lifted equities roughly 4 percent over recent weeks while Bitcoin fell 13 percent and gold declined 5 percent, but renewed Middle East tensions pushed WTI and Brent toward $95–$98 and lifted the 10-year yield near 4.5 percent, tempering risk appetite.