Adviser Investments Vice President Charlie Toole has the market analysis for Monday, June 17. Major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes started the week with light trading and slight gains. The Dow Jones Industrial Average and S&P 500 rose 0.1% while the NASDAQ Composite gained 0.6%. Meanwhile, the Empire State Manufacturing Index for May came in far below expectations: New York-based manufacturing activity plunged more than 25 points month-over-month to its lowest level and first negative reading since 2016. Also, Pfizer announced its $11 billion acquisition of Array BioPharma. Pfizer’s stock remained steady on the merger news while Array BioPharma’s soared 59%.
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