Shares of industrial and transportation companies rallied on optimism about the pace of a U.S. economic reopening.
The Dallas Federal Reserve Manufacturing production index slowed the pace of retreat, standing at minus-28.0 in May, up from the minus-55.6 registered in April that posted a new record low in the survey's 16-year history.
While few economic indicators are showing growth, investors are encouraged that data are becoming "less bad," said Quincy Krosby, chief market strategist at Prudential Financial.
Boeing and Airbus are researching the new coronavirus's behavior inside jetliners, part of an industry push to curb risks that have brought air traffic to a near standstill.
Write to Rob Curran at rob.curran@dowjones.com
