NEW YORK — U.S. stock indexes drifted closer to their records on Monday, coming off their stellar May, which was Wall Street’s best month since 2023.

The Standard & Poor’s 500 index rose 0.4% after erasing an early loss from the morning. The Dow Jones industrial average added 0.1%, and the Nasdaq composite climbed 0.7%.

Indexes had been down close to 1% in the morning after some discouraging updates on U.S. manufacturing. President Trump has been warning that U.S. businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty.

But stocks rallied back as the day progressed, and gains for a few influential stocks helped lift the S&P 500 even though more stocks wi

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