On Tuesday, July 1, U.S. markets closed mixed, the S&P 500 and Nasdaq fell, pulled down by large-cap tech stocks, while the Dow gained. Volatility was high amid low liquidity. Investor optimism from potential stimulus was tempered by market concentration and a Tesla-Trump spat.
Economic data, including unexpectedly higher job openings, supported the Fed’s patient stance on rate cuts, shifting focus to Thursday’s nonfarm payrolls report.
In economic data, U.S. job openings increased to 7.769 million in May. The ISM manufacturing PMI for June rose to 49 compared to market estimates of 48.8. U.S. construction spending declined 0.3% in May to $2,138 billion annually.
Most S&P 500 sectors, including materials, healthcare, and energy, saw gains, but information technology and communication services ended lower.
The Dow rose 0.91% to 44,494.94, the S&P 500 was down 0.11% at 6,198.01, and the Nasdaq declined 0.82% to 20,202.89.
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Asia Markets Today
On Wednesday, Japan’s Nikkei 225 closed 0.58% lower at 39,755.00, led by losses in the Paper & Pulp, Transport, and Communication sectors.
Australia’s S&P/ASX 200 was up 0.66% at 8,597.70, led by gains in the A-REITs, Materials, and Metals & Mining sectors.
India’s Nifty 50 was down 0.37% at 24,221.41, and the Nifty 500 fell 0.30% to 23,544.25.
China’s Shanghai Composite was down 0.09% at 3,454.79, and Shanghai Shenzhen CSI 300 rose 0.02% to 3,943.68.
Hong Kong’s Hang Seng index closed the session at 24,221.41, higher by 0.62%
Eurozone at 05:45 AM ET
The European STOXX 50 index was up 0.64%.
Germany’s DAX index gained 0.25%.
France’s CAC 40 rose 1.16%.
U.K.’s FTSE 100 index traded higher by 0.31%.
Commodities at 05:45 AM ET
Crude Oil WTI traded higher by 0.87% at $66.02/bbl, and Brent was up 0.88% at $67.69/bbl.
Oil prices held steady as markets balanced expected OPEC+ supply increases, a weaker dollar, and mixed U.S. economic signals, including a surprise crude inventory build. Geopolitical calm and macro policy ambiguity also influenced trading.
Natural gas fell 0.91% to $3.384.
Gold traded higher by 0.06% to $3,351.12, Silver rose 0.41% to $36.000, and Copper gained 1.59% to $5.1285.
U.S. Futures
At 05:45 AM ET, the Dow Jones futures rose 0.15%, the S&P 500 gained 0.13%, and the Nasdaq 100 was up 0.10%.
Forex
At 05:45 AM ET, the U.S. Dollar Index gained 0.34% to 96.97, USD/JPY was up 0.51% to 144.61, and USD/AUD rose 0.28% to 1.5235.
The dollar index edged up slightly, supported by strong U.S. job openings data, moving away from its recent lows despite ongoing pressure from policy uncertainty and rate cut expectations.
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