U.S. markets closed early Monday for the July Fourth holiday and will remain closed Tuesday.
On Wednesday, minutes from the Federal Reserve’s June meeting will be released. That will be followed Friday with the June jobs report, which economists expect to show continued resilience in the labor market.
U.S. stocks edged up. All three major indexes edged up, led by the tech-focused Nasdaq Composite, which is coming off its best first half of a year since the 1980s.
EV makers jumped. Tesla gained 6.9%, while Rivian Automotive added about 17%. U.S.-traded shares of Chinese EV maker Nio also added roughly 3.5%.
U.S. government bond yields rose. The yield on the benchmark 10-year Treasury note climbed to 3.856%, from 3.818% Friday.
Asian indexes posted gains. Shares were fueled by optimism over Treasury Secretary Janet Yellen’s coming trip to China. The Shanghai Composite rose 1.3%, its largest gain in nearly two months. Hong Kong’s Hang Seng gained 2.1%. Japan’s Nikkei 225 rose 1.7%.
Brent crude slipped. The international benchmark for oil fell after Russia's Deputy Prime Minister Alexander Novak said his country would cut oil exports in August. Saudi Arabia will also extend its supply cuts through next month.
Bitcoin continued to hover above $30,000. On Friday, the Securities and Exchange Commission said a wave of applications by asset managers to launch spot bitcoin exchange-traded funds were inadequate.
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July 04, 2023 at 02:22AM
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