US Stock market today: Record run into early July 4 close

US Stock market today: Record run into early July 4 close

US Stock Market Today Updates

Following a record-breaking close yesterday night, U.S. equity futures continued to rise in early Wednesday trading as investors anticipated two labour market data releases and an early Wall Street closing ahead of the July 4 holiday.

Tuesday saw more strong gains in stocks, bringing the S&P 500 to close above 5,500 points for the first time ever and bringing the benchmark’s year-to-date gain to almost 15.5%.

With the Nasdaq ending above 18,000 points and at an all-time high, tech stocks were once again leading the session gains led by a 10.2% surge for Tesla (TSLA) that followed stronger-than-expected second quarter delivery data.

Standardization Despite some dovish remarks made by Fed Chairman Jerome Powell at a central banking symposium in Portugal that strengthened the case for rate cuts in the fall, 10-year Treasury note rates saw minimal movement in overnight trading, closing at 4.442% while 2-year notes saw slight movement at 4.754%.

With markets scheduled to close at 1:00 pm Eastern time ahead of tomorrow’s July 4 holiday celebrations, stocks are expected to close the first half of the holiday-shortened week with modest gains. Investor attention will be focused on payroll processing group ADP’s June employment report and weekly jobless claims from the Labor Department.

The minutes of the Federal Reserve’s June policy meeting will also be made public; however, the release is not anticipated until 2:00 pm Eastern time, which is about an hour after the markets close for the day.

Futures contracts linked to the S&P 5000 hint to an opening bell rise of two points as the Wall Street trading day gets underway, with the Dow Jones Industrial Average projected 55 points higher.

A 15-point advance is priced into the Nasdaq, which is up 20.1% on the year and partly due to premarket advances for Apple (AAPL) Tesla, and Nvidia (NVDA).

Other equities that are moving include Eli Lilly (LLY), which had a 0.63% increase in price at $912.44 per share following the FDA’s approval late Tuesday for its early Alzheimer’s treatment.

Shares of Paramount Global (PARA) were also moving, increasing 9.1% to $11.70 apiece following rumors that Shari Redstone and National Amusements had struck an agreement to sell Skydance Media their majority stake for an estimated $1.75 billion.

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wsj.com , Yahoo finance , TheStreet

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