Wall Street Steadies Ahead of Holiday Break

Wall Street is closed tomorrow for the 4th of July

Deputy Editor
Jul 3, 2023 at 1:32 PM
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The shortened trading session saw little change on Wall Street, as investors pored over today's lower-than-expected ISM manufacturing purchasing managers' index (PMI) data. The Dow, S&P 500, and Nasdaq each logged a marginal win. Markets are closed tomorrow in observation of Independence Day. 

Continue reading for more on today's market, including:

  • Schaeffer's Senior Market Strategist Matthew Timpane breaks down the bullishness heading into July.
  • Why call traders loved Tesla's delivery numbers
  • Plus, a disappointing drug trial; holiday travel hiccups; and a first-half recap. 

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5 Things to Know Today

  1. Treasury Secretary Janet Yellen will travel to Beijing later this week to speak to Chinese officials regarding macroeconomic and financial issues, as well as relations between the U.S. and China. (CNBC)
  2. Despite regulatory crackdowns, Bitcoin (BTC) continues to hold well above the key $30,000 level. (MarketWatch)
  3. Behind AstraZeneca's disappointing lung cancer drug.
  4. Delays and cancellations weigh on United Airlines stock.
  5. How the second quarter ended.

There were no earnings or unusual volume of note today due to the shortened session. 

Oil Sees Volatile Day After Overseas Updates

Oil futures were lower at last glance, but mostly higher for much of the day. This was following Saudi Arabia's announcement that it will extend its production cut through August, while Russia said it will cut exports this month. At last check, August-dated crude was down 41 cents, or 0.6%, at $70.22 per barrel.*

Gold prices followed up a lackluster month with a mixed session, last seen trading flat. August-dated gold is at breakeven, or $1,929, at last check.*

* These prices are approximate and taken at 1 P.M. EST, due to the early market close.

 

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