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July 4th Morning Report

Thursday 4th July 2024

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US markets closed higher on Wednesday as the S&P 500 index and technology-laden Nasdaq rose to record high closes, as data pointing to a softening economy raised hopes the Federal Reserve could cut interest rates in September.

The Dow Jones Industrial Average closed slightly lower, pressured by selling in healthcare and consumer stocks during a shortened trading session ahead of the Fourth of July. The market will stay closed on Thursday for U.S. Independence Day, keeping trading volumes thin throughout the week.

 The Dow Jones Industrial Average closed down 0.06%, while the S&P 500 and Nasdaq Composite were up 0.51% and 0.88% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.61%), the Dax 30 (+1.16%), CAC 40 (+1.24%) and the STOXX (+1.21%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+1.26%), HSI (+1.18%) and the Shanghai Composite (-0.49%).

The yield on the US 10 - year note was at 4.354%, while the 2 - year note was at 4.706%. Oil was up to $83.88 per barrel, up 1.29%. The gold price was at US$2369.40 per ounce, up 1.54%. 

July 4th Morning Report

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