Morning Commentary: Wednesday 2nd July

US equities were generally range-bound, except for the Dow, which played catch-up with the S&P and Nasdaq and is attempting to test its own all-time highs.

 

 

US equities were generally range-bound, except for the Dow, which played catch-up with the S&P and Nasdaq and is attempting to test its own all-time highs.

Trump said he won't delay the July 9 deadline for imposing higher levies, as investors continue to monitor the situation.

Trump’s $3.3 trillion tax and spending cut bill passed the Senate after Vice President JD Vance cast the tie-breaking vote.

House lawmakers are returning to Washington from the holiday week to vote Wednesday on the Senate version of the bill.

Payrolls on Thursday are coming into focus, as any deterioration in the labor market could influence a July rate cut.

  • Bitcoin rose 0.6% to $106,637.97

  • Ether rose 1.1% to $2,442.64

  • Spot gold was little changed

  • Crude rose 0.2% to $65.56

For today, the ADP Non-Farm Employment Change report will be the most impactful data release.



**For professional investors only** Any opinions, news, research, analyses, prices, or other information contained in this blog is provided as general market commentary and does not constitute (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Some of this information may have been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is made or given by or on behalf of iSAM Securities or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this blog, and no responsibility or liability is accepted for any such information. As a result, any person acting on any information does so entirely at their own risk. iSAM Securities will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.