From Nasdaq: 2024-07-03 11:37:12

Stock indexes are up in holiday-shortened session, with Nasdaq 100 hitting new record high. Labor market news weaker than expected, ADP employment change rose less than expected. Weekly continuing unemployment claims at 2-1/2 year high. US May trade deficit widens to 19-month high. Mortgage applications fell, 30-year fixed rate rises.

Overseas stock markets mixed, Euro Stoxx 50 up. 10-year T-notes up on weaker US labor market news. European government bond yields mixed. Eurozone PPI falls, PMI revised upwards. Swaps discount chances of ECB rate cut. Paramount Global, Tesla, mining stocks, and casino stocks move higher.

Cryptocurrency-related stocks under pressure, Bitcoin at 1-week low. Simulations Plus down after cutting EPS estimate. Azek Co. down after downgrade. Charter Communications down after downgrade. Earnings reports from Constellation Brands, Dakota Gold Corp, Lifecore Biomedical, and Simulations Plus today.

Read more at Nasdaq: Stocks Climb as Nasdaq 100 Posts a New Record High on Falling Bond Yields