News Bulletin
Thursday, July 03, 2025
Evening Edition
Economic Numbers:
|
Time |
Event |
Actual |
Forecast |
Previous |
|
Thursday, July 3, 2025 |
||||
|
8:30 |
Average Hourly Earnings (MoM) (Jun) |
0.20% |
0.30% |
0.40% |
|
8:30 |
Continuing Jobless Claims |
1,964K |
1,960K |
1,964K |
|
8:30 |
Initial Jobless Claims |
233K |
240K |
237K |
|
8:30 |
Nonfarm Payrolls (Jun) |
147K |
111K |
144K |
|
8:30 |
Unemployment Rate (Jun) |
4.10% |
4.30% |
4.20% |
|
9:45 |
S&P Global Services PMI (Jun) |
52.90 |
53.10 |
53.10 |
|
10:00 |
ISM Non-Manufacturing PMI (Jun) |
50.80 |
50.80 |
49.90 |
|
10:00 |
ISM Non-Manufacturing Prices (Jun) |
67.50 |
68.90 |
68.70 |
|
13:00 |
U.S. Baker Hughes Oil Rig Count |
425.00 |
|
432.00 |
|
13:00 |
U.S. Baker Hughes Total Rig Count |
539.00 |
|
547.00 |
Indices
|
|
CLOSE |
50 DMA |
200 DMA |
|
DJIA |
44,828.53 |
42,185.08 |
42,650.88 |
|
NASDAQ |
20,601.10 |
18,993.67 |
18,728.98 |
|
S&P 500 |
6,279.35 |
5,887.55 |
5,844.20 |
Earnings Calendar:
(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC:
After Market Close)
|
COMPANY |
EPS Act |
EPS
Fore |
Rev
Act |
Rev
Fore |
Mkt Cap |
Time |
|
Kalvista Pharma (KALV) |
-- |
-0.8489 |
-- |
0 |
595.59M |
|
|
ASOS plc PK (ASOMY) |
-- |
-- |
-- |
-- |
503.76M |
|
|
Methode Electronics (MEI) |
-- |
0.01 |
-- |
235.04M |
357.98M |
|
|
Park Aerospace (PKE) |
-- |
-- |
-- |
-- |
295.97M |
|
|
FingerMotion (FNGR) |
-- |
-- |
-- |
-- |
115.74M |
|
|
Pinstripes Holdings (PNST) |
-- |
-0.23 |
-- |
40.84M |
2.05M |
|
Market News:
The S&P 500 closed at another record
Thursday in a holiday-shortened session, a day ahead of the Independence Day
holiday, as investors digested a stronger monthly jobs report pointing to
underlying strength in the economy and chip stocks rallied after the U.S. eased
restrictions on China.
At 1:00 p.m. ET (17:00 GMT), the Dow
Jones Industrial Average rose 344 points, or 0.8%, the S&P 500 index gained
0.9% to close at a record of 6,279.35, and the NASDAQ Composite climbed 1%.
Nonfarm payrolls show resilience
The U.S. economy added more jobs than
anticipated in June, in a sign of ongoing resilience in the labor
market despite recent concerns over the impact of sweeping tariffs.
Nonfarm payrolls rose 147,000 last month
from an upwardly-revised 144,000 in May, according to a closely-watched report
from the Bureau of Labor Statistics, as job gains in
state government and health care were partially offset by declines in the
federal workforce.
Economists had expected the figure would
come in at 111,000.
Meanwhile, the unemployment rate
decelerated slightly to 4.1%, and average hourly earnings growth also eased to
0.2% on a monthly basis, suggesting inflationary pressures from this source
were limited.
"The good news here is that hourly
wages certainly are not getting out of hand. They’re subdued at 0.2% and cooler
than expected on a yearly basis,” said Peter Cardillo,
chief market economist at Spartan Capital Securities.“
Additionally, the number of Americans
filing new applications for jobless benefits fell to a six-week low last week.
U.S. strikes trade deal with Vietnam;
Sentiment has also received a boost
after Trump said the U.S. has reached a trade agreement with Vietnam, notching
a third deal ahead of the July 9 deadline, when the reciprocal tariffs are due
to return.
The deal imposes a 20% tariff on most
Vietnamese imports, and a 40% tariff on goods rerouted through Vietnam, a key
source of imported goods like footwear and athletic apparel.
Last week’s U.S.-China trade deal,
Canada’s last-minute pullback from its digital services tax, and statements
that India is close to signing an agreement have fueled
optimism for more deals ahead of Trump’s self-imposed deadline.
The White House is expected to announce
country-specific trade deals and tariff delay extensions for other nations
ahead of the re-imposition of sweeping "reciprocal" levies later this
month, according to analysts at UBS.
However, in a note to clients, the brokerage
said they believe "the Trump administration will maintain aggressive
tariff stance" even as it negotiates these bilateral trade deals and
fights legal challenges to the tariffs.
The effective U.S. tariff rate has
jumped to 15%, six times greater than it was at the beginning of the year.
Trump’s tax bill continues progress
Markets are also closely monitoring
developments on President Donald Trump’s sweeping tax-cut and spending bill.
The Republican-controlled U.S. House of
Representatives advanced the bill earlier Thursday, a procedural step setting
the stage for possible passage of the legislation in a vote expected later in
the day.
Senate Republicans had narrowly passed
the megabill on Tuesday, which is expected to add
$3.3 trillion to $3.4 trillion to the national debt.
The nonpartisan Congressional Budget
Office also projected that the bill could lead to nearly 12 million people
losing their health insurance.
Tripadvisor has interest from Starboard - WSJ, Chip stocks
shine on easing China restrictions
In the corporate sector, Tripadvisor (NASDAQ:TRIP) stock rose after
the Wall Street Journal reported that activist investor Starboard Value has
taken a stake of more than 9% in the online travel company.
Datadog
(NASDAQ:DDOG) also gained after the
software company’s stock was announced as the newest addition to the S&P
500 index.
CrowdStrike
Holdings Inc (NASDAQ:CRWD), jumped
4% after Wedbush Securities lifted its price target
on the stock to $575 from $525, citing increasing AI-led demand for cybersecurity.
NVIDIA Corporation (NASDAQ:NVDA) led the move higher in chip stocks after the U.S.
Commerce Department lifted restrictions on chip design technology exports to
China as part of a recent trade agreement between Washington and Beijing.
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