U.S. stock futures trended lower early Tuesday, after the S&P 500 ended a strong quarter with another record high. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.27%, 0.11%, and 0.21%, respectively, at 4:44 a.m. EST, July 1.
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In Monday’s regular trading, the S&P 500 rose 0.52% to notch another record close, while the Nasdaq Composite gained 0.47% to set a fresh all-time high. The Dow Jones added 275 points, or 0.63%, as all three indexes extended their winning streaks. Meanwhile, for the month, the S&P 500 and the Nasdaq Composite gained 5% and 6.6%, respectively, while the Dow Jones climbed 4.3%.
Stock prices rose on Monday after Canada dropped its plan for a digital services tax to help trade talks with the U.S. The move came after President Trump said on Friday that he would stop all trade talks with Canada. Investors are now hoping the U.S. will reach deals with other countries soon, as Trump’s 90-day pause on major tariffs is set to end next week.
In after-hours trading, Wolfspeed (WOLF) gained 70% after the chipmaker announced a restructuring plan aimed at slashing debt and stabilizing its finances. Also, Circle Internet Group (CRCL) stock was up 2% after it applied to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank.
On the economic front, investors are watching for the S&P Global Purchasing Managers’ Index at 9:45 a.m. ET for a look at manufacturing activity, followed by the ISM manufacturing report at 10 a.m. The JOLTS report, which tracks job openings and worker turnover, is also due Tuesday morning.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.19%. Simultaneously, WTI crude oil futures are trending lower, hovering near $64.88 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price increased to nearly $3,340 per ounce on Tuesday.
Elsewhere, European stocks opened slightly higher on Tuesday as investors kept an eye on trade talks with the U.S. ahead of the July 9 deadline for possible reciprocal tariffs.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets were mixed on Tuesday as investors weighed Wall Street’s record rally and the global effects of President Trump’s tariff policy, with his 90-day reprieve set to end next week.
Japan’s Nikkei and Topix indices declined 1.24% and 0.73%, respectively. At the same time, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.39% and 0.11%, respectively.
Meanwhile, the Hong Kong market is closed today in observance of Hong Kong Special Administrative Region Establishment Day, a public holiday.
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