ATFX ► Market Analysis ► Market Snapshot ► Daily Market Snapshot: US Stocks Surge as Tesla Leads, Treasury Yields Drop After Fed Chair Powell’s Speech – 3 July 2024

Daily Market Snapshot: US Stocks Surge as Tesla Leads, Treasury Yields Drop After Fed Chair Powell’s Speech – 3 July 2024

US stock markets experienced a good day yesterday as Tesla and the megacap growth sector pulled indices higher. Tesla powered higher after reporting strong Q2 delivery data and other major stocks also pushed higher after a slightly more dovish tone was set by Fed Chair Jerome Powell when speaking in Sintra.

Treasury yields dropped off after Powell spoke as did the dollar whilst Oil and Gold also edged lower.

It is a full event calendar in the US today as releases are crammed in ahead of tomorrows 4^th July holiday and traders are expecting plenty of volatility as markets move to thinner conditions ahead of the break.

Market	Change	Close
Dow	+0.41%	39,331
S&P	+0.62%	5,509
Nasdaq	+0.84%	18,028
USD	-0.1%	105.71
US Treasury – 2 Year	-3.1 bps	4.741%
US Treasury – 10 Year	-3.7 bps	4.442%
Oil – Brent	-0.42%	$86.24
Oil – WTI	-0.68%	$82.81
Gold	-0.3%	$2,324

Today’s Events:

Asian Session

11.30 am – Australia – Retail Sales Data

US Session

10.15 pm – US – ADP Non-Farm Employment Change Data
10.30 pm – US – Weekly Unemployment Change Data
12.00 am – US – ISM Service PMI Data
12.15 am – EU – ECB President Christine LaGarde Speaks
4.00 am – US – FOMC Meeting Minutes

Last Updated: July 3, 2024

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