1st July 2021 Morning Report

The S&P 500 recorded its fifth straight record on Wednesday. The benchmark index climbed 0.13% while the Dow Jones Industrial Average rose 0.61%. The Nasdaq Composite, meanwhile, slipped 0.17%, ending just off previous record peak. It has been both a record quarter and month, with the S&P gaining more than 14% year-to-date, beating the Dow and the Nasdaq, indicating that US stock markets are having a broad rally. The Dow and the Nasdaq have increased 13%. 

The ADP employment report showed the U.S. economy added 692,000 private-sector workers in June, a decline from the downwardly revised 886,000 jobs gained in the prior month. 

Other markets were mostly lower. European bourses were weaker across the board, with Germany’s DAX 30 declining 1.02%, France’s CAC 40 sliding 0.91% and Britain’s FTSE 100 down 0.71%. In Asia, China’s Shanghai Composite rallied 0.5% while Hong Kong’s Hang Seng index lost 0.57% and Japan’s Nikkei 225 slipped 0.07%. 

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