Market Overview

In June, the U.S. ADP employment report unexpectedly fell to a four-month low, and jobless claims rose more than expected. The ISM services index also shrank sharply, increasing market expectations for a rate cut by the Fed in September.

$S&P 500 Index(.SPX.US)$ and $Nasdaq Composite Index(.IXIC.US)$ reached new highs, while $Dow Jones Industrial Average(.DJI.US)$ narrowed its losses significantly by the close. $Alphabet-A(GOOGL.US)$ , $Apple(AAPL.US)$ , and $Microsoft(MSFT.US)$ all hit record highs. $Tesla(TSLA.US)$ surged over 7%, marking a cumulative 35% gain over seven days. The semiconductor index rose nearly 2%, with $NVIDIA(NVDA.US)$ turning up 4.6%. German, French, and Italian stock indices all rose over 1%.

Yields on 5- to 10-year U.S. Treasuries fell more than 10 basis points intraday. The dollar hit a three-week low, and the yen neared 162, hitting a 38-year low for the third consecutive day.

The U.S. EIA reported a crude oil inventory drop of over 12 million barrels, suggesting strong demand, with oil prices rising over 1% to a two-month high. Spot gold climbed over 1%, surpassing $2,360 to a two-week high. Silver surged nearly 4%, crossing $30, while London copper, zinc, and nickel rose about 2%.

$ProShares UltraPro Short QQQ ETF(SQQQ.US)$ $ProShares UltraPro QQQ ETF(TQQQ.US)$ $Crude Oil Futures(SEP4)(CLmain.US)$ $U.S. 20-Year Treasury Bonds Yield(US20Y.BD)$ $iShares U.S. Treasury Bond ETF(GOVT.US)$ $U.S. 5-Year Treasury Notes Yield(US5Y.BD)$

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