US stock index rises after ISM

In response to a series of weak economic indicators, investors' confidence that the US Federal Reserve (Fed) will begin an interest rate cut cycle during this quarter increased, and US stocks began to rise on Wednesday.

The S&P 500 stock price index and the Nasdaq 100 stock price index rose slightly and hit record highs since yesterday.

The US service industry business confidence for June announced by ISM was the biggest contraction in the past 4 years.

Also, according to ADP's announcement, the number of private sector employees in June fell short of expectations, and according to the US State Department's announcement, the number of unemployment insurance claims increased for 9 consecutive weeks, and recorded the highest in the past 2 years.

In business-related matters, Tesla attracted attention, and since recording a strong number of car deliveries on Tuesday, it has risen nearly 15%.

Also, Paramount Pictures surged 10% or more amid reports of a merger with Skydance Media.

The US stock exchange on Wednesday will close early due to the US Independence Day holiday and will reopen on Friday.