Image source: Pixabay
 

At the end of Thursday, the Dow Jones (US30) Index rose by 0.77%. The S&P 500 (US500) Index rose by 0.83%. The Nasdaq (US100) Technology Index closed higher by 0.99%. The S&P 500 (US500) and Nasdaq (US100) indices closed at record highs as Nonfarm Payrolls rose by 147,000 in June, significantly exceeding the consensus expectations of 110,000, while the unemployment rate unexpectedly fell to 4.1%, reinforcing the view that the economy is viable. Tech leaders rose: Nvidia gained 1.3% and Synopsys jumped 4.2% on the back of AI-driven earnings momentum and the White House’s decision to lift restrictions on exports of chip design software to China.

European stock markets were mostly up on Thursday. Germany’s DAX (DE40) rose by 0.61%, France’s CAC 40 (FR40) closed up 0.21%, the Spanish IBEX35 (ES35) added 0.98%, and the British FTSE 100 (UK100) closed 0.55% higher. There were reports that the EU and the US are moving towards a “political understanding” to resolve their tariff dispute by July 9. Meanwhile, a better-than-expected US employment report for June eased economic concerns and reduced the likelihood of an imminent Fed rate cut, despite ongoing uncertainty.

WTI crude oil prices fell 0.7% to $67 per barrel on Thursday, slowing their gains from the previous session as investors assessed the impact of a possible resumption of US tariffs on global fuel demand. The decline came ahead of OPEC+’s expected decision to increase production by 411,000 barrels per day. Prices rose on Wednesday after Iran suspended cooperation with the UN nuclear watchdog, heightening geopolitical tensions.

Natural gas prices (XNG/USD) in the US fell to $3.44/MMBtu on Thursday after EIA data showed the 11th consecutive week of above-average injections into storage facilities. Last week, energy companies added 55 billion cubic feet to storage, exceeding expectations of 53 billion cubic feet and significantly more than the 35 billion cubic feet added a year earlier.

On Friday, silver prices (XAG/USD) held above $36.80 an ounce, approaching 13-year highs, as renewed tensions in global trade boosted demand for safe-haven assets. Investors remained on edge after President Donald Trump announced plans to begin sending letters describing new trade tariffs or potential extensions as early as Friday, adding to uncertainty in global markets.

Asian markets traded without a single trend yesterday. Japan’s Nikkei 225 (JP225) rose by 0.06%, China’s FTSE China A50 (CHA50) added 0.57%, Hong Kong’s Hang Seng (HK50) fell by 0.63%, and Australia’s ASX 200 (AU200) showed a negative result of 0.02%.

The Reserve Bank of New Zealand (RBNZ) is expected to keep its cash rate at 3.25% next week, although investors are still expecting one or two additional 25 bps cuts this year amid concerns about the economic impact of US tariffs. Despite recent pressure, the kiwi rose 0.2% this week and is showing its second consecutive weekly gain.

The Australian dollar held steady at around $0.657 on Friday, close to eight-month highs, despite widespread expectations that the RBA will cut interest rates for the third time this year at its monetary policy meeting on July 8. The Central Bank is expected to cut rates by another 25 basis points amid falling inflation and a weakening economic outlook.

• S&P 500 (US500) 6,279.35 +51.93 (+0.83%)
• Dow Jones (US30) 44,828.53 +344.11 (+0.77%)
• DAX (DE40) 23,934.13 +144.02 (+0.61%)
• FTSE 100 (UK100) 8,823.20 +48.51 (+0.55%)
• USD Index 97.12 +0.34 (+0.35%)
   

News feed for: 2025.07.04

• Switzerland Unemployment Rate (m/m) at 08:45 (GMT+3);
• Eurozone Producer Price Index (m/m) at 12:00 (GMT+3).

More By This Author:

Today, Traders Are Focused On The Non-Farm Payrolls Labor Market Report
The US Administration Passed A Bill That Will Increase Spending By Trillions Of Dollars
The RBA Intends To Lower Rates Next Week