Nasdaq and S&P 500 Break All-Time Highs Ahead of ADP Jobs Data

Wednesday market minute

  • Global stocks are back from record highs but expect the strongest pace of performance in the first half since 1998.
  • Nasdaq keeps pace with Wall Street gains with a 5.7% gain in June, while the S&P 500 leads with a first half gain of around 14.22%.
  • The US dollar is poised for its biggest monthly gain in three as investors position themselves for faster inflation and rising rates, yet benchmark 10-year bond yields drop to 1,463% in overnight trading .
  • Brent crude surpasses $ 75 a barrel after a larger-than-expected drop in US stocks, although rising Delta-variant infections in Asia limited gains.
  • CDC data shows that 154.2 million Americans have been fully vaccinated against the coronavirus, with about 325.1 million doses administered as of Tuesday.
  • US equity futures suggest a softer open on Wall Street ahead of ADP June employment data at 8:15 AM ET and Constellation Brands first-quarter earnings.

US equity futures tumbled lower on Wednesday, following a streak of record highs on Wall Street that looks set to limit the best first-half performance for global stocks in more than two decades.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top