Update: Markets close at 1pm July 3, 25
SP500 at all time highs with many stocks also reaching new peaks today. Lots of volatility remains but largely to the upside. Bitcoin is tapping all time highs reaching 110,000. At the same time, gold is also holding high while it’s dealing with a mean range of around 3300 as the US dollar remains below 98 on the DXY. After a few weeks of declining, the US 10 yr is beginning to creep up from 4.2s to above the 4.3 range which is bearish as the US debt financing creeps closer. Ongoing trade deals, like the most recent one with Vietnam, and an expected rate cut in September seem to be fueling the current rally. Trump announced today that he’s lifting restrictions for chip design software companies to work with China directly impacting synopsys, cadence and ansys. With tariff day coming on July 9 as the next major day to look out for potential major market moves.