NASDAQ will surpass NYSE in the first half of 2025
NASDAQ outperformed NYSE in the first half of 2025, raising $21.3 billion through IPOs compared to NYSE’s $8.7 billion.
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NEW YORK, July 2 (Reuters) – The S&P 500 and the Nasdaq closed on Wednesday, easing concerns about an extension of the trade war with high-tech stock profits and news of a trade deal between the US and Vietnam.
Boasted by Nasdaq Rose, Nvidia, Apple and Tesla.
Investors are looking forward to Thursday’s non-farm pay report on clues on whether the Federal Reserve can reduce borrowing costs.
Trump’s massive tax and spending bill went to the US House of Representatives for possible final approval after the Senate passed legislation. Nonpartisan analysts say it will add $3.4 trillion to national debt over the next decade.
The market opened lower after data unexpectedly fell in June, showing that the previous month’s employment acquisition was less than initially thought.
“We’re looking forward to seeing you in the process of exploring the world’s most innovative and important aspects of our efforts to ensure we’re committed to providing a range of services,” said Jim Awad, senior managing director at Clearstead Advisors LLC in New York.
“Softing and inducing the Fed is positive, but if it gets too soft, it’s negative for growth and profits.”
Trade contracts cause relief
Investors have seen whether President Donald Trump’s administration continues to advance trade, said Michael Aron, chief investment strategist at State Street Global Advisor in Boston.
“There is some relief on trade progress. The contract with Vietnam has welcomed the news,” Arone said.
According to preliminary data, the S&P 500 scored 29.28 points (0.47%) with 6,227.29 points, while the Nasdaq Composite scored 190.24 points (0.94%) at 20,393.13. The Dow Jones industrial average fell 8.70 points (0.02%) to 44,486.24.
The US and Vietnam attacked trade agreements that set 20% tariffs on many of the Southeast Asian countries’ exports.
The Trump administration teased that deals with India will also be coming soon, but others said they may not be ready by July 9th.
Tesla will rebound
Tesla bouncing after dropping early this week, despite the electric car maker’s dropping significantly in second quarter delivery. Some traders said the numbers were less severe than the dark predictions of analysts. Stock prices have flowed by more than 20% this year.
Centene fell after health insurance companies said they had withdrawn their 2025 revenue forecast after data showed a significant drop in revenue expected from market health insurance plans.
The focus is on a more comprehensive non-farm pay report on Thursday, one day earlier than usual, with the market closed on July 4th on Independence Day. The reading is expected to show that job growth cooled in June, reaching 4.3% unemployment rates, according to a Reuters economist poll.
“It’s likely that investors are hoping that this will push the Fed to a reduction rate sooner than it’s slower,” Arone said.
Reported by Sabrina Barre of New York. Sruthi Shankar and Nikhil Sharma of Bengaluru. Edited by Devika Syamnath, Pooja Desai and David Gregorio
