Wednesday saw the S&P 500 and Dow close higher by 0.6% and 0.5%, respectively, with the Nasdaq gaining 0.9% to close at a record high, driven by strong AI momentum.
Nvidia rose nearly 2%, briefly touching a $4 trillion market cap, while Palantir added 2.5%. Boeing (+3.7%) and Caterpillar (+2%) led industrial gains, lifting the sector to a record close alongside tech.
Investors remain focused on the inflationary impact of tariffs after the Fed’s June minutes showed officials split on the scale and timing of rate cuts.
Key Economic Releases
At 12:30 GMT, Weekly Jobless Claims for the week ending July 5 are due, with forecasts expecting an increase of 2,000 to 235,000 from 233,000 prior. A higher reading could support Fed easing expectations if labor market cooling aligns with inflation moderation, while a lower print may challenge near-term dovish bias and support yields.
Notable Earnings
Delta Air Lines (DAL) reports pre-market, with the Street expecting Q2 EPS of $2.02 on revenue of $15.4 billion. Focus will be on management’s view of tariff-related business travel impacts.
Additional pre-market reports:
