EBC Markets Briefing | US equities look ahead to golden July
The S&P 500 and Nasdaq composite finished a shade lower on Thursday ahead of a key labour market report, retreating from highs reached in the previous session.
Those two indexes hit record closing highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could support a start to the Fed's policy easing cycle.
A report on Tuesday showed job openings fell in April to the fewest in more than three years. The May private payrolls report on Wednesday was the latest data to suggest an easing in labour market tightness.
Nvidia rallied to record highs earlier this week, with the AI chipmaker's valuation breaching the $3 trillion mark and overtaking Apple to become the world's second most valuable company.
Analysts' projections for Nvidia's future earnings have outpaced its stellar stock gains. Nvidia is trading at 39 times expected earnings, making it less expensive on that basis than a year ago, LSEG data showed.
A flood of cash from passive equity allocations will pour into the stock market in early July, setting up a continuing rally through the early summer, according to Goldman Sachs Group Inc.’s trading desk.
The Wall St bank said that share prices will benefit from strong seasonal trends coming from retail investors. Historically, the first 15 days of July were the best two-week trading period of the year for equities.
EBC Fintech Development Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Forex Trading Platform or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
EBC Markets Briefing | "Blue Wave" poised to sweep across stock markets
Stocks sink amid AI wipeout, dollar shines ahead of NFP
US Payrolls in Focus as Wall Street Rout and Falling Yields Cap the Dollar | 6th November, 2026
Week Ahead – Inflation and geopolitics in focus as US political landscape shifts
The dollar saves the day
Tech Stocks Lead US Selloff Ahead of Payrolls
Technical Analysis – USDJPY stays rangebound, pinned at support near 158.00
