Key Takeaways
- Ceasefire Talks: A proposed 60-day truce between Israel and Hamas eased geopolitical tensions and supported risk assets.
- U.S. Tax Bill: Senate approval of Trump’s $3 trillion tax-and-spending bill raised concerns over debt and inflation risks.
- Bitcoin (BTC/USD) Held near $106,000, showing little movement as markets balanced risk sentiment and macro caution.
- Gold slipped to $3,341 before stabilizing, as a weaker dollar cushioned the drop in safe-haven demand amid Gaza ceasefire hopes
Global Shifts & Market Sentiment
Markets were pulled in opposite directions on July 2 as shifting geopolitical signals and major U.S. policy actions shaped investor sentiment.
President Donald Trump announced Wednesday that Israel had agreed to a proposed 60-day ceasefire in Gaza and urged Hamas to respond. The move eased regional tensions, briefly pressuring safe-haven assets, such as gold.
In Washington, the Senate approved Trump’s sweeping tax-and-spending bill in a narrow 51–50 vote. The bill, which extends earlier tax cuts and expands federal spending on defense and infrastructure, is expected to increase the federal deficit by more than $3 trillion over the next decade. The plan raised concerns among bond investors and added pressure on the U.S. dollar, which is already trading near multi-year lows.”
Additionally, investors are closely watching trade developments, with the U.S. set to impose new tariffs on Chinese and Japanese imports by July 9.
With no extension announced, the looming deadline is adding to market uncertainty and heightening concerns over supply chains and global growth.
Global Indices
- S&P 500 (SPX): 6,198.02 (–0.11%)
- Dow Jones (DJI): 44,494.94 (+0.91%)
- Nasdaq Composite (IXIC): 20,202.89 (–0.82%)
- Nikkei 225 (NK2251D): 39,870.0 (–0.05%)
- Euronext 100 (N100-D): 1,565.1 (–0.24%)
- FTSE 100 (FTSE): 8,817.0 (+0.26%)
Cryptocurrencies Market
- Bitcoin (BTC/USD): 106,290 (+0.55%)
- Ethereum (ETH/USDT): 2,435.67 (+1.27%)
- Solana (SOL): 163.35 (–1.88%)
- BNB (BNBUSDT): 649.99 (+0.57%)
Commodities
- Gold: 3,341.023
- Silver: 36.1045 (+0.25%)
- WTI Crude (USOIL): 65.4 (–0.04%)
- Brent Crude (BRENT3!): 65.774 (+0.14%)
Individual Stocks
- NVIDIA (NVDA): 153.30 (–2.97%)
- Tesla (TSLA): 300.71 (–5.34%)
- Microsoft (MSFT): 492.05 (–1.08%)
- Meta Platforms (META): 719.22 (–2.56%)
- Apple (AAPL): 207.82 (+1.29%)
- Amazon (AMZN): 220.46 (+0.49%)
Forex
- U.S. Dollar Index (DXY): 96.702 (+0.05%)
- EUR/USD: 1.1796 (–0.08%)
- GBP/USD: 1.3744 (+0.01%)
- USD/JPY: 143.55 (+0.11%)
Market Wrap-Up
Markets showed a mixed picture on Wednesday as optimism over Gaza ceasefire talks fueled risk sentiment, while concerns around U.S. fiscal spending and trade tensions kept investors on edge.
The Dow climbed on gains in infrastructure and industrial stocks, while tech shares fell under pressure from rising rate expectations and global trade uncertainty.
Meanwhile, gold slipped to $3,340, with a weaker dollar helping to lessen the fall in safe-haven demand.
With key economic data and the July 9 tariff deadline looming, investors remain on alert.
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