DAILY MARKET UPDATE

July 2, 2020

Global stock markets were already moving up ahead of the U.S. employment report, likely basking in the glow of recent positive headlines around Covid-19 vaccine developments. U.S. payrolls added substantially more jobs than most had forecast, and the unemployment rate fell even faster from the spring peak. Stock markets added to gains, still led largely by the mega-cap tech names that have outperformed so much this year already. Rates briefly ticked up but are largely in line with where they were yesterday. Coronavirus infection numbers coming from hotspot U.S. sunbelt states continued to be worrying, but investors seem willing to look past those concerns despite the impending three-day weekend.

Markets: 

– Nikkei +0.11%

– Shanghai Composite +2.13%

– Hang Seng +2.85

– DAX +2.84%

– FTSE +1.34%

– CAC +2.49%

– Dow Jones +0.36% 

– S&P500 +0.45% 

– Nasdaq +0.52% 

– Russell 2000 +0.03%

BSD Global Tech Hedge Fund +0.16%