Market Summary - July 3, 2026
US Market Overview
The US market was closed today in observance of Independence Day, leading to a significant reduction in trading volume and volatility. Futures indicate a moderate improvement in market sentiment following declines from the previous day, with the US100 index closing up by 1.18%.
Company News - US
- Anthropic: The company has taken measures to prevent the "scalping" of its data and algorithms by Chinese firms. Concurrently, Alibaba has prohibited the internal use of Claude due to security concerns.
- Iran: A funeral for the former Supreme Leader was held, with many previously unseen Iranian officials attending, suggesting a potential resolution to the US-Iran conflict.
- Meta: CEO Mark Zuckerberg noted that the development of agentic AI is progressing slower than anticipated. However, Meta's internal AI models are reportedly now competitive with those of industry leaders like OpenAI and Anthropic.
- Michael Burry: The investor has taken a short position in Micron, citing concerns over its valuation and cyclical nature.
- Donald Trump: In a CNBC interview, the US President expressed his goal for 40-60% of global chip production to be based in the US and projected GDP growth of 12-13%. He also mentioned plans to continue efforts to remove Lisa Cook from the Federal Reserve.
- Tesla and Apple: Both companies are bolstering the valuations of Chinese suppliers, which are experiencing increased demand and production.
European Market Overview
The European market is experiencing mixed sentiments due to the easing tensions on the US-Iran front, concerns regarding gas inventories, and the European Central Bank's (ECB) policy. Most European indices ended the day higher, with SPA35 and NED25 leading gains of over 1%.
Company News - Europe
- Gas Prices: European gas prices have surged to their highest levels in three weeks due to worries about low inventories amid extreme temperatures.
- Semiconductors: Major European semiconductor companies like ASML, Nokia, STM, and ASM have seen stock increases of over 3% due to expectations of further orders from Asia and the US.
- Auto1: Shares of the German used-car seller rose more than 5% following a positive recommendation from JP Morgan, citing improving operational metrics.
- Critical Metals: The company signed an updated agreement with European Lithium Limited, but both stocks fell by more than 2%.
Forex Market
The most significant movements in the forex market were observed in AUDUSD and GBPJPY, with both currencies appreciating by approximately 0.2% against other major currencies due to high inflation in the UK and Australia, which is leading to expectations of higher interest rates.
Commodities Market
Commodity trading was limited due to the US market closure. Silver and zinc prices increased by 2%, while natural gas and gold rose by 1%.
Cryptocurrency Market
There was a noticeable improvement in sentiment within the cryptocurrency market, with broad-based gains. Bitcoin rose about 1%, surpassing USD 62,000, while Ethereum and Chainlink each increased by 2%.