Overview
- European and Asian markets climbed on July 2, with Germany’s DAX up 0.5% and Hong Kong’s Hang Seng rising 0.6%, as traders prepared for the July 9 tariff resumption
- U.S. stock futures traded mixed, with Dow and S&P 500 contracts modestly higher while Nasdaq 100 futures slipped, reflecting uncertainty over trade policy
- Major U.S. banks surged after passing Federal Reserve stress tests cleared the way for increased dividends, boosting financial-sector stocks
- Las Vegas Sands, Wynn Resorts and MGM Resorts International each rose more than 7% on stronger-than-expected Macao gaming revenue
- Technology shares lagged, led by Tesla’s 5.3% fall and Nvidia’s 3% drop, while crude oil prices climbed on inflationary worries