Overview
- The S&P 500 and Nasdaq climbed to new all-time highs on July 1 driven by optimism over trade talks ahead of the July 9 tariff deadline.
- Paris’s CAC 40 opened nearly flat as traders weighed the impact of potential new U.S. duties.
- The U.S. Congressional Budget Office projected that President Trump’s budget plan would increase public debt by more than $3 trillion by 2034.
- U.S. economic releases have been reshuffled for the Independence Day holiday with ISM manufacturing data set for early July and the June jobs report moved to Thursday.
- French artificial heart maker Carmat filed for bankruptcy protection and suspended its stock trading starting June 30 after declaring cessation of payments.