US stocks rose on Fri. Trading volume was low ahead of a three-day holiday weekend. Wall Street will be closed today (Mon) for the July 4th holiday weekend.
The Dow Jones Industrial Average gained 321.83 pts, or 1.05%, to close at 31,097.26. The broader S&P 500 index rose 1.06%. The tech-heavy Nasdaq Composite advanced 0.9%. The small-cap Russell 2000 gained 1.16%.
Megacap tech stocks closed mixed on Fri. Gainers including Apple (AAPL US, +1.62%), Microsoft (MSFT US, +1.07%) and Amazon (AMZN US, +3.15%), while Alphabet (GOOGL US, -0.21%), Nvidia (NVDA US, -4.2%), and Meta Platforms (META US, -0.76%) shares fell.
Recession fears continue to drag government bond prices lower. The yield on the 10-year Treasury note slipped 13.26 basis points (bps) to 2.8803%, while the yield on the 2-year Treasuries fell 12.04 bps to 2.8329%.
The front-month Brent and WTI futures closed down $3.18 at US$111.63/bbl and $2.67 at US$108.43/bbl respectively.
Copper prices continue to tumble. The red metal fell as much as 3.7% to US$7,955 a metric ton in London on Fri, reaching a 17-month low. US Sep wheat futures tumbled 38 cents to US $8.46 a bushel n Fri to levels not seen since Russia’s invasion of Ukraine in Feb.
The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.43% to 105.138.
The most actively traded US gold futures (Aug) contracts settled down $5.80, or 0.3%, at US$1,801.50/oz. September silver, which is the most actively traded silver futures, fell 68.5 cents, or 3.4%, to end at US$19.667/oz.
European equity markets finished mixed last Fri. The UK FTSE lost 0.01%, France's CAC 40 rose 0.14%, while the German DAX advanced 0.23%.y.