5 important factors to consider before the stock market opens on Monday

Presented below are the crucial news updates that investors need to begin their trading day:

Stock markets will commence the second half of the year with a shortened trading day. In preparation for the July 4 holiday, markets will close at 1 p.m. ET and remain closed until Tuesday. While equities had a successful first half, the gains were not evenly distributed across the major indexes. The tech-heavy Nasdaq experienced a remarkable 31.7% surge, fueled by optimism surrounding artificial intelligence. The S&P 500 climbed 15.9%, while the Dow Jones Industrial Average lagged behind with a 3.8% gain. Traders will closely monitor the June jobs data, set to be released on Friday. Access live market updates here.

Treasury Secretary Janet Yellen will engage with high-ranking Chinese officials in Beijing this week. This move reflects the United States’ effort to enhance relations with China in the midst of prolonged rivalry between the world’s two largest economies. Reports suggest that the U.S. is considering limitations on the export of AI chips from China, which would be the latest development in a long-standing economic conflict between the two nations. The Treasury Department emphasized the need for responsible management of the U.S.-China relationship, direct communication regarding areas of concern, and collaborative efforts to address global challenges. Earlier this year, Secretary Yellen outlined her priorities for the U.S.-China relationship.

Tesla reported a substantial increase in deliveries during the second quarter. The company successfully delivered 466,140 vehicles, representing an impressive 83% YoY growth. These figures surpassed Wall Street’s expectations and can be attributed to Tesla’s efforts to expand manufacturing capacity. Incentives were also offered to boost sales in the U.S.

A combination of storms and staffing shortages resulted in widespread flight delays during the busy July 4 travel period. Over 42,000 flights arrived late, and over 7,900 flights were canceled from the previous Saturday through Friday. United Airlines experienced greater challenges compared to its competitors, prompting the airline to offer 30,000 frequent flyer miles to highly disrupted passengers. Adjustments to their flight schedule may also be made in light of this difficult period.

The conservative majority Supreme Court concluded a highly consequential term, with far-reaching implications for millions of Americans. The court rejected affirmative action in college admissions, a ruling that will impact not only the admission process for students of color but also potentially influence hiring decisions within companies. Additionally, the court ruled in favor of a web designer who refused to work on same-sex weddings, potentially shaping how businesses handle other protected groups. Furthermore, President Joe Biden’s plan to forgive up to $20,000 per borrower in federal student loans was struck down, putting pressure on individuals facing the resumption of loan payments amidst persistent inflation.

– Report contributions: CNBC’s Samantha Subin, Fred Imbert, Christine Wang, Lora Kolodny, Leslie Josephs, Dan Mangan, and Annie Nova.

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