Trade developments and continued momentum pushed all three major averages to modest gains again for a shortened holiday trading week. The Standard & Poor’s 500 Index rose 1.72 percent, while the Nasdaq Composite Index added 1.62 percent. The Dow Jones Industrial Average advanced 2.30 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 0.19 percent for the week through Thursday.1,2 Stocks Gain on Trade DevelopmentsStocks continued their momentum from the prior week's records following Canada's rescinding of its digital services tax, rising on optimism as investors waited for more news on trade.3 The S&P 500 and Nasdaq took a breather on July’s first trading day, while the Dow Industrials posted a modest gain. Then, stocks rallied after the news of the trade deal with Vietnam, moving past the latest ADP employment report, which showed reduced jobs last month for the first time in two years.4 In a quick retort to the ADP report, a better-than-expected June jobs report from the Bureau of Labor Statistics gave stocks another boost, reassuring investors that the U.S. economy was weathering trade and geopolitical shocks. The S&P and Dow hit record highs as the short trading week ended.5 |
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Jobs Report Mostly PositiveThe labor report for June had a few points for investors to cheer. First, employers added 147,000 jobs in June—that was 37,000 higher than economists were expecting. Unemployment ticked down to 4.1 percent from 4.2 percent. Previously reported job gains from April and May were revised upward by 16,000.6 Still, companies are in a “no hire, no fire” mode as they wait to see how trade policy impacts the economy. Caveats to the headline numbers: most gains were seen in government and healthcare. Several other sectors, including manufacturing and professional services, were flat or diminished.6 The takeaway: good news overall, but uncertainty still lingers beneath the employment surface. This Week: Key Economic Data Tuesday: NFIB Small Business Optimism Index. Consumer Credit. Wednesday: Wholesale Inventories. 10-Year Treasury Note Auction. June Fed Meeting Minutes. Thursday: Weekly Jobless Claims. St. Louis Fed President Alberto Musalem and San Francisco Fed President Mary Daly speak. Friday: Federal Budget. Source: Investors Business Daily - Econoday economic calendar; July 3, 2025 This Week: Companies Reporting EarningsNo major companies reporting this week. Source: Zacks, July 3, 2025. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice. |
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“People are like stained-glass windows. They sparkle and shine when the sun is out, but when the darkness sets in, their true beauty is revealed only if there is a light from within.” – Dr. Elisabeth Kübler-Ross |
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Tax-Deductible Educator ExpensesThe educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies, and training from their taxes. In this case, an “eligible educator” is a taxpayer who is a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide. They must work at least 900 hours a year at a school that provides elementary or secondary education. Educators can deduct up to $300 of trade or business expenses not reimbursed by their employer, a grant, or another source. Some examples of covered expenses include:
This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. Tip adapted from IRS7 |
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Choose In-Season Produce This FallEating healthy is essential to keep you and your family feeling good as the days get shorter and the temperature drops. One of the easiest ways to incorporate fresher, riper produce into your meals is to buy in-season items. Generally, in-season produce, harvested at the right time, is full of flavor and nutrition. Plus, sometimes fruits and veggies cost less when they're in season! Here are some healthy picks for the fall:
What are some of your favorite fall produce items? Tip adapted from US Department of Agriculture8 |
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Alexandra’s mom had four children. The first one was named May, the second was named June, and the third was named August. What was the fourth child's name? Last Week's Riddle: It can be told, played, and cracked, and it can even be practical. What is it? |
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Mt Cook |
Footnotes and Sources1. WSJ.com, July 3, 2025 2. Investing.com, July 3, 2025 3. CNBC.com, June 30, 2025 4. WSJ.com, July 2, 2025 5. CNBC.com, July 3, 2025 6. WSJ.com, July 3, 2025 7. IRS.gov, November 8, 2024 8. SNAP-Ed Connection, U.S. Dept. of Agriculture, March 18, 2025 |
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. The Nasdaq Composite is an index of the common stocks and similar securities listed on the Nasdaq stock market and considered a broad indicator of the performance of stocks of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.
U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.
International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.
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