Nasdaq surges as lower yields/ Biden rumors swirl; US markets close for July 4

More record closes for the S&P and Nasdaq indices with the Nasdaq leading the way. Lower yields and talk that Biden would look to step down, seemed to give investor some confidence. Tomorrow the US stocks will be closed in observance of the July 4 holiday.

The final numbers are showing:

• Dow Industrial Average average fell -23.87 points or -0.06% at 39308.01
• S&P index rose 27.95 points or 0.51% have 5536.97
• NASDAQ index rose 159.54 points or 0.88% at 18188.30

The small-cap Russell 2000 also advanced modestly with a gain of 2.74 points or 0.13% at 2036.61

The US debt market has one additional hour of trading ahead of the holiday tomorrow (closes at 2 PM). Yields are sharply lower after weaker ADP, weaker factory orders, and weaker ISM nonmanufacturing data. US jobs report will be released on Friday with expectations near 190K and the unemployment rate at 4.0%:

• 2-year yield 4.697%, -4.1 basis points
• 5-year yield 4.313%, -8.3 basis points
• 10 year yield 4.348% -8.7 basis points
• 30-year yield 4.521%, -2.8 basis points

Tesla shares added an additional 6.54% today after gains of 6.08% on Monday, and 10.2% on Tuesday.

Other big movers today showed:

• Nvidia shares rose 4.57%.
• Broadcom shares rose 4.33%
• Micron rose 3.19%
• AMD did not participate the chip rise a decline of -0.25%

This article was written by Greg Michalowski at www.forexlive.com.