The July 4, holiday was observed in the U.S, there was no trading in stocks as U.S. equity markets will be closed. The U.S. bond market is also closed, so no trading in Treasuries.
Stock futures traded on an abbreviated schedule, until 1:00 PM ET, and Energy futures traded until 2:30 PM ET. The big economic highlight of the week will be the release of the monthly employment report for June on Friday morning.
Stocks kicked off the new month on Friday with gains, but they weren't enough to cut the losses for the week.
|I:DJI||DOW JONES AVERAGES||31097.26||+321.83||+1.05%|
|I:COMP||NASDAQ COMPOSITE INDEX||11127.845123||+99.11||+0.90%|
The S&P 500 rose 1.1%. The gain snapped a four-day losing streak for the benchmark index, which still posted its fourth losing week in the last five.
The Dow Jones Industrial Average rose 1%, while the tech-heavy Nasdaq gained 0.9%.
The S&P 500 closed out its worst quarter since the onset of the pandemic in early 2020. Its performance in the first half of 2022 was the worst since the first six months of 1970.
American Airlines, a glitch in the American Airlines scheduling platform reportedly allowed pilots to drop thousands of trips as delays and cancellations have derailed Fourth of July travel plans across the country.