03 July 2024 – 08:39 Central Euro Time

The Swiss Franc is at present below its Neutral Zone for today; above same are both Silver and Copper, and BEGOS Markets’ volatility is mostly light ahead of early closures for the Spoo and S&P 500. The latter settled above 5500 for the first time yesterday, albeit two recent days posted intra-day highs above that level: the “live” (futs-adj’d) P/E of the S&P is 43.0x with Q2 Earnings Season commencing next week; the S&P yields 1.324% versus the US 3mo T-bill’s annualized 5.228% Gold is basically staying buoyed above its key Market Profile support of 2338 even as near-term technicals suggest lower prices. The Econ Baro receives a bevy of metrics today: June’s ADP Employment data and ISM(Svc) Index, May’s Trade Deficit and Factory Orders, and because of tomorrow’s StateSide holiday, last week’s Jobless Claims too are squeezed into the mix.