US Markets Closed for Holiday as S&P Futures Rise and Dow Futures Fall

US cash equity markets remained closed July 3 for the July 4 holiday. S&P 500 futures rose 0.3 percent and Nasdaq 100 futures gained 1.2 percent as of 9:26 a.m. New York time, while Dow Jones Industrial Average futures fell 0.2 percent.

Asian shares rebounded after a prior session decline. The MSCI Asia Pacific Index rose as much as 2.2 percent, led by gains of more than 8 percent in Samsung Electronics, SK Hynix and Kioxia shares. The index is up 1.5 percent for the week.

European equities extended gains. The Stoxx Europe 600 index rose 0.5 percent to close at a record 648.41 for a second straight session. The MSCI World Index added 0.2 percent. Gold and bitcoin advanced.

Spot gold rose 1.2 percent to $4,170.41 an ounce. Bitcoin climbed 0.7 percent to $61,973.66. Weaker US employment data released the prior day supported the moves. Nonfarm payrolls rose 57,000 in June against a consensus forecast of 113,000, while the unemployment rate stood at 4.2 percent.

April and May figures were revised lower by a combined 74,000. Market-implied odds of a Federal Reserve rate hike in July fell to 18 percent. Several European companies posted sharp moves on company-specific news.

Genfit shares rose as much as 15 percent after the firm said it would benefit from US Medicare coverage for its NASHnext liver-disease test. MIPS shares jumped as much as 19 percent after settling a patent-infringement lawsuit. Craneware shares fell as much as 31 percent after the company warned that fiscal 2026 results would miss expectations.

Tim Moe, Goldman Sachs equity strategist, said the fundamentals remain very strong and the market is still underpricing them. Matthew Ryan, head of market strategy at Ebury, said the Fed will likely take a cautious approach to policy tightening absent clearer signs that energy costs have fed into underlying inflation.