Evening Market Recap - Wednesday, 3-Jul

US equities were mostly higher in Wednesday trading, with the Dow Jones ending down 6bps, while the S&P500 and Nasdaq closed up 51bps and 88bps respectively. The S&P and Nasdaq both posted fresh record closes. June ISM services re-entered contractionary territory, and the final S&P services PMI for June was also lower. ADP private payrolls were a bit below consensus, with wage growth job stayers slowest since August of 2021. Initial jobless claims were a bit above expectations, and continuing claims also higher than expected. FOMC minutes out this afternoon noted participants continued to look for ‘greater confidence’ in disinflation trajectory.