Markets will face a holiday-shortened week, with a half-day on Thursday, July 3 (closing at 1:00 PM ET), and a full closure on Friday, July 4, in observance of Independence Day. While trading volume is expected to be light, that doesn’t necessarily mean volatility will be absent—particularly with major indices pushing to new all-time highs and several key developments could still drive market direction. These include the pending decision on the “Big Beautiful Bill” and its potential tax implications, the looming July 9 deadline for reciprocal tariffs in the U.S.–China trade conflict, and any renewed headlines from the Middle East, where tensions remain fragile.
On the data front, investors will be watching closely as a handful of macroeconomic releases hit the tape. Tuesday brings S&P Global and ISM Manufacturing PMI data for June, followed by the ISM Services report on Thursday. Wednesday will also feature the ADP employment report. Inflation is not expected to surprise, given the recent trend of cooling price pressures. However, attention may turn to labor data—especially if prior months see large revisions like those in May. That could raise fresh questions about the true strength of the labor market.
Earnings activity will remain quiet for now, but anticipation is already building for the Q2 earnings season, which kicks off in mid-July.
Monday
Tuesday
S&P and ISM Manufacturing PMI
Wednesday
ADP Employment
Thursday
S&P and ISM Services PMI
Markets Close at 1PM Eastern
Friday
Markets Closed
Tracking This Week
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Accenture PLC (NYSE:ACN) disappointed with its Q2 earnings report on June 20, particularly on bookings, which came in below expectations. While a short-term negative, the company’s business can be cyclical, and some softness could be attributed to macro uncertainty—particularly from trade tensions and federal spending pullbacks (including ongoing DOGE-related cuts). On a positive note, Accenture’s AI-driven revenues continue to grow at a steady 7–9% sequential pace. Technically, the stock is near a strong support level and could be an attractive entry point for long-term investors looking for a stable, dividend-paying tech name.
Baidu Inc (NASDAQ:BIDU) continues to consolidate in a tightening range, with upside potential emerging following news of a completed trade deal between the U.S. and China. Still, the stock carries risk. Its heavy AI investments and underwhelming performance in its core ad business are being compounded by persistent weakness in the Chinese economy. While BIDU appears undervalued on a relative basis, investor conviction remains low—it’s a name that’s still trading more on potential than execution.
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