Stock Market cues for 3rd July: GIFT Nifty flat, US markets hit record close, Microsoft layoffs continue
Markets look set for a muted start on Thursday, with GIFT Nifty trading flat and signaling little momentum for Indian equities.
US futures edged slightly higher overnight as optimism grew after the US and Vietnam struck a trade deal. Wall Street ended largely higher, with the S&P 500 posting a record close despite lingering concerns over tariffs and the job market.
President Donald Trump announced that the US had reached a trade agreement with Vietnam but would still impose a 20% tariff on its imports, adding to global trade tensions.
The US job market showed fresh signs of stress. According to ADP, the private sector lost 33,000 jobs in June, far below expectations of a 100,000 increase. Layoffs continued across sectors, and hiring momentum slowed.
Microsoft announced plans to cut another 9,000 jobs in a second wave of major layoffs, adding to concerns over the labor market's resilience.
Overall, global cues remain mixed as markets weigh strong US stock performance against soft employment data and tariff risks.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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