Republic Risk: WEEKLY ISSUE (Before Holiday)

The market just won't slow down, even though every alarm bell is ringing.

Equity Storm Watch Is YELLOW on the S&P 500 and YELLOW on the Russell 2000

Futures edged slightly higher this morning, building on the momentum from yesterday's session, where the S&P 500 closed above 5500. This morning, our focus shifts to ADP's employment report, weekly jobless claims, and service sector PMIs, all ahead of an early market close at 1 pm ET for the holiday. 

Again… the market closes at 1 pm today.

Markets will reopen on Friday, July 5, when June's job report arrives. 

Expect lower-than-usual trading volume today as most will check in early, then check out for the holiday. While the market favors gains in light trading, it remains vulnerable to additional volatility. 

After today's market close, the Fed's June FOMC minutes will be released, potentially offering clues about upcoming rate cuts. The first two weeks of July are typically strong performers. We could get a big move on Friday if the minutes are seen as dovish.