US stocks traded higher midway through trading on Thursday, with the Dow Jones index gaining over 150 points. The Dow traded up 0.32% to 52,513.93 while the NASDAQ rose 0.84% to 26,088.28. The S&P 500 also rose, gaining 0.60% to 7,527.54. Information technology shares jumped by 1.3%, while communication services stocks fell by 1.7%.

PepsiCo, Inc. shares fell around 5% after the company reported second-quarter results that topped revenue expectations but fell short on adjusted earnings. Net revenue rose 6.4% year over year to $24.18 billion, beating the $23.96 billion analyst estimate. Core EPS increased 4% to $2.20, missing the $2.21 estimate, while GAAP EPS rose 137% to $2.18.

Market Movers

Virax Biolabs Group Ltd shares shot up 260% to $11.44 after the company announced its subsidiary entered into an exclusive multi-country commercial supply agreement with Fosun Diagnostics. Forte Biosciences Inc shares surged 42% to $29.17 after reporting results from a Phase 1b study in Vitiligo. Rocket One Inc shares gained 36% to $1.09 after adding SpaceXAI API to its technology stack.

Aimei Health Technology Co Ltd shares dropped 47% to $14.20 after terminating the business combination agreement with United Hydrogen Group. Gloo Holdings Inc shares were down 19% to $3.23 after pricing a $22.75 million offering. Rackspace Technology, Inc fell 23% to $5.08 after cutting its FY26 revenue guidance and filing a prospectus for an offering.

Commodities and Global Markets

In commodity news, oil traded down 0.9% to $72.87 while gold traded up 1.3% at $4,135.80. Silver traded up 3.6% to $60.670, while copper rose 2.6% to $6.2630.

European shares were mostly higher. The eurozone’s STOXX 600 rose 0.7%, while Spain’s IBEX 35 Index rose 1%. London’s FTSE 100 fell 0.4%, Germany’s DAX gained 0.5%, and France’s CAC 40 gained 0.7%.

Asian markets closed mixed. Japan’s Nikkei 225 gained 1.38%, Hong Kong’s Hang Seng index fell 0.70%, China’s Shanghai Composite rose 1.65%, and India’s BSE Sensex gained 0.31%.

Economic Data

US initial jobless claims declined by 2,000 to 215,000 in the week to July 4, compared to market estimates of 218,000.

U.S. financial markets, including the New York Stock Exchange and Nasdaq, will be closed on Friday, July 3, in observance of the Independence Day holiday. Regular trading is scheduled to resume the following Monday, July 6. The closure coincides with the Fourth of July falling on a Saturday, prompting adjustments across the financial and government sectors.

Market and Bank Operations

While equity and bond markets are shuttered, cryptocurrency markets will continue their 24/7 trading schedule unaffected by the federal holiday. Commercial banks will remain open on Friday, July 3, but will close on Saturday, July 4. ATMs and digital banking applications will remain fully operational throughout the weekend.

The U.S. Postal Service will deliver mail normally on Friday, but post offices will be closed on Saturday. FedEx Corp. (NYSE: FDX) and United Parcel Service Inc. (NYSE: UPS) will operate with modified hours on Friday and remain largely closed on Saturday.

Retail and Government Status

Non-essential federal and state government offices, including Department of Motor Vehicles locations, will close on both Friday and Saturday. Conversely, major retailers and restaurants will largely remain open to capitalize on holiday shopping. Costco Wholesale Corp. (NASDAQ: COST) will be closed on the Fourth of July, while Sam’s Club, a subsidiary of Walmart Inc. (NASDAQ: WMT), will have modified hours.

Upcoming Market Holidays

Following the holiday weekend, the remaining scheduled 2026 closures for U.S. markets include Labor Day on Monday, Sept. 7, Thanksgiving on Thursday, Nov. 26, and Christmas Day on Friday, Dec. 25.