Heading into the Independence Day weekend, futures were relatively flat or slightly in the green Friday evening, as most presumably packed it in for the long weekend as U.S. markets will be closed Monday.
The Dow Jones Industrial Average
Ahead of the long weekend, futures are unlikely to give a good read into what Tuesday's trading will look like, but the first full week of July also is unlikely to bring with it the trepidation markets saw to begin the final week of June.
Fortunately, markets steadily recovered from the bludgeoning accrued following the U.K.'s decision to exit the European Union. U.S. indices were up slightly Friday after taking back during the midweek much of what was lost Monday.
The Dow was up 0.11%, the S&P climbed 0.2% on the day, and the Nasdaq gained 0.41% to close out the week.
With much left to be desired at week's end, hopes are that July will give investors more to look forward to than June, which appears to have been a rather lackluster month overall for markets as anticipated interest rate hikes from the Federal Reserve made traders anxious during the midmonth, and a Brexit vote threw a wrench in any hopes for a solid start to the summer.
But on the first day of the new month, world markets continued to perform well across the board, with the Shanghai Composite Index up 0.10% Friday and the Nikkei climbing another 0.68% to cap a solid week of gains. The Hang Seng also did well Friday, surging 1.75% by the closing bell.
European stock markets proved unwilling to give up their midweek fervor. The FTSE 100 in London was up 1.13% on the day, while Germany's DAX gained 0.99%, and France's CAC 40 climbed 0.86%.
Meanwhile, with Baker Hughes (BHI) reporting that U.S. oil rigs were up by 11 week-over-week, marking the fourth weekly increase in five weeks, commodity markets closed on another strong note. Industry standard Brent crude futures for September delivery finished the session up 68 cents at $50.40 a barrel, while West Texas crude contracts for August delivery settled 66 cents higher, at $48.99 per barrel.
Gold and silver futures capped the week's momentum, with gold contracts for August delivery rising 1.39% and silver contracts for September delivery skyrocketing 6.62% to settle just below $20.
New on and off the market was somewhat troubling Friday, as Murray Energy Corp., reportedly the largest privately held coal miner in the U.S., warned it may lay off 4,400 of its 5,300 employees in September as it struggles with a depressed commodity market and has failed to reach a labor agreement with union miners.
Meanwhile, Chipotle (CMG) fell more than 2% by Friday's close following reports that the company's chief creative and development officer Mark Crumpacker had been indicted on a drug charge by the Manhattan District Attorney; Williams (WMB) shares also plummeted nearly 5% in the first full day of trading after news broke Thursday that nearly half of its board had resigned in the wake of its failed merger with Energy Transfer Equity (ETE) .