Vietnam's Q2 economic growth accelerates to 8.39% - Nikkei Asia

• European Central Bank (ECB) President Christine Lagarde is considering entering the upcoming French elections. • This potential political move would likely require her to step down from her leadership role at the ECB earlier than her scheduled term.

• The New York Stock Exchange (NYSE) and Nasdaq are closed on July 3, 2026, suspending all regular trading sessions for US stocks, ETFs, and major indices like the S&P 500. • This market closure is part of a long weekend holiday schedule, halting activity for the Dow Jones Industrial Average and Nasdaq Composite.

• Punjab National Bank (PNB) reported a 12.85% growth in global business for Q1 FY27, with advances growth outpacing deposit growth. • Bharat Petroleum Corporation (BPCL) expanded its international footprint by acquiring the remaining stake in a Brazilian oil company.

• A weekly financial calendar has been released highlighting key economic indicators and market insights for the second week of July. • Major events include the RBNZ Interest Rate Decision on Wednesday, July 8, and China's Inflation Rate report on Thursday, July 9.

• The Dow Jones Industrial Average surged approximately 595 points to reach a new record high following a soft June jobs report. • In contrast, the Nasdaq declined as investors continued a deepening selloff in artificial intelligence and semiconductor stocks.

• Global stock markets in Asia and Europe surged on Friday, driven by a recovery in previously beaten-down technology shares. • The rally followed a weaker-than-anticipated US jobs report, which reduced investor fears that the Federal Reserve would implement aggressive interest rate hikes.

• The EUR/USD pair maintained modest gains on Friday, though growth stalled as the US Dollar stabilized following a weaker-than-expected US jobs report. • Market activity remained subdued due to the closure of US financial markets for the Independence Day holiday.

• The European Central Bank (ECB) released data regarding the financial status of households and non-financial corporations in the euro area for the first quarter of 2026. • A notable increase in household pension entitlements was observed, driven largely by the Netherlands converting pension schemes from defined benefits to defined contributions.

• The European Central Bank (ECB) released bank interest rate statistics for the euro area for May 2026. • The report highlights data on new loans and deposits for corporations and households, derived from monetary financial institutions' balance sheet statistics.

• The European Central Bank released balance of payments data for the first quarter of 2026, highlighting the euro area's current account surpluses. • The region recorded its largest bilateral surpluses with the United Kingdom at €236 billion and Switzerland at €78 billion, both increasing from the previous year.

• European Union trade with the United States has reached a record high, according to a recent study, despite ongoing tensions regarding tariffs. • While overall trade grew, most EU member states saw a decline in goods exports to the U.S., highlighting an uneven distribution of growth.