At the open on Thursday, July 2, the Dow Jones Industrial Average rose 267.70 points (0.51%) to 52,572.94; the S&P 500 gained 24.61 points (0.33%) to 7,507.84; the Nasdaq Composite was up 47.62 points (0.18%) at 26,087.65.

Hong Kong retail sales volume rose 4.8% YoY in May, above forecasts of 4.3% but down from April's 6.4%.

China Meteorological Administration and the National Development and Reform Commission issued the National Meteorological Development 15th Five-Year Plan, setting targets through 2030. The plan commits to major breakthroughs in key meteorological science and technology, deep integration of artificial intelligence into meteorology, marked improvements in extreme-weather monitoring, forecasting and warning capabilities, and major progress on earth-system forecasting and a national earth-system data platform. It designates meteorological data as an important driver of economic and social development and calls for strengthened meteorological support for development and security, with the aim of raising China’s meteorological science, monitoring and forecasting to world-advanced and world-leading levels and increasing international influence by 2030.