Nasdaq new record | Will rising cases setback hiring? | A 'highly accomodative' Fed

The Dow began the third quarter on a quiet note, but the Nasdaq 100 set a new high.

VIEW IN BROWSER | SUBSCRIBE WED, JUL 01, 2020 EVENING BRIEF AS OF WED, JUL 01, 2020 • 04:20 ET DJIA 25734.97 -0.30% -77.91 S&P 500 3115.86 +0.50% +15.57 NASDAQ 10154.63 +0.95% +95.86   Most Active DOW NAME LAST CHG %CHG PFE 33.74 +1.04 +3.18% BA 180.32 -2.98 -1.63% MSFT 204.70 +1.19 +0.58% S&P 500 NAME LAST CHG %CHG GE 6.74 -0.09 -1.32% AAL 12.81 -0.26 -1.99% UAL 34.45 -0.16 -0.46% NASDAQ NAME LAST CHG %CHG AAL 12.81 -0.26 -1.99% UAL 34.45 -0.16 -0.46% FB 237.55 +10.48 +4.62% EDITOR'S NOTE Companies have been rehiring workers as states reopen for business and economists expect they created 3 million jobs in June.   We'll know more when the monthly jobs report comes out Thursday at 8:30 a.m. ET. For now, ADP numbers released Wednesday show private payrolls grew by 2.369 million in June.   CNBC's Patti Domm writes that the upcoming employment data won't show whatever setbacks the labor market suffered as coronavirus cases began to spike in the final weeks of June, forcing rollbacks of reopening plans.   "It's possible you get a negative [July jobs] number, which would be really bad for sentiment and really bad for the outlook," said Michael Gapen, chief U.S. economist at Barclays.   The Dow Jones Industrial Average swung between modest gains and losses on Wednesday. It ended the day slightly lower with the prospect of disrupted reopenings on investors' minds. The technology laden Nasdaq Composite rose to a record close however.   Billionaire restaurant and entertainment magnate Tilman Fertitta told CNBC's "Power Lunch" that the surge in new cases is clearly frustrating the recovery. "Our employees aren't yo-yos," he said.  "We can't just say, 'OK, get off unemployment, come back to work,' and then we send them home again. And that's where we are right now."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  S&P 500 rises to start the new quarter, tech leads Nasdaq Composite to record close Pfizer stock jumps after it reports positive data in early stage coronavirus vaccine trial Jobs data for June could show strong rehiring ahead of the latest virus wave Stocks just closed out a big quarter. History shows this is what usually happens next Economy's second-half comeback is now threatened by coronavirus resurgence WHO warns some countries may have to reinstate lockdowns as coronavirus pandemic accelerates Track the latest coronavirus news here June private payrolls rose 2.37 million and there was a big positive revision for May, ADP says Fed officials see need for 'highly accommodative' policy ahead, minutes show Swing state voters give Trump dismal marks as coronavirus cases spike, CNBC/Change Research poll finds     TOP VIDEO Pfizer research chief on early positive vaccine results   CNBC PRO Trusted 60/40 investing strategy is broken, and investors should shift away from 'safe' bonds, JPMorgan strategists say   SPECIAL REPORTS Tech just had its best quarter since 1999. Traders look to one group for signs of what's next One Dow stock to buy (and one to avoid) in third quarter, according to this trader   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS