(02 JULY 2020)DAILY MARKET BRIEF 1:Vaccine hopes, Fed minutes, jobs data.

<p>US indices finished mostly higher on Wednesday on promising Covid vaccine trial from Pfizer and BioNTech, that maintained the hope of having a vaccine by January and dashed worries regarding the mounting new infection cases in the US. Tech stocks hit another record. The S&amp;P500 advanced 0.50%, but the Dow (-0.30%) remained on the backfoot. If gains remained timid, it was certainly because the investors didn’t get what they hoped from the latest FOMC meeting minutes. It appears that the US policymakers weren’t too motivated to move on to a yield curve control tool just yet, they simply want to improve their forward guidance – the communication with the market to maintain a healthy financial system. While more guidance sounds good, over the past years, it has rather been the markets that have guided the Fed policy towards where it stands today. Therefore, Wednesday’s minutes were like telling a spoiled child that she can’t have that extra candy. On top, the People’s Bank of China (PBo</p>