US markets closed for Independence Day

The Wall Street trading floor

US stock markets are closed on Friday in observance of Independence Day and will resume normal trading at the start of next week.

At Thursday's close, the Dow Jones Industrial Average touched an all-time high to finish at a record closing level. Despite mixed performances by the S&P 500 and the Nasdaq Composite, all three major indexes posted weekly gains of around 2%.

The semiconductor sector came under selling pressure for a second consecutive session, with the VanEck Semiconductor ETF (SMH) falling 4.5%. The decline was driven by sharp losses in Teradyne, down 13.6%, and KLA Corp., down 11.5%, while Nvidia and Micron Technology fell 1.4% and 5.5%, respectively.

The moves followed the June employment report, which showed the US economy added 57,000 jobs last month, well below economists' expectations of 115,000, while the unemployment rate fell to 4.2%, compared with expectations that it would remain unchanged at 4.3%, according to CNBC.