Top 5 Stock Market Insights for July 3, 2025: Paramount-Skydance Deal & Tesla Q2 Surge

Key market developments for July 3, 2024

Ahead of the Independence Day holiday, U.S. markets will close early at 1 p.m. ET today. Paramount Global (PARA) shares soar in premarket trading due to a potential $1.75 billion merger agreement with Skydance Media after months of negotiation. Investors are also focused on upcoming economic data releases covering employment and services sector performance, alongside Federal Reserve updates. Pharmaceutical giant Eli Lilly (LLY) sees gains following FDA approval of its new Alzheimer’s treatment, donanemab (Kisunla). Meanwhile, Tesla (TSLA) shares continue to climb after surpassing delivery expectations for the second quarter. U.S. stock futures remain steady leading into the shortened trading session. Here's what investors should monitor today.

1. Early Market Closure at 1 p.m. ET for Independence Day

U.S. financial markets will close early today at 1 p.m. ET ahead of the July 4th Independence Day holiday, coinciding with closures of banks, government offices, and many businesses. Normal trading hours will resume on Friday, highlighted by the release of June’s U.S. employment and wage data.

2. Paramount Global Shares Surge on Skydance Merger Talks

Paramount Global (PARA) stock jumps over 12% in premarket trading following reports that Skydance Media plans to acquire National Amusements for $1.75 billion and merge with Paramount. National Amusements, controlled by Shari Redstone, holds about 77% of Paramount’s voting shares. This potential deal revives merger discussions that previously stalled last month. Additionally, billionaire Barry Diller’s IAC, owner of ZAMONA’s parent Dotdash Meredith, has been reported exploring a bid for Paramount. The Skydance merger will require approval from a special Paramount board committee.

3. Economic Data and Fed Updates in Focus Before Holiday

Investors will digest a series of important economic reports today, including the ADP employment report offering insight into private sector job growth ahead of Friday’s official jobs numbers. Initial jobless claims data, typically released weekly, are also due. The Purchasing Managers Index (PMI) will reveal the health of the services sector, while factory orders data shed light on manufacturing trends. New York Fed President John Williams will speak in Europe, and minutes from the Federal Open Market Committee’s June meeting will provide valuable perspectives on inflation, interest rates, and economic conditions.

4. Eli Lilly Climbs After FDA Approves Alzheimer’s Drug

Eli Lilly (LLY) shares edge higher in premarket trading following FDA approval of donanemab (marketed as Kisunla), a new treatment for Alzheimer’s disease after decades of research and regulatory delays. Kisunla will compete with Biogen and Eisai’s Leqembi Alzheimer’s therapy. Notably, shares of Eli Lilly and Novo Nordisk dropped recently amid criticism from U.S. leaders over the pricing of weight-loss medications.

5. Tesla Shares Rise on Strong Q2 Deliveries

Tesla (TSLA) shares are up 2% premarket as the electric vehicle maker continues momentum following a strong Q2 delivery performance reported Tuesday. Tesla delivered 443,956 vehicles in Q2, slightly down 5% year-over-year but exceeding analyst expectations of approximately 439,000. The stock’s recent gains have helped recover losses from earlier this year, though shares remain roughly 7% lower year-to-date.

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