Here is a comprehensive report on the top stock market news and stocks to watch for today, July 3rd, in markdown format:

Stock Market News and Analysis for July 3, 2023

Top Stock Market News

Stock Market Holiday Schedule

The U.S. stock markets will have an abbreviated trading session today, July 3rd, ahead of the Independence Day holiday tomorrow. The New York Stock Exchange (NYSE), the Nasdaq Stock Market, and the over-the-counter (OTC) markets will be open from 9:30 a.m. to 1 p.m. Eastern Time (ET). The bond market will also operate on a shortened schedule, closing at 2 p.m. ET.

On Thursday, July 4th, all U.S. stock and bond markets will be closed in observance of Independence Day.

Asian Markets Rise on Tech Boost

Asian shares were mostly higher on Wednesday, boosted by a surge in Tesla shares that helped drive U.S. benchmarks to new records. Japan's Nikkei 225 index rose 1.3%, while the broader Topix index gained 1.1%. South Korea's Kospi added 0.9%, and Hong Kong's Hang Seng gained 1.7%.

The positive sentiment in Asia followed a rally in U.S. tech stocks, led by Tesla, which jumped more than 10% after reporting better-than-expected delivery numbers for the second quarter. The gains in Tesla helped lift the Nasdaq Composite to a new record high on Monday.

Wall Street Edges Higher in Holiday-Shortened Session

U.S. stocks finished slightly higher in a holiday-shortened session on Monday, with the Dow Jones Industrial Average rising 11 points, or less than 0.1%. The S&P 500 and the Nasdaq Composite also posted modest gains, up 0.12% and 0.21%, respectively.

Investors are now turning their attention to the upcoming jobs report due on Friday, which could provide further insights into the strength of the U.S. economy and the Federal Reserve's future rate hike path.

Top Stocks to Watch

1. Tesla, Inc. (TSLA)

Tesla shares soared more than 10% on Monday after the electric vehicle maker reported better-than-expected delivery numbers for the second quarter. The company delivered a record 466,140 vehicles in the quarter, surpassing analysts' estimates of around 450,000 units.

With the impressive delivery numbers, Tesla is well on its way to achieving its goal of delivering 1.8 million vehicles this year. The company's strong performance has been fueled by its new factories in Texas and Germany, as well as robust demand for its vehicles.

2. Nvidia Corporation (NVDA)

Nvidia is a stock to watch in July as the company continues to benefit from the growing demand for artificial intelligence (AI) technologies. The stock has surged nearly 200% in 2023, driven by the company's leadership in AI chips and its potential to capitalize on the AI boom.

Nvidia is expected to release its next-generation AI chips later this year, which could further solidify its position in the AI market. Additionally, the company's recent partnerships with major cloud providers, such as Microsoft and Google, have strengthened its position in the cloud computing space.

3. Boeing Company (BA)

Boeing is one of the top stocks to watch in July as the company continues to navigate through the challenges posed by the COVID-19 pandemic and the ongoing issues with its 737 MAX aircraft. The company recently secured a major order from United Airlines for 200 737 MAX jets, providing a much-needed boost to its commercial aircraft business.

Investors will be closely monitoring Boeing's progress in delivering these aircraft and resolving any remaining issues with the 737 MAX. Additionally, the company's defense business remains a key growth driver, with several significant contracts in the pipeline.

4. Kraft Heinz Company (KHC)

Kraft Heinz, one of the world's largest consumer packaged food and beverage companies, is a stock to watch in July. The company has been focusing on cost-cutting measures and streamlining its operations to improve profitability.

With rising inflation and concerns about consumer spending, Kraft Heinz's portfolio of well-known brands, such as Kraft, Heinz, Oscar Mayer, and Maxwell House, could provide a defensive position in the consumer staples sector.

5. Occidental Petroleum Corporation (OXY)

Occidental Petroleum is a stock to watch in the energy sector as oil prices continue to fluctuate. The company is one of the largest U.S. oil and gas exploration and production companies, and it also operates a significant chemicals business.

With concerns about global economic growth and potential slowdowns, investors will be closely monitoring Occidental's ability to manage costs and maintain profitability. Additionally, the company's ongoing debt reduction efforts and potential for dividend increases could drive investor interest.

Stock Market Expected Movement

While the stock market is expected to have a shortened trading session today, analysts anticipate a relatively quiet day ahead of the Independence Day holiday. However, the upcoming jobs report on Friday could potentially influence market sentiment and provide insights into the Federal Reserve's future rate hike decisions.

Analysts suggest that a stronger-than-expected jobs report could increase the likelihood of additional rate hikes by the Fed, potentially weighing on stock market performance. Conversely, a weaker jobs report could ease concerns about aggressive rate hikes and support market gains.

Overall, the stock market is expected to remain volatile in the near term, driven by ongoing concerns about inflation, interest rates, and global economic growth. Investors are advised to closely monitor market developments and consult with financial advisors to make informed investment decisions.