The Weekly Update
Week of July 6th, 2026
By Christopher T. Much, CFP®, AIF®
Markets notched a solid gain over a shortened trading week as investors cheered ongoing diplomatic efforts in the Middle East.
The Standard & Poor’s 500 Index rose 1.77 percent, while the Nasdaq Composite Index advanced 2.12 percent. The Dow Jones Industrial Average climbed 1.97 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 1.81 percent.
Q2 Ends with Fireworks
Stocks opened higher to start the week, climbing on weekend news regarding the U.S. and Iran.3
On the second day of trading, the rally narrowed with chip stocks leading the way. The Nasdaq rose more than 3.5 percent and the S&P 500 2 percent in the first two days of the week.
But as July began, markets pivoted as investors rotated out of some AI and tech names. The Dow hit a new intraday high before pulling back a bit. The S&P 500 and Nasdaq declined, but a handful of megacap tech stocks with company-specific news rose, limiting the downside.
On the last trading day of a shortened week, stocks initially rose after the June jobs report missed expectations, leading investors to readjust their interest rate expectations. However, as the session progressed, markets turned more mixed ahead of the holiday weekend.
The Dow Industrials ended the week at a record high.
Job Market Slows
The economy added 57,000 jobs last month, coming up short of the 115,000 economists expected. It was also short of the 129,000 jobs added in May.
This Week: Key Economic Data
Monday: PMI Composite. ISM Services Index. Three-Month Treasury Bill Auction.
Tuesday: International Trade in Goods & Services. One-Year Treasury Bill Auction.
Wednesday: EIA Petroleum Status Update. Ten-Year Treasury Note Auction. FOMC Minutes Released (June meeting). Consumer Credit.
Thursday: Weekly Jobless Claims. Fed President speeches: John Williams (New York) and Lorie Logan (Dallas). Existing Home Sales. Fed Balance Sheet.
Source: Investors Business Daily – Econoday economic calendar; July 2, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
This Week: Companies Reporting Earnings
Tuesday: PepsiCo, Inc. (PEP)
Wednesday: Delta Air Lines, Inc. (DAL)
Source: Zacks, July 2 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
