The Weekly Update
Week of June 8th, 2026
By Christopher T. Much, CFP®, AIF®
Stocks slumped last week as investors winced over the potential for oil-shock inflation and concerns that strong jobs data could lead to higher interest rates.
The Dow Jones Industrial Average slipped 0.32 percent, while the Standard & Poor’s 500 Index dropped 2.59 percent. The Nasdaq Composite Index fell 4.68 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 1.41 percent.
Under Pressure
June kicked off with modest gains as a tech rally overcame rising oil prices. On Monday, all 3 averages logged new all-time intraday highs and record closes. The S&P 500 recorded its first close above 7,600 on Tuesday, while the Dow advanced nearly a half percentage point.
But stocks fell midweek as oil prices rose further. The S&P 500 broke its nine-day winning streak as investors fretted about the inflationary effects of the Middle East. By Wednesday’s close, the S&P and Dow Industrials had given back all the gains from the start of the week.
On Friday, a stronger-than-expected jobs report prompted worries that the Fed may have to adjust short-term interest rates. Markets fell broadly, with the S&P down over 2½ percent for the session and the Nasdaq down over 4 percent.
May Jobs
The federal government’s nonfarm payrolls report was out on Friday. The economy added 172,000 jobs in May, more than double what economists expected.
Employers were playing catch-up after pausing hiring amid last year’s trade policy uncertainties and federal government budget cuts. Unemployment remained at 4.3 percent for the month. ADP’s report on private-sector hiring, released Wednesday, tracked similarly to the federal data.
This Week: Key Economic Data
Tuesday: NFIB Small Business Optimism Index. U.S. Trade Balance. Existing Home Sales. Wholesale Inventories.
Wednesday: Consumer Price Index (CPI). Federal Budget.
Thursday: Weekly Jobless Claims. Producer Price Index (PPI).
Friday: Consumer Sentiment.
Source: Investors Business Daily – Econoday economic calendar; June 5, 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
Wednesday: Oracle Corporation (ORCL)
Thursday: Adobe Inc. (ADBE)
Source: Zacks, June 5, 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.
