Public Markets 24 Hours

Last updated: July 2, 2026, 5:30 PM ET

Markets Overview

U.S. stocks finished a holiday-shortened week mixed, with the Dow Jones Industrial Average edging higher while the Nasdaq and S&P 500 indexes declined, as investors grappled with cooling jobs data and a pullback in technology shares Dow Rises. The June jobs report revealed slower-than-expected hiring, prompting a recalibration of Federal Reserve rate-hike expectations for July U.S. Stocks Mixed. This sentiment also saw Treasury yields recover ground lost earlier in the week, ending higher after the disappointing labor figures Treasury Yields Rise. Wall Street, however, is largely maintaining conviction in a higher market, shrugging off recent shocks and anticipating continued gains in the second half of 2026 Wall Street Bets Rallying.

Technology & Semiconductors

The technology sector experienced a notable downturn, with semiconductor stocks tumbling again and marking their worst two-day selloff in nearly a month to start the third quarter Chip Stocks Off. This tech weakness contributed to the broader market's inability to sustain gains following the June jobs report US Stocks Erase Gains. The AI spending frenzy that powered a semiconductor surge is now facing scrutiny, with moves from Meta Platforms and SoftBank Group exposing potential fault lines in the growing pile of AI debt. Meanwhile, Amazon.com Inc. launched 29 satellites, paving the way for its broadband service to challenge SpaceX’s Starlink later this year.

Energy & Commodities

Crude oil futures edged higher ahead of the U.S. Independence Day holiday, recovering from earlier losses. U.S. crude refiners are experiencing some of the best profit margins in years, signaling lingering supply-chain issues despite increased shipments through the Strait of Hormuz Refiner Profits Soaring. Saudi Arabia's crude oil exports have surged close to pre-war levels as tankers navigate the Strait of Hormuz once more Saudi Oil Flows Hit. India plans to expand its oil reserves and storage capacity to guard against price volatility India Plans to Expand. Palm oil edged lower, influenced by declining crude prices and a forecast for strong output from Malaysia Palm Oil Dips.

M&A and Capital Markets

Defense company Lockheed Martin is reportedly in the lead to acquire naval tech group Ultra Maritime, with an agreement potentially announced as early as next week. Barclays Plc withdrew a near $1 billion financing deal for Sound Inpatient Physicians Inc. from the debt capital markets, a rare instance of a leveraged loan deal being pulled this year. Blackstone Inc.-backed Jersey Mike’s Subs Inc. and gas-station operator Cumberland Farms Ltd. filed for initial public offerings, broadening the market for new U.S. listings. Chanel agreed to buy Charvet, the oldest shirtmaker in France, in a rare acquisition for the fashion house Chanel Buys Charvet. German drone maker Quantum Systems raised $1.2 billion at an $8 billion valuation to expand production.

Financial Services & Regulation

JPMorgan Chase & Co. lost a battle over legal expenses for Charlie Javice, with a Delaware judge ruling the bank must continue to pay her bills. Invesco Advisers Inc.’s head of investment-grade credit for North America criticized SpaceX’s inaugural bond sale for its “very sloppy” secondary market performance. The Justice Department is investigating an alleged insider trading scheme that impacted Susquehanna International Group. The Financial Conduct Authority (FCA) has fined Forvis Mazars £600,000 for "pervasive" audit failings. PwC is taking additional office space in Canary Wharf as it considers its main London headquarters. The European Court of Justice upheld a record €4.1 billion EU fine against Google over its Android operating system.

Corporate & Business News

Genuine Parts Co. has attracted a cash bid for its auto-parts arm from O’Reilly Automotive Inc. as it refocuses on industrials. Santé Cie, a healthcare group owned by Ardian, has had its bank accounts seized amid an investigation into dealings with healthcare professionals. Two Harbors Investment Corp. shareholders approved a merger with Cross Country Mortgage, thwarting an attempt by Ishbia’s mortgage takeover. SAS AB Chief Executive Officer Anko van der Werff is reportedly a frontrunner to lead Air Canada. Aventiv Technologies has reached an out-of-court deal for lenders to take control of the prison phone company. Tesla sales surged 25% in Europe in the second quarter, driven by price cuts, while U.S. sales were offset by the end of EV tax credits Tesla Sales Jumped. Germany's auto industry faces challenges, with Volkswagen serving as a test case for the nation's adaptability.

Economic & Geopolitical Developments

Venezuela is facing fuel shortages that are hampering earthquake rescue efforts, with excavation equipment sitting idle Fuel Shortages Stall Rescue. Ukraine continues its attacks within Russia, prompting deadly ballistic missile and drone strikes from President Vladimir V. Putin in Kyiv Putin Retaliates. Russia's broader military campaign has largely stalled despite continued bombardment of Ukrainian cities Russia Bombards Ukrainian Capital. The Democratic Republic of Congo is planning its first stock exchange to attract investment amidst a mineral boom Congo Plans First Stock. India is accelerating plans to sell stakes in state-owned companies to bolster its budget, which has been impacted by oil prices India Ramps Up Share.

Other Notable News

Comex gold ended the week 0.81% higher at $4112.70, with silver also gaining Comex Gold Ends Higher. Brown University had its credit rating outlook lowered to negative by Moody’s Ratings, citing expense pressures. Spotify has asked prediction markets to remove its logo after identifying users manipulating rankings. David Hearn, a former canoeist, was indicted after an arrest at President Trump's Reflecting Pool. The U.S. Justice Department is probing an alleged insider trading scheme that stung Susquehanna International Group. French heatwaves have caused significant damage to poultry and corn crops French Heat Wave Kills. Data centers have been ordered to use backup power to reduce strain on the electrical grid during the ongoing heatwave Data Centers Ordered.