Public Markets 3 Days

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

Public Markets Overview

Equities

U.S. stocks concluded a mixed trading session as June jobs data significantly cooled expectations for a Federal Reserve interest rate hike this month, with hiring figures falling well below forecasts U.S. Stocks Mixed. This jobs report also coincided with a renewed sell-off in semiconductor stocks, which have experienced a challenging start to the third quarter with a two-day skid Chip Stocks Tumble. Despite broader tech weakness, the Dow industrials managed to eke out gains, though the Nasdaq and S&P 500 saw declines amid the tech sector's struggles Dow Rises After June. Wall Street, however, is entering the second half of 2026 with a degree of confidence, appearing poised to shrug off shocks and push markets higher. Canadian equities, meanwhile, are outperforming their U.S. counterparts for the second consecutive year, driven by a surge in bank stocks Canadian Stocks Beating US.

Fixed Income & Currencies

Treasury yields recovered from earlier losses following the disappointing labor data, ending the holiday-shortened week higher Treasury Yields Rise. The dollar saw a broad weakening after the dismal U.S. payrolls data, which eased speculation of imminent Japanese intervention to support the yen Dollar Weakened Broadly. However, traders remained alert to potential intervention, with the dollar edging higher amid speculation that Japanese authorities might act during the U.S. holiday-thinned trading day Dollar Steady Traders Alert. Emerging market currencies erased their year-to-date gains as the dollar advanced, with South Korea's won sliding toward its weakest level since the 2009 financial crisis, leading a retreat in Asian currencies as global funds divested local equities Emerging-Market Currencies Erase Gains.

Commodities & Energy

Comex gold concluded the week with a modest gain of 0.81%, settling at $4,112.70 an ounce, marking its third consecutive session of gains alongside silver Comex Gold Ends Higher. Gold prices also saw a rise as traders evaluated the Federal Reserve's potential rate path following remarks from Chairman Kevin Warsh Gold Rises as Traders. Crude oil futures edged higher ahead of the U.S. Independence Day holiday, recovering from earlier losses Oil Futures Edge Up. U.S. crude oil inventories continued their decline, falling by 3.8 million barrels in the week ended June 26, leaving them about 7% below the five-year average U.S. Crude Oil Inventories Decline. Refiner profits are experiencing a significant boost, signaling lingering supply chain issues in the Strait of Hormuz despite increased energy shipments Refiner Profits Soaring. India is planning to expand its strategic oil reserves and storage capacity, seeking to hedge against price volatility in the wake of the Iran war India Plans to Expand.

Deals & Corporate News

Lockheed Martin is reportedly in the lead to acquire the naval technology group Ultra Maritime, with an agreement potentially announced as early as next week Lockheed Martin to Buy. Barclays Plc has withdrawn a near $1 billion financing package for Sound Inpatient Physicians Inc. from the debt capital markets, a rare move for a leveraged loan deal this year Barclays Pulls Debt Deal. Invesco Advisers Inc. criticized SpaceX's inaugural bond sale for its "very sloppy" secondary market performance Invesco Criticizes SpaceX Bond. Genuine Parts Co. has received a cash offer for its auto-parts division from O’Reilly Automotive Inc. as it looks to concentrate on its industrial businesses Genuine Parts Attracts O'Reilly Bid.

Private equity firm Blackstone Inc.-backed Jersey Mike’s Subs Inc. and the gas station and convenience store operator Cumberland Farms Ltd. have both filed for initial public offerings, signaling a broadening market for new U.S. listings Jersey Mike’s, Cumberland Farms. Jersey Mike's is targeting a valuation of up to $12 billion for its sandwich business Jersey Mike's Targets $12bn Valuation. The IPO pipeline in India is at a record high, with bankers anticipating accelerated activity India IPO Pipeline Hits.

Chanel has agreed to acquire Charvet, a historic French shirtmaker known for its high-end striped shirts, in a rare acquisition for the luxury fashion house Chanel Buys Charvet. The luxury market sees increasing pressure between Chanel and Dior, with both French houses appointing star designers to revitalize sales Chanel, Dior Pressure Mounts.

Technology & AI

Amazon aims to launch its internet service later this year with the deployment of 29 satellites, positioning itself as a competitor to SpaceX's Starlink Amazon Begin Internet Service. The U.S. has lifted restrictions on Anthropic’s most powerful AI models, allowing the company to bring its advanced technologies back online U.S. Lifts AI Model Restrictions. Battery startups are experiencing significant demand for their products, needed to manage power surges in data centers that are increasingly driven by AI training Battery Startups See 'Crazy'. Germany's Quantum Systems, a drone manufacturer, has raised $1.2 billion at an $8 billion valuation to expand its production and invest in autonomous systems powered by artificial intelligence German Drone Maker Raises.

Regulatory & Legal

The European Union's markets regulator has advised national authorities to block Binance's application to operate under a new regulatory regime, leading the crypto exchange to cut off European users due to financial-crime concerns Binance Cuts Off European. A small fraction of EU crypto groups have secured licenses as stringent bloc-wide MiCA regulations take effect, pushing unlicensed entities to offload customers EU Crypto Groups Licensed. JPMorgan Chase & Co. has lost a legal battle over Charlie Javice's legal expenses, with a Delaware judge ruling the bank must continue to pay her bills after failing to prove the $74 million in fees were clearly excessive JPMorgan Loses Legal Expense. The Justice Department is investigating an alleged insider trading scheme that may have netted $100 million on options bets placed before a Chinese regulatory crackdown, based on allegations from Susquehanna International Group DOJ Probes Insider Trading.

Geopolitics & Global Affairs

Russia continued its bombardment of Ukrainian cities, with deadly drone and missile strikes on Kyiv killing at least 21 people and damaging residential buildings Russia Bombards Kyiv. Despite these attacks, Russia's broader military campaign has largely stalled, with Moscow's forces suffering higher casualties than their Ukrainian counterparts, according to analysts Russia's Wider Campaign Stalled. Ukraine is taking the war to Russia, prompting retaliatory strikes from President Vladimir V. Putin, including ballistic missile and drone attacks on Kyiv Putin Retaliates New Strikes. U.S. officials reportedly believed Israel was plotting to assassinate Iranian negotiators, a move that American officials feared would derail peace talks U.S. Believed Israel Plotting Assassination. Long-delayed funeral ceremonies for Ayatollah Ali Khamenei, who was killed at the outset of the Iran war, are set to begin, presenting a critical moment for the regime to demonstrate stability Iran Prepares to Bury Leader.

Economic Trends & Outlook

The U.S. labor market showed slower but steady gains in June, with employers adding fewer jobs than the previous month but the unemployment rate ticking down to 4.2 percent June Jobs Report Steady. This report provided Federal Reserve Chairman Kevin Warsh room to focus on inflation fighting. Germany's auto industry faces challenges, with Volkswagen serving as a test case for the country's adaptation capabilities Germany's Auto Industry Faltering. Heat waves are increasingly becoming a chronic drag on the economy, with extreme temperatures posing challenges to the power grid, especially with the rise of AI data centers and drought conditions Heat Waves Chronic Drag. Natural gas is poised to surpass oil as the U.S.'s top energy source by 2030, marking a significant shift after 75 years of petroleum dominance Natural Gas Surpasses Oil.

Other Notable Developments

A 44-year-old security guard was rescued eight days after an earthquake in Venezuela, offering a rare moment of hope amid a rising death toll Man Rescued 8 Days. Fuel shortages are hampering rescue efforts in Venezuela, with excavators and cranes idled at some sites Fuel Shortages Stall Rescue. Brown University had its credit rating outlook lowered to negative by Moody's Ratings, citing expense pressures facing the institution Brown University Rating Outlook. Spotify has requested prediction market platforms remove its logo, stating no partnership exists after identifying users manipulating chart rankings tied to the streaming service Spotify Challenges Prediction Markets. The U.S. Supreme Court allowed a reporter to be fined for refusing to disclose sources for articles she wrote Supreme Court Allows Fines.