Public Markets 3 Hours

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

Public Markets Roundup

U.S. stocks closed mixed as disappointing June jobs data cooled rate-hike concerns, prompting investors to pare back expectations for a Federal Reserve interest-rate increase this month. The cooling labor market also weighed on semiconductor stocks, which tumbled again in the session, though Rivian Automotive Inc. managed to rally. Meanwhile, Wall Street sentiment remains broadly optimistic, with markets demonstrating a resilience to shocks in the second half of 2026. Gold prices ended the week higher at $4112.70 per ounce, with silver also posting gains, marking the third consecutive session of increases for both precious metals. Oil futures edged up ahead of the U.S. Independence Day holiday, recovering from earlier losses.

Dealmaking & 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. In the debt markets, Barclays Plc has withdrawn a near $1 billion financing package for Sound Inpatient Physicians Inc., a notable pull from the leveraged loan market this year. Invesco Advisers Inc. criticized SpaceX’s inaugural bond sale for its “very sloppy” secondary market performance. JPMorgan Chase & Co. lost a legal battle over Charlie Javice’s legal expenses, with a Delaware judge ruling the bank must continue to pay her bills. Genuine Parts Co. has received a cash bid for its auto-parts division from O’Reilly Automotive Inc. as it seeks to refocus on its industrials business according to people familiar with the matter. Sandwich chain Jersey Mike’s has filed for an IPO, with private equity group Blackstone eyeing a valuation of up to $12 billion for the purveyor of cheesesteaks.

Market Sentiment & Economic Indicators

Treasury yields recovered ground lost after disappointing labor data and ended the holiday-shortened week higher. Spotify has requested prediction markets Kalshi and Polymarket remove its logo and clarify their lack of partnership, following the identification of users manipulating song chart rankings. Moody's Ratings has lowered the outlook on Brown University’s credit rating to negative, citing expense pressures. Healthcare group Santé Cie and its subsidiaries are reportedly under investigation, leading to the seizure of their bank accounts by creditors over dealings with healthcare professionals. In a blow to a monthslong feud, shareholders of mortgage servicer Two Harbors Investment Corp. voted to approve a merger deal with Cross Country Mortgage, ending Ishbia’s takeover attempt after preliminary vote.

Global & Political Developments

Amidst a severe heatwave engulfing much of the United States, data centers have been ordered to use backup power to reduce strain on the electrical grid. Ukraine has continued taking the war to Russia, prompting President Vladimir V. Putin to retaliate with new strikes, including deadly ballistic missile and drone attacks in Kyiv on Thursday after Ukraine escalates attacks. U.S. officials reportedly believed Israel was plotting to kill Iranian negotiators, an action that American officials feared would have derailed peace talks according to officials.