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13 articles summarized · Last updated: LATEST

Last updated: July 3, 2026, 11:30 AM ET

Markets Overview

Global equities saw broad gains, with Canada’s benchmark index climbing after Prime Minister Mark Carney unveiled a new pipeline project to the country’s West Coast climbed Friday morning. In the defense sector, a joint venture between the U.K.’s BAE Systems, Italy’s Leonardo, and Japan Aircraft Industrial Enhancement Co. secured a contract valued at $6.14 billion to develop a new stealth fighter jet won $6.14 billion. Meanwhile, a Bloomberg survey indicated that OPEC’s crude oil production surged in June as Persian Gulf members restored exports through the Strait of Hormuz following a peace accord between the US and Iran output surged June.

Economic Indicators & Policy

The U.S. dollar remained weak against a basket of currencies following worse-than-expected nonfarm payrolls data released Thursday weak against basket. This labor market weakness, however, has not deterred some policymakers. Two French chief economists suggested the Federal Reserve will likely still need to hike interest rates this year, even with recent data pointing to a softening job market Fed ECB seen diverging. In technology policy, outgoing tech adviser Sriram Krishnan indicated that former President Trump would oppose U.S. government intervention in Artificial Intelligence regulation, citing a general aversion to oversight as AI backlash grows Trump will never back.

Commodities & Corporate Activity

The oil market is facing bearish forecasts, with Citi predicting Brent crude could fall to $60 a barrel by Christmas as Wall Street analysts anticipate a return to surplus Brent could fall $60. This outlook contrasts with OPEC's June surge, driven by restored exports through the Strait of Hormuz output surged June. In corporate news, GFL Environmental Inc. is reportedly considering a take-private transaction after attracting interest from buyout firms weighs take-private. Elsewhere, financial institutions continue to charge high overdraft fees, with revenue from these charges rising after Congress repealed a capping rule last year banks still charge high. Europe’s automated border system, intended to streamline travel and deter criminals, has instead become a source of delays for travelers Europe’s smart border melted.