Monday, July 6, 2026

Wall Street kicked off the post-holiday week in rally mode, propelled by an AI-driven tech rebound and relief over a soft June jobs report (4.2% unemployment) that eased immediate rate-hike fears. The Nasdaq led the charge, jumping 1.12% to 26,121.16, followed by the S&P 500 adding 0.72% to 7,537.43, while the Dow Jones edged up 0.29% to 53,055.91 and the Russell 2000 gained 0.45% to 3,009.541. Despite rising equities and falling volatility, with the VIX dropping 1.52% to 15.57, safe-haven demand pushed Gold up 1.20% to $4,175.4, while WTI Crude finished virtually flat, shedding 0.01% to 68.68.

Sectors in focus

• Tech & Autos Surge: Computer Storage Devices skyrocketed 5.19% as "chipflation" and AI server demand pushed memory prices to a six-fold annual high, driving Western Digital up 9.2%. Motor Vehicles & Passenger Car Bodies climbed 4.85% as investors cheered new EV rebates and favorable memory supply chain shifts. Broadcom's expanded Apple partnership also broadly lifted semiconductor sentiment.
• Defensive & Aerospace Laggards: Food and Kindred Products tumbled 3.05% as capital rotated out of staples into tech and Financial Services (+4.73%) ahead of Q2 earnings. Guided Missiles & Space Vehicles dropped 3.00% as SpaceX shares retreated on concerns over its dilutive $60 billion acquisition of AI startup Cursor.

On the radar

• Jul 07: SpaceX officially joins the Nasdaq 100 index.
• Jul 08: FOMC Minutes from the June 16-17 meeting drop, the first under Chair Kevin Warsh.
• Jul 09: June Consumer Price Index (CPI) report, with markets bracing for 4.1% YoY inflation, alongside PepsiCo (PEP) Q2 earnings.
• Jul 10: Delta Air Lines (DAL) reports Q2 earnings and SK Hynix makes its US listing debut on the Nasdaq.