Friday, July 10, 2026

U.S. equities closed out the week on a positive note, anchored by surging semiconductor optimism and robust corporate guidance. The S&P 500 advanced 0.42% to 7,575.39, the Dow Jones added 0.28% to 52,637.01, and the Nasdaq ticked up 0.29% to 26,281.607. Broader market volatility eased as the VIX dropped 5.11% to 15.03, though small caps broke from the pack, pulling the Russell 2000 lower by 0.49% to 2,977.805.

Sectors in focus:

• Services-Equipment Rental & Leasing surged 4.14% as the day's top-performing industry. The charge was led by EquipmentShare, which spiked 11.4% after lifting its 2026 revenue guidance to $5.25B-$5.68B and rolling out a $500M share buyback.
• Tech & Semiconductors caught a major tailwind from SK Hynix’s record-breaking $26.5B Nasdaq debut, where ADRs soared 13.1%. Simultaneously, Nvidia (+4%) and Meta (+5.5%) climbed on news of custom AI chip production, lifting the broader indices.
• Air Transportation lagged, dropping 2.65%. Delta Air Lines fell 2.8% despite beating earnings, facing "sell-the-news" pressure and investor concerns over rising jet fuel costs.
• Energy & Commodities cooled off. WTI Crude dropped 0.74% to 71.55 as geopolitical war premiums in the Strait of Hormuz began to fade, while Gold shed 0.46% to 4,121.9.

On the radar:

• July 14: June CPI report (3.9% YoY consensus) and Fed Chair Kevin Warsh's testimony to the House Financial Services Committee. Q2 bank earnings officially kick off with JPMorgan, Bank of America, Citigroup, and Wells Fargo.
• July 15: June PPI, the Fed Beige Book, and Chair Warsh's testimony to the Senate Banking Committee.
• July 16: June Retail Sales and weekly Unemployment Claims.