S&P 500 – 7,575.39 (+0.42%)

Dow Jones – 52,637.01 (+0.29%)

NASDAQ – 26,281.61 (+0.29%)

• Wall Street Extends Winning Streak: U.S. stocks finished Friday in positive territory as investors wrapped up another strong week and looked ahead to one of the busiest stretches of the summer, packed with inflation data, earnings reports, and key economic updates.
• AI Battle Escalates Between Apple & OpenAI: Apple’s lawsuit against OpenAI marks a major new chapter in the artificial intelligence race, with the tech giants clashing over allegations involving stolen trade secrets tied to OpenAI’s push into consumer hardware.
• AI Chip Boom Fuels SK Hynix Surge: SK Hynix’s explosive Nasdaq debut highlights growing investor demand for AI infrastructure, as the semiconductor giant benefits from surging demand for advanced memory chips powering next-generation artificial intelligence systems.
• Delta Signals Travel Demand Remains Strong: Delta Air Lines’ better-than-expected earnings and upbeat outlook show the company’s confidence that strong travel demand, premium bookings, and pricing power will continue driving growth.
• World Cup Could Lift Jobs Growth: Goldman Sachs estimates World Cup-related activity may contribute roughly 40,000 jobs to June payroll growth, providing another sign of resilience in the U.S. labor market.
• Seahawks Enter New Era With Record Sale: The Seattle Seahawks are moving into a new ownership era after agreeing to a record-setting $9.6 billion sale, highlighting the rapidly rising value of elite sports franchises.
• Communication Services & Materials Lead Market Gains: Most S&P 500 sectors closed higher, with communication services and materials outperforming, while healthcare was the only sector to finish in negative territory.
• Bond Market Remains Steady: Treasury yields showed little movement, with the 10-year Treasury yield ending near 4.56% and the 2-year yield holding around 4.20% as investors continued monitoring inflation and Fed policy expectations.
• Geopolitical Risks Stay in Focus: Tensions between the U.S. and Iran remained on investors’ radar, but with no major new developments, oil prices stayed relatively stable, with WTI crude settling just below $72 per barrel.
• Housing Market Faces Continued Pressure: Existing home sales declined 2.4% in June, falling short of expectations as elevated mortgage rates and affordability challenges continued weighing on housing activity, although sales remained slightly above year-ago levels.
• Strait of Hormuz Closure Raises Energy Concerns: Iran announced the Strait of Hormuz had been closed again after its military fired a warning shot that struck a vessel traveling through the strategic waterway without authorization, adding fresh uncertainty to global energy markets.
• Crypto Stocks Catch a Bid: Digital asset stocks rallied after Circle Internet Group (CRCL) jumped 13% following approval to launch Circle National Trust, a crypto-focused bank designed to strengthen USDC infrastructure. The move also lifted shares of Coinbase Global (COIN) and Strategy (MSTR).
• Transportation Stocks Gain Momentum: J.B. Hunt Transport Services (JBHT) climbed roughly 4% after Bernstein upgraded the stock to “Outperform” from “Market Perform,” citing improving industry conditions and future earnings potential.
• Meta Doubles Down on AI Ambitions: Meta Platforms (META) continued its rally, rising another 3% after a previous session gain, as investors reacted to new AI announcements and
• Nasdaq & Semiconductor Stocks Reclaim Key Levels: From a technical perspective, the Nasdaq Composite and PHLX Semiconductor Index (SOX) regained their 50-day moving averages after briefly slipping below those important support levels earlier in the week.
• Fed Minutes Reveal Policy Divide: The latest Federal Reserve meeting minutes offered limited guidance on future rate decisions, but revealed policymakers remain split between holding rates steady and considering additional tightening if inflation remains elevated.
• U.S. Growth Outlook Improves: The Atlanta Fed’s GDPNow forecast for second-quarter growth was slightly upgraded to 1.3% from 1.2%, signaling continued economic resilience despite persistent inflation pressures and tighter financial conditions.

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“Football is an art, like dancing.” 

— Pelé

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Notable Stocks

• Nvidia (NVDA)
• Meta Platforms (META)
• Circle Internet Group (CRCL)
• J.B. Hunt Transport Services (JBHT)
• Delta Air Lines (DAL)

Weekly Notables

Seattle Seahawks Set for Record-Breaking $9.6 Billion Sale to Khosla-Led Ownership Group

The Seattle Seahawks are set to enter a new era after the franchise agreed to a record-setting $9.612 billion sale to an ownership group led by tech investor Vinod Khosla and his family. The deal, which still requires approval from NFL owners, would mark the largest franchise sale in league history. The Khosla family, which includes Vinod Khosla, his wife Neeru Khosla, and their son Neal Khosla, emerged as the preferred buyer following a competitive sales process managed by Allen & Company. Neeru Khosla is expected to serve as the controlling owner, while Vinod Khosla, co-founder of Sun Microsystems and founder of Khosla Ventures, brings deep technology and investment experience to the franchise.

World Cup Could Deliver a Boost to June Jobs Report as Hiring Picks Up

The upcoming June jobs report could receive an unexpected boost from the World Cup, with Goldman Sachs estimating the global sporting event may have added roughly 40,000 jobs to U.S. payroll growth. While economists expect hiring to slow from May’s strong gains, increased activity in host cities and service industries could provide a meaningful lift.

Earnings Spotlight: Bank of America (BAC)

Bank of America (NYSE: BAC) is scheduled to release its Q2 2026 financial results on Tuesday, July 14, 2026, before the market opens. Analysts currently forecast an EPS of $1.11 alongside $30.42 billion in revenue. 

What to Watch Ahead

All eyes are now on a packed calendar featuring June inflation data, major bank earnings, retail sales, and fresh housing reports that could help shape expectations for the economy and the Federal Reserve.

Tuesday brings the highly anticipated Consumer Price Index (CPI), followed by the Producer Price Index (PPI) on Wednesday, offering investors a fresh look at inflation trends. Thursday's retail sales report will provide insight into consumer spending, while Friday rounds out the week with key housing market data. Earnings season also begins in earnest, with several of the nation's largest banks reporting second-quarter results. Analysts are currently forecasting nearly 25% year-over-year earnings growth for the S&P 500, highlighting expectations for another strong corporate reporting season.

July 13: No major data or earnings expected.

July 14: June Consumer Price Index (CPI), congressional testimony from Fed Chairman Kevin Warsh, and expected earnings from JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), and Citigroup (C).

July 15: June Producer Price Index (PPI) and core PPI, and expected earnings from ASML (ASML), Johnson & Johnson (JNJ), Morgan Stanley (MS), BlackRock (BLK), Progressive (PGR), Bank of New York Mellon (BNY), PNC Financial Services (PNC), Kinder Morgan (KMI), United Airlines (UAL), and JB Hunt Transport (JBHT).

July 16: Expected earnings from Taiwan Semiconductor Manufacturing (TSM), GE Aerospace (GE), UnitedHealth Group (UNH), Abbott Laboratories (ABT), US Bancorp (USB), Netflix (NFLX), and Intuitive Surgical (ISRG).

July 17: June housing starts, June building permits, June industrial production, July preliminary University of Michigan consumer sentiment, and expected earnings from Travelers (TRV), Truist Financial (TFC), and Fifth Third Bancorp (FITB).