Global Markets:
- Asian Stock Markets : Nikkei down 1.81%, Shanghai Composite down 1.04% Hang Seng down 0.70% ASX down 0.27%
- Commodities : Gold at $4,143.06 (-0.58%) Silver at $61.508 (-1.33%), Brent Oil at $72.47 (0.67%), WTI Oil at $68.97 (0.61%)
- Rates : US 10-year yield at 4.472, UK 10-year yield at 4.7992, Germany 10-year yield at 2.9452
News & Data:
- (USD) ISM Services PMI 54.0 to 54.2 expected
Markets Update:
U.S. stocks continued their upward momentum on Monday after ending the previous week with solid gains. The S&P 500 rose 0.72% to 7,537.43, while the Nasdaq Composite gained 1.12% to close at 26,121.16. The Dow Jones Industrial Average added 155.84 points, or 0.29%, reaching a record close of 53,055.91 after also touching a new intraday high.
Technology stocks led the rally, with the Technology Select Sector SPDR ETF climbing nearly 2%. Western Digital surged 7%, while Teradyne advanced 2.8%. Marvell Technology and Oracle also posted notable gains, reflecting continued investor interest in the sector.
Last week, the Dow climbed nearly 2%, while the S&P 500 and Nasdaq gained 1.8% and 2.1%, respectively. However, semiconductor stocks remained under pressure, with the VanEck Semiconductor ETF falling 3.2% for its second straight weekly decline despite remaining significantly higher for the year.
Market strategist Anthony Saglimbene said future gains will depend on strong corporate fundamentals, earnings growth, interest rates, and the overall economy rather than continued momentum in artificial intelligence stocks alone. He expects leadership to shift between AI-related companies and the broader market in the coming months.
Meanwhile, Microsoft slipped nearly 1% after announcing 4,800 job cuts, while Dell Technologies gained more than 4% following a public endorsement from President Donald Trump.
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The post Tuesday 7th July 2026: U.S. Stocks Extend Rally as Technology Shares Lead Gains first appeared on IC Your Trading Edge | Official Blog.