[BRIEFING.COM] The stock market started a holiday-abbreviated week on a sharply higher note as a pullback in oil prices culminated in relatively broad gains and strong leadership from mega-cap and tech names. The S&P 500 (+1.6%), Nasdaq Composite (+2.9%), and DJIA (+1.0%) traded in a narrow range after the initial oil-driven opening gains, with the DJIA securing fresh all-time high levels.

Yesterday's announcement from President Trump that the U.S. and Iran have reached a peace agreement, which will include the reopening of the Strait of Hormuz and lifting Iran's naval blockade, provided the spark for a constructive session today. The deal is expected to be signed on Friday in Switzerland, and while questions remain around some of the tougher issues, including Iran's nuclear program, the market was satisfied by the progress and the subsequent slide in oil prices. Crude oil futures settled the session $3.98 lower (-4.7%) at $80.90 per barrel.

Importantly, mega-cap and tech stocks took part in the rally after some choppiness across the group last week. The information technology sector (+3.4%) finished with the widest gain, supported by a 5.5% advance across components of the PHLX Semiconductor Index. NVIDIA (NVDA 212.45, +7.26, +3.54%) reclaimed its 50-day moving average (207.60), while memory names Western Digital (WDC 653.53, +90.60, +16.10%), Micron (MU 1087.99, +106.38, +10.84%), and Seagate Tech (STX 1018.80, +87.76, +9.43%) were among the top-performing S&P 500 names.

Meta Platforms (META 593.48, +26.50, +4.67%) and Amazon (AMZN 246.10, +7.55, +3.16%) were among the other mega-cap standouts, which helped the communication services (+2.4%) and consumer discretionary (+1.9%) sectors also finish near the top of the leaderboard. The Vanguard Mega Cap Growth ETF finished 2.8% higher.

Though not yet a component of the S&P 500, SpaceX (SPCX 192.50, +31.55, +19.60%) traded sharply higher again in its second trading day, putting its total gain at roughly 40% above its IPO price.

Outside of the mega-cap realm, oil- and rate-sensitive stocks contributed to today's rally amid the pullback in crude prices. DoorDash (DASH 168.09, +17.51, +11.63%) was an S&P 500 standout, while a host of cruise lines and other travel-related names also contributed to the strength in the consumer discretionary sector.

The industrials sector (+1.4%) was another top mover, bolstered by solid performances across airline names and electrical product names, which have become increasingly linked to semiconductor performance.

Meanwhile, the energy sector (-3.6%) faced a sharp retreat amid the oil pullback, while the more defensive-oriented real estate (-0.9%), health care (-0.7%), and consumer staples (-0.5%) sectors also underperformed as growth stocks surged today.

Altogether, it was a relatively quiet session, as a lack of corporate news kept the major averages trading near their opening highs for most of the day. The retreat in oil prices improved sentiment across the market and helped alleviate some inflation and growth concerns, while mega-cap and technology stocks regained their footing after a volatile previous week

U.S. Treasuries started the week on a positive note, though some intraday backtracking left the complex with only a portion of its initial gains. The 2-year note yield settled down two basis points to 4.07%, and the 10-year note yield settled down two basis points to 4.47%.

• Russell 2000:
• S&P Mid Cap 400:
• Nasdaq Composite:
• S&P 500:
• DJIA:

Reviewing today's data:

• June Empire State Manufacturing 5.7 (Briefing.com consensus 12.5); Prior 19.6
• May Industrial Production 0.1% (Briefing.com consensus 0.2%); Prior was revised to 0.9% from 0.7%, May Capacity Utilization 76.2% (Briefing.com consensus 76.2%); Prior 76.1%
  • The key takeaway from the report is that manufacturing output moved sideways in May, reflecting a cooling down after some solid activity in April.
• June NAHB Housing Market 35 (Briefing.com consensus 37); Prior 37

[BRIEFING.COM] Gains across the major averages remain unwavering with just half an hour left in today's session.

While the retreat in oil prices has done little to alter the market's expectations that Wednesday's FOMC meeting will not result in any changes to the Fed funds target rate, expectations for a rate hike by the December FOMC meeting have modestly decreased.

[BRIEFING.COM] The S&P 500 (+1.7%), Nasdaq Composite (+3.0%), and DJIA (+1.2%) are little changed from previous levels as the market enters the final hour of the session.

Crude oil futures settled today's session $3.98 lower (-4.7%) at $80.90 per barrel, adding to the broad enthusiasm across equities today as the market anticipates a memorandum of understanding between the U.S. and Iran to be officially signed on Friday.

[BRIEFING.COM] The S&P 500 (+1.69%) is in second place on Monday afternoon, up about 125 points.

Briefly, S&P 500 constituents Coherent (COHR 412.05, +27.02, +7.02%), Coinbase Global (COIN 171.04, +11.26, +7.05%), and Qnity Electronics (Q 161.31, +10.66, +7.08%) dot the top of the standings. COIN rises amid strength in crypto today, while Q has now rallied +18.7% from the early-June lows about a week ago.

Meanwhile, Fiserv (FISV 47.93, -5.85, -10.88%) is today's worst laggard after CEO Mike Lyons stepped down from his role.

[BRIEFING.COM] The Nasdaq Composite (+2.99%) is up about 774 points this afternoon.

Gold futures settled $112.80 higher (+2.7%) at $4,351.60/oz, after a U.S./Iran peace framework eased concerns about an energy-driven inflation shock, pushing the dollar lower and reducing expectations for additional Federal Reserve rate hikes. Investors also looked ahead to this week's Fed meeting, while ongoing policy uncertainty and expectations for lower real interest rates continued to support demand for the precious metal.

Meanwhile, the U.S. Dollar Index is down about -0.2% to $99.59.

[BRIEFING.COM] The Dow Jones Industrial Average (+1.43%) is in last place on Monday afternoon, albeit higher by more than 730 points.

A look inside the DJIA shows that Boeing (BA 230.40, +11.35, +5.18%), Honeywell (HON 229.77, +9.46, +4.29%), and American Express (AXP 337.82, +12.38, +3.80%) are among today's top gain getters.

Meanwhile, Chevron (CVX 180.80, -6.42, -3.43%) is solidly lower.

The DJIA is now more than +15.2% higher off the late-March 2026 lows.

[BRIEFING.COM] The S&P 500 (+1.8%), Nasdaq Composite (+2.9%), and DJIA (+1.4%) have spent the session in a relatively narrow range with relatively wide gains following a retreat in oil prices.

President Trump announced on Truth Social yesterday that the U.S. and Iran have reached a peace agreement that would include the reopening of the Strait of Hormuz and lifting Iran's naval blockade, with the deal to be signed on Friday in Switzerland. Crude oil is down over 5%, holding around the $80.50 per barrel mark.

Oil-and-rate-sensitive stocks, including airlines, homebuilders, couriers, and other travel-related names, are posting solid gains, with DoorDash (DASH 166.19, +15.61, +10.37%) among the top-performing S&P 500 components today.

Additionally, the market is supported by strong leadership from mega-cap and tech names, which are shaking off some of last week's volatility amid the retreat in oil prices. The information technology (+3.3%), communication services (+2.9%), and consumer discretionary (+2.0%) sectors lead the seven S&P 500 sectors that trade higher as all of the Magnificent Seven cohort hold gains, with five trading more than 2% higher.

Meta Platforms (META 596.17, +29.19, +5.15%) is a particular standout, and the Vanguard Mega Cap Growth ETF is up 2.8%.

Elsewhere in the technology sector, semiconductor names are expanding upon last week's rally, with the PHLX Semiconductor Index up 5.0%. Memory names such as Micron (MU 1073.05, +91.44, +9.32%) and Western Digital (WDC 648.33, +85.40, +15.17%) are among the S&P 500's top-performing components today.

Meanwhile, the energy sector (-3.0%) is a laggard, while more defensive pockets of the market, including the health care (-0.5%), real estate (-0.6%), and consumer staples (-0.2%) sectors underperform as growth stocks surge.

Overall, today's session reflects a renewed appetite for risk as falling oil prices ease concerns about inflation and economic growth. With investors rotating back into mega-cap technology stocks while maintaining participation across much of the broader market, the major averages remain on track for a strong start to the holiday-shortened week.

Reviewing today's data:

• June Empire State Manufacturing 5.7 (Briefing.com consensus 12.5); Prior 19.6
• May Industrial Production 0.1% (Briefing.com consensus 0.2%); Prior was revised to 0.9% from 0.7%, May Capacity Utilization 76.2% (Briefing.com consensus 76.2%); Prior 76.1%
  • The key takeaway from the report is that manufacturing output moved sideways in May, reflecting a cooling down after some solid activity in April.
• June NAHB Housing Market 35 (Briefing.com consensus 37); Prior 37

[BRIEFING.COM] Not much has changed at the index level as the stock market crosses midday.

Action remains relatively stable at the sector level, with the slide in oil prices prompting broad market gains, while some more defensive-oriented sectors incur modest losses.

The consumer staples sector (-0.7%) is one such sector, with Casey's General (CASY 860.64, -34.50, -3.85%) pulling back after its most recent earnings report rocketed it to new all-time highs.

[BRIEFING.COM] The major averages trade in a stable range near session highs at midday.

SpaceX's (SPCX 174.84, +13.89, +8.63%) Bullish momentum is carrying into a second session, with shares up another 7.5% and now 29% above the $135 IPO price, extending an already impressive debut for the largest IPO in market history. The enthusiasm reflects a combination of scarcity value, strong institutional and retail demand, and investor appetite for a unique long-term growth story spanning launch services, broadband, defense, mobile connectivity, and AI infrastructure.

Investors appear to be valuing SPCX less as a traditional aerospace company and more as a platform asset positioned at the intersection of several major growth themes.

The primary risk is valuation. With a market cap above $2.1 trillion, the stock already reflects substantial future success despite remaining unprofitable, including a $4.94 billion net loss in 2025 and a $4.28 billion loss in 1Q26.

[BRIEFING.COM] Stocks are off to a firmly higher start to the holiday-abbreviated week, with the S&P 500 (+1.7%), Nasdaq Composite (+2.6%), and DJIA (+1.3%) holding on to their opening gains just before midday. Crude oil is down $4.25 (-5.0%) to $80.63 per barrel following the announcement of a peace agreement between the U.S. and Iran, set to be signed on Friday.

Stocks are broadly higher, with oil-and rate-sensitive names among the outperformers, while tech and mega-cap names provide solid leadership after a somewhat choppy previous week. The Vanguard Mega Cap Growth ETF is up 2.7%, and the PHLX Semiconductor Index is up 4.5%. As a result, the market-weighted S&P 500 (+1.7%) outperforms the S&P 500 Equal Weighted Index (+0.8%), though it too trades firmly higher amid a solid showing from the broader market.

The Russell 2000 (+0.9%) and S&P Mid Cap 400 (+0.7%) hold similar gains.

Meanwhile, the CBOE Volatility Index is down 7.8% to 16.31, reflecting an improvement in sentiment as the U.S.-Iran war seems to have its most tangible off-ramp yet.

[BRIEFING.COM] The major averages remain little changed from previous levels. 

Roku (ROKU 142.24, -1.42, -0.99%) is trading lower despite Fox Corporation (FOXA 54.90, -10.96, -16.64%) agreeing to acquire the company for $160.00 per share in a cash-and-stock deal, as investors weigh the modest remaining upside to the headline value against deal-spread, regulatory, Fox shareholder approval, and FOXA share-price risk. The bid values ROKU at about $22 billion and follows last week's sale-speculation surge, making the premium meaningful versus ROKU's pre-rumor price but much smaller versus Friday's elevated close.

[BRIEFING.COM] The S&P 500 (+1.5%), Nasdaq Composite (+2.3%), and DJIA (+1.2%) trade in a steady range near their opening highs.

Semiconductor stocks are off to another hot start, with the PHLX Semiconductor index up 4.0%. Micron (MU 1070.17, +88.56, +9.02%) is a top mover after RBC Capital Markets raised its price target on the stock to $1200 from $525.

Memory peers Western Digital (WDC 645.21, +82.28, +14.62%) and Seagate Tech (STX 1015.76, +84.72, +9.10%) trade even higher, and are the best-performing S&P 500 names this morning.

[BRIEFING.COM] The S&P 500 (+1.6%), Nasdaq Composite (+2.6%), and DJIA (+1.1%) are sharply higher this morning, with the DJIA notching a fresh all-time high.

Yesterday's announcement from President Trump that a peace agreement between the U.S. and Iran has been reached has paved the way for broad strength this morning as crude oil slides toward the $80-per-barrel mark.

Mega-cap tech stocks such as Meta Platforms (META 592.42, +25.44, +4.49%) and Amazon (AMZN 246.51, +7.96, +3.34%) are providing solid leadership, pushing the information technology (+2.9%), consumer discretionary (+2.4%), and communication services (+2.2%) sectors to the top of the standings. The Vanguard Mega Cap Growth ETF is up 2.2%.

Elsewhere, the usual cohort of airlines, cruise lines, couriers, and other oil-sensitive stocks outperforms as oil retreats.

At the sector level, weakness is limited to the energy sector (-4.0%), while the health care (-0.7%), consumer staples (-0.7%), and utilities (-0.2%) sectors also underperform.

Just released, the NAHB Housing Market Index contracted to 35 in June (Briefing.com consensus 37), from the prior level of 37.

The stock market remains on track for a sharply higher open, enthused by a retreat in oil prices following announcements that the U.S. and Iran have reached a peace agreement.

Industrial production increased just 0.1% month-over-month in May (Briefing.com consensus: 0.2%) following an upwardly revised 0.9% increase (from 0.7%) in April. The capacity utilization rate was 76.2% (Briefing.com consensus: 76.2%), up from 76.1% in April. Total industrial production was up 1.7% year-over-year. The capacity utilization rate was 3.2 percentage points below its long-run average.

The key takeaway from the report is that manufacturing output moved sideways in May, reflecting a cooling down after some solid activity in April.

The S&P 500 futures currently trade 101 points above fair value.

Equity indices in the Asia-Pacific region had a solid start to the week with Japan's Nikkei (+5.0%) reaching a fresh record while South Korea's Kospi (+5.2%) finished just shy of a new record of its own. China Securities Journal reported that the Chinese government will accelerate IPOs for technology companies. Japanese debt advanced, sending Japan's 10-yr yield back to its 50-day moving average (2.545%) even though the market expects the Bank of Japan to announce a 25-basis point rate hike overnight. The Reserve Bank of Australia will also meet, but a rate change is not expected. NZIER lowered its forecast for New Zealand's 2026 growth to 0.6% from 0.8% while the outlook for 2027 was lowered to 1.6% from 3.0%.

• In economic data:
  • Japan's April Tertiary Industry Activity -10.6 (last 16.0)
  • South Korea's May trade surplus $27.04 bln (expected surplus of $26.95 bln; last surplus of $23.76 bln). May Imports 20.7% yr/yr (expected 20.8%; last 16.7%) and Exports 53.4% (expected 53.2%; last 48.0%)
  • India's May WPI Inflation 9.68% yr/yr (expected 9.10%; last 8.26%). May trade deficit $28.21 bln (last deficit of $28.38 bln)
  • New Zealand's May Electronic Card Sales Retail Sales 1.7% m/m (last -1.2%); 3.3% yr/yr (last 2.0%)
  • Singapore's Q1 Unemployment Rate 2.0% (expected 2.1%; last 2.0%)

---Equity Markets---

• Japan's Nikkei: +5.0%
• Hong Kong's Hang Seng: +0.5%
• China's Shanghai Composite: +1.6%
• India's Sensex: +1.0%
• South Korea's Kospi: +5.2%
• Australia's ASX All Ordinaries: +1.4%

Major European indices are off to a higher start to the week amid optimism surrounding the signing of a U.S.-Iran peace deal in Switzerland, which is being planned for Friday. The market has curtailed its rate hike expectations for the U.K., now pricing in just one rate hike before the end of the year. The U.K. will hold another by-election on Thursday, which could trigger a leadership challenge to Prime Minister Starmer. President Trump said that France has to rescind its tech sales tax or face a 100% tariff on wine imports to the U.S.

• In economic data:
  • Eurozone's April Industrial Production 0.1% m/m (expected 0.2%; last 0.4%); 0.3% yr/yr (last -2.8%)
  • Germany's May WPI -0.6% m/m (expected 0.8%; last 2.0%); 5.9% yr/yr (last 6.3%)
  • Italy's April trade surplus EUR4.293 bln (expected surplus of EUR5.190 bln; last surplus of EUR4.709 bln)
  • Swiss May PPI -0.4% m/m (expected 0.4%; last 0.8%); -1.8% yr/yr (last -2.0%). May SECO Consumer Climate -38, as expected (last -40)

---Equity Markets---

• STOXX Europe 600: +0.7%
• Germany's DAX: +1.5%
• U.K.'s FTSE 100: +0.1%
• France's CAC 40: +1.1%
• Italy's FTSE MIB: +1.1%
• Spain's IBEX 35: +1.5%

The S&P 500 futures currently trade 98 points above fair value.

Just released, the June Empire State Manufacturing Index contracted to 5.7 (Briefing.com consensus 12.5) from the prior reading of 19.6.

Equity futures point to a sharply higher opening this morning after President Trump announced on Sunday that a peace deal between the U.S. and Iran has been reached. President Trump added that the Strait of Hormuz will be reopened while the U.S. naval blockade of Iran will be lifted. The U.S. and Iran are set to sign the agreement this Friday in Switzerland.

Crude oil is currently down $4.55 (-5.4%) to $80.33 per barrel. Oil prices fell during the back half of last week amid optimism of a potential peace agreement, which helped the major averages overcome earlier choppiness and finish with modest gains.

Semiconductor stocks had another great showing last week, though there was considerable volatility across the market's largest tech and magnificent seven names. Mega-cap tech stocks are poised for a strong start, including the market's newest mega-cap name, SpaceX (SPCX 170.00, +9.05, +5.6%), which enters its second day of trading today.

Corporate news flow is on the lighter side, with geopolitical developments driving the early enthusiasm and earnings winding down. This week will also be relatively light on the economic data front, with the May Industrial Production (Briefing.com consensus 0.2%) and Capacity Utilization (Briefing.com consensus 76.2%) the most notable releases on today's calendar.

In corporate news:

• Fox (FOX 57.24, -8.81, -13.4%) will acquire Roku for $160.00 per share in a combination of cash and FOX Class A common stock, valuing Roku at approximately $22 billion in enterprise value (ROKU halted)
• The Justice Department has approved the Paramount Skydance (PSKY 10.85, +0.38, +3.6%) and Warner Bros Discovery (WBD 27.16, +0.18, +0.7%) merger, according to Deadline.
• SpaceX (SPCX 170.00, +9.05, +5.6%) CEO Elon Musk said the company could generate $1 trillion in revenue by 2030, according to Reuters.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region had a solid start to the week with Japan's Nikkei (+5.0%) reaching a fresh record while South Korea's Kospi (+5.2%) finished just shy of a new record of its own. Japan's Nikkei: +5.0%, Hong Kong's Hang Seng: +0.5%, China's Shanghai Composite: +1.6%, India's Sensex: +1.0%, South Korea's Kospi: +5.2%, Australia's ASX All Ordinaries: +1.4%.

In news:

• China Securities Journal reported that the Chinese government will accelerate IPOs for technology companies.
• Japanese debt advanced, sending Japan's 10-yr yield back to its 50-day moving average (2.545%) even though the market expects the Bank of Japan to announce a 25-basis point rate hike overnight.
• The Reserve Bank of Australia will also meet, but a rate change is not expected.
• NZIER lowered its forecast for New Zealand's 2026 growth to 0.6% from 0.8% while the outlook for 2027 was lowered to 1.6% from 3.0%.

In economic data:

• Japan's April Tertiary Industry Activity -10.6 (last 16.0)
• South Korea's May trade surplus $27.04 bln (expected surplus of $26.95 bln; last surplus of $23.76 bln). May Imports 20.7% yr/yr (expected 20.8%; last 16.7%) and Exports 53.4% (expected 53.2%; last 48.0%)
• India's May WPI Inflation 9.68% yr/yr (expected 9.10%; last 8.26%). May trade deficit $28.21 bln (last deficit of $28.38 bln)
• New Zealand's May Electronic Card Sales Retail Sales 1.7% m/m (last -1.2%); 3.3% yr/yr (last 2.0%)
• Singapore's Q1 Unemployment Rate 2.0% (expected 2.1%; last 2.0%)

Major European indices are off to a higher start to the week amid optimism surrounding the signing of a U.S.-Iran peace deal in Switzerland, which is being planned for Friday. STOXX Europe 600: +0.7%, Germany's DAX: +1.4%, U.K.'s FTSE 100: +0.1%, France's CAC 40: +1.2%, Italy's FTSE MIB: +1.0%, Spain's IBEX 35: +1.6%.

In news:

• The market has curtailed its rate hike expectations for the U.K., now pricing in just one rate hike before the end of the year.
• The U.K. will hold another by-election on Thursday, which could trigger a leadership challenge to Prime Minister Starmer.
• President Trump said that France has to rescind its tech sales tax or face a 100% tariff on wine imports to the U.S.

In economic data:

• Eurozone's April Industrial Production 0.1% m/m (expected 0.2%; last 0.4%); 0.3% yr/yr (last -2.8%)
• Germany's May WPI -0.6% m/m (expected 0.8%; last 2.0%); 5.9% yr/yr (last 6.3%)
• Italy's April trade surplus EUR4.293 bln (expected surplus of EUR5.190 bln; last surplus of EUR4.709 bln)
• Swiss May PPI -0.4% m/m (expected 0.4%; last 0.8%); -1.8% yr/yr (last -2.0%). May SECO Consumer Climate -38, as expected (last -40)

[BRIEFING.COM] The stock market ended a bumpy week on a higher note, with falling oil prices contributing to broad market gains that helped the S&P 500 (+0.5%), Nasdaq Composite (+0.3%), and DJIA (+0.7%) finish higher for the week.

Today's session included arguably the most anticipated market event of the week: the SpaceX (SPCX 160.95, +25.95, +19.22%) IPO. The stock got off to a solid start, with the 555.56 million share offering pricing at $135, opening at $150 for an 11% opening premium, and then pushing higher to trade roughly 20% above the IPO price.

There was some volatility across other mega-cap stocks following the debut of SpaceX, with some analysts positing that investors may be taking profits across the group as a source of funds for SpaceX's debut. However, it is also worth noting that the group is coming off a solid gain in yesterday's session.

Amazon (AMZN 238.55, -2.96, -1.23%) was a laggard, though Tesla (TSLA 406.43, +7.28, +1.82%) reversed an earlier loss, which helped the consumer discretionary sector (flat) reclaim its flatline late in the session. The Vanguard Mega Cap Growth ETF (+0.2%) finished little changed.

The information technology sector also faced some volatility across its largest components, but was supported by another solid showing from its semiconductor components today. Advanced Micro Devices (AMD 511.57, +23.12, +4.73%) was a chipmaker standout after Citigroup upgraded the stock to Buy from Neutral with a $575 target.

The PHLX Semiconductor Index added 1.5% to what was already a solid week.

Elsewhere in the sector, Adobe (ADBE 204.02, -14.78, -6.76%) lagged after topping earnings expectations as the strategic pivot toward freemium user acquisition and AI engagement, along with a CFO departure, weighed on the stock.

Meanwhile, stocks benefitted from another strong showing across the broader market as oil prices retreated again today. Crude oil futures settled today's session $2.93 lower (-3.3%) at $84.88 per barrel amid reports that the U.S. and Iran are nearing a peace agreement that could come into effect by next week.

Similar to yesterday's action, the materials sector (+1.8%) finished with the widest gain today, with chemical names Mosaic (MOS 22.69, +1.60, +7.59%) and Albemarle (ALB 170.42, +11.36, +7.14%) finishing as the top-performing S&P 500 names.

The financials (+1.4%), utilities (+1.1%), and real estate (+1.0%) continued this week's broadening out trend with solid gains, and only the health care sector (-0.2%) finished lower.

Outside of the S&P 500, the Russell 2000 (+0.8%) and S&P Mid Cap 400 (+0.7%) also notched solid gains.

Overall, the week ended on an encouraging note, with strength extending well beyond the technology sector as falling oil prices and easing geopolitical concerns supported risk appetite. The combination of a successful SpaceX debut, continued semiconductor leadership, and improving participation across cyclical sectors suggests investors remain willing to look through near-term volatility, particularly if developments on the U.S.-Iran front continue to move in a constructive direction.

U.S. Treasuries ended the week on a modestly lower note with the long bond dipping from its June high, though the complex remained in positive territory for the week. The 2-year note yield settled up two basis points to 4.09% (-7 basis points this week), and the 10-year note yield settled up two basis points to 4.49% (-5 basis points this week).

• Russell 2000: +18.6% YTD
• S&P Mid Cap 400: +14.9% YTD
• Nasdaq Composite: +11.4% YTD
• S&P 500: +8.6% YTD
• DJIA: +6.5% YTD

Reviewing today's data:

• June University of Michigan Consumer Sentiment - Prelim 48.9 (Briefing.com consensus 46.2); Prior 44.8
  
  • The key takeaway from the report is that the improved readings revolved around the early-month easing in gasoline prices, which was a relief factor felt by consumers across age, education, and political party. Still, there were reported concerns about higher inflation remaining stubborn.