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Trending News:Women’s T20 World Cup final: Best moments of Nat Sciver-Brunt’s fifty to keep England hopes aliveIranian foreign minister meets with Hamas, Hezbollah, other terrorist allies during Ali Khamenei funeral: reportNew Dental Robot Attaches to Patient’s Teeth for Drilling6 Ways Chic French Women Wear A Summer DressSecretary Burgum defends cost of Reflecting Pool repairs: ‘It’s going to be a small number’Data centres are a crucial test of US industrial resolveU.S. drivers choosing regular gas over premium at the pumpsFeature: Nintendo Life eShop Selects (June 2026)It’s Official: United Airlines Flights Return To This City After 2-Year Hiatus [Map]Universal’s Latest ‘Minions’ Delivers $64 Million in Film DebutI’ve Tested Hundreds of Phones in 15 Years. These Are the Weirdest I’ve SeenWI vs SL 2026, WI vs SL 2nd Test Match Report, July 03 – 07, 2026Overdose calls to paramedics on the rise in several Ontario cities, CBC analysis shows25 dead in ongoing heat wave as storms bring flood, wind threats to East CoastExhausted by Iran War, Tehran Transforms for Khamenei’s FuneralShooting at July Fourth cookout near Coney Island beach leaves 8 wounded, including 4 kidsNCAA president says he hopes to “dramatically limit” prop bettingThe complicated history of Keurig and K-CupsSeen on Kendall Jenner: The Row’s Summer 2026 CollectionSpain vs. Portugal prediction, odds, line, time: 2026 World Cup Round of 16 picksLeBlanc says Canada seeking clarity after U.S. opts for annual CUSMA reviewSunday assorted linksRust’s Common Ground update adds terrifyingly realistic apartment and shop renting, forcing you to feed capricious landlords daily scrapThe US’ 10 Busiest Airports: Shocking Winners & Losers For Summer 2026 FlightsCape Verde celebrates team’s return after historic World Cup | World Cup 2026How I Cleaned Up the Thousands of Photos and Videos I Had Scattered Across the InternetRate hike readjustment and AI hardware momentum: What to watch this weekWhite supremacists marching in Washington just ‘messy’ democracy, says Trump officialHow middle-aged and divorced people go about making friendsWhere to preorder Grand Theft Auto VIAfter career-worst IPL season, Jasprit Bumrah begins road to redemption ahead of England ODI seriesIt must be bad for Nige and his finances if it’s Honest Bob Jenrick to the rescue | John CraceOut-of-control wildfire forces evacuation in B.C.’s Fraser ValleyMinister Sidhu speaks with Philippines’ Secretary of Trade and IndustryHasbro should stop looking for a Baldur’s Gate 4 studio and take a leaf out of Larian’s book by trying something newMark Zuckerberg takes business calls on a jet ski wearing his $800 Meta glasses—and insists ‘the other person could not tell’LeBlanc says Canada seeking clarity after U.S. opts for annual CUSMA review – NationalThe Shoes Chic Girls Are Wearing With Capri Sweats in 2026Why Every Hot Dog I Make From Now On Is Coming Out of the Air FryerDenver airport to add underground walkways between concoursesThousand welcome home Cape Verde footballers after stunning World Cup runHormuz tanker trafficking rebounding a day after unexplained U-turnsStatement by the International Coalition for the Return of Ukrainian Children on the unlawful deportation and forced transfer of Ukrainian children by the Russian FederationSuper League: Wakefield Trinity 48-6 Castleford Tigers – nine-try Trinity boost top-four hopes8 Wounded in Coney Island Shooting on Fourth of JulyThe Sourdough Sidekick automates the boring bit of bakingLeBlanc says Canada seeking clarity after U.S. opts for annual CUSMA reviewSaskatoon World Cup watch party draws thousands for Canada’s historic gameEpic Games settles a court case against former contractor accused of leaking Fortnite collaborationsWhat will FOMC minutes reveal about Warsh’s debut at the Fed?LeBlanc says Canada seeking clarity after U.S. opts for annual CUSMA reviewOPEC+ plans quota increase as Middle East tensions ease5 desk gadgets that can make your workday betterWhat NBA execs are buzzing about after a wild week of free agencyHow This Aircraft Hit 100 Speed Records In The Same Time It Took To Deliver 100 JetsChina’s Fashion Industry Enters the AI Era, From a Search Economy to Machine-Led DiscoveryThe Strait of Hormuz has reopened — why that might be a problem for the oil market: Chart of the DayAmerica 250: David Muir climbs up to the Statue of Liberty’s torchFamilies of children killed in Iran school bombing join leader’s funeral in TehranCanada and Ukraine call on Russia to return Ukrainian childrenFarage faces ethics investigation as Reform UK hits election setbacksCrimson Desert’s latest update makes it worth it to play as Damiane and OongkaNotebookLM Alternatives: Which Similar AI Tools Are Worth Your Time?Drivers Shun Premium Gas in Favor of Regular as Prices BiteWoman in her 30s killed in Mississauga hit-and-runWomen’s T20 Blast: Hampshire Hawks back top after win as Surrey lose to EssexWhat We Saw at Ayatollah Khamenei’s FuneralG7 Rapid Response Mechanism (RRM) Statement on Hong Kong Arrest WarrantsTrump and his political prerogatives takes centre stage at weather-delayed July 4th festivitiesFire up the grill for a yearly ritual: Communing over BBQ skills (or lack thereof)Infuriating Google commercial imagines the founding fathers embracing AIThe Boeing 787-9 Route So Fragile That A 30-Minute Detour Forced A Fuel Stop30 Top-Tier Zara, J.Crew, and Aritzia Finds for SummerFive things to watch for in the Canadian business world in the coming weekMarvel Rivals Swimsuit Skin Has Players Talking About Captain AmericaMillions attend funeral prayers for Iran’s Khamenei and family | Conflict News1 killed in attack on Crimea as Putin and Zelenskyy hold separate Trump calls – NationalVitality Blast Women 2026, DUR-W vs BLZ-W 41st Match Match Report, July 05, 2026What is Bending Spoons? The little-known AOL and Vimeo owner that’s now publicBackgrounder: Canada’s International Assistance to the West Bank and GazaCanada has joined Eurovision — and I couldn’t be happier. Here’s what we’re in forHow Nissan is addressing affordability concerns in the US: CEO explainsBill Archer, Influential Texas Congressman, Is Dead at 98These Popular Smartphones Are In Their Last Year Of Software SupportNancy Pelosi’s husband could face charge after hitting parked car in California | CaliforniaIran’s top officials attend prayer for the late Supreme Leader Ayatollah Ali Khamenei – NationalThe best credit cards to use for booking Airbnb staysHarry Kane odds, picks, player props, predictions: Best bets for England vs. Mexico in 2026 World CupIt’s Official, Shantae’s Seventh Game Will Arrive In 2027These Are the 6 Essentials Petite Women Should Add to Their Holiday Packing List This Summer 2026Minister Anand to travel to Romania, Türkiye and Kingdom of Saudi ArabiaOil, Gas Tankers Cross Hormuz Via Oman-Side Route After U-TurnsInuk man who nearly bludgeoned uncle to death gets 33 monthsLost Power During a Winter Storm? You Can Still Save the Food in Your FridgeMillions of Iranians Gather for Supreme Leader’s Funeral Nigeria says two nationals killed in South Africa amid rise of anti-migrant attacksCarney to travel to Turkey, where NATO allies will focus on managing Trump – NationalWATCH: Taylor Swift and Travis Kelce tie the knot at Madison Square GardenVizio accidentally made the best dumb TV on the marketInside Saskatchewan’s Cigar Lake mine, a ’boutique’ operation with abundant uranium
Coming off a holiday-shortened week filled with tons of labor market data and a surprising jobs report, investors are greeted with a relatively quiet stretch in the week ahead.
Markets will pick things up after a mixed Thursday that saw an unsure market with the S&P 500 (^GSPC) closing flat, the Nasdaq (^IXIC) falling 0.8%, and the Dow (^DJI) gaining 1.1%.
Monday is likely to be the biggest day to watch on the economic calendar, with a host of index readings from S&P Global and the Institute of Supply Management set to give investors a read on the state of the US service economy.
That data comes after the monthly private payrolls release from data provider ADP showed that the services side of the economy added the dominant count of jobs in June.
In the corporate world, reports from PepsiCo (PEP) on Thursday and Delta Air Lines (DAL) on Friday should highlight the week. PepsiCo’s results should give investors some insight into the state of the American consumer, while Delta is set to provide one more read on the lasting effects of the war in Iran and the energy crisis it kicked off.
Jobs report complicates rate-hike bets
Heading into Thursday, markets were increasingly convinced that a rate hike within the year by Kevin Warsh’s Federal Reserve was all but assured. Then came the June jobs report.
The US economy added 57,000 jobs last month, roughly half the jobs economists had expected. At the same time, May’s massive 172,000 addition was revised down to 129,000, and April’s tally was lowered to 148,000 from 179,000. Not exactly the shining example of the healthy labor market Warsh has been counting on.
While the market continued to fully price in one Fed rate hike this year following the report, markets pulled back slightly on their conviction. On Thursday morning, traders assigned roughly 75% odds that rates would end the year higher than they are now, per CME data. On Wednesday, those odds stood at roughly 84%.
In his first post-Fed decision press conference, Chairman Kevin Warsh focused heavily on inflation and his goal to get it back to the Fed’s 2% target rate, which has remained elusive amid the energy shock of the Iran war.
While June’s employment data was weaker, many economists believe inflation and unemployment may not be particularly linked at the moment, keeping the pressure firmly on price data — something to keep in mind as earnings season approaches.
Job seekers meet with recruiters during the HIRE360 Diversity Hiring Expo & Mega Career Expo at the Carson Event Center on June 30, 2026, in Carson, California. (Justin Sullivan/Getty Images) ·Justin Sullivan via Getty Images
The first-half AI story was all about hardware
The tech trade through the first half of 2026 was, in a word, imbalanced.
The iShares Expanded tech and software ETF (IGV), which tracks a variety of names in the tech sector, is down 12% on the year. Even the Magnificent Seven (MAGS), once the bastions of Big Tech, have, as a group, lost investors 2% over the past six months.
Chip stocks, on the other hand, have had a blowout six months driven by euphoria around memory and storage sales and the need for traditional processors to power the AI build-out.
Micron (MU) was the poster child for explosive growth in the first two quarters of the year, with shares rising an astonishing 308%. Intel (INTC), which is continuing its turnaround effort, rose a similarly impressive 280%, while AMD (AMD) rocketed 173% higher in the period. Take it all together, and the Philadelphia Semiconductor Index (^SOX), which tracks the chip trade, has returned investors roughly 75% since Jan. 1.
That trend’s not likely to go anywhere, according to Bank of America tech analyst Vivek Arya, as the build-out of the physical backbone behind AI continues to rush forward. It’s one more reminder that while AI might be the brainchild of software-minded Silicon Valley, the AI economy is physical.
“We reiterate our thesis of the AI industry moving to addressing structural and physical (chips, power) constraints, from having to defend return-on-investment before,” Arya wrote to clients. “Memory chip shortages and price inflation remain the critical moving pieces.”
People view computer memory and data storage products from American multinational semiconductor firm MICRON TECHNOLOGY, at the COMPUTEX TAIPEI trade show, in Taipei, Taiwan, on June 2, 2026. (Daniel Ceng/Anadolu via Getty Images) ·Anadolu via Getty Images
Economic and earnings calendar
Monday
Economic data: S&P Global US services PMI, June final reading (51.3 previously); S&P Global US composite PMI, June final reading (52.2 previously); ISM services index, June (54.2 expected, 54.5 previously); ISM services prices paid, June (70 expected, 71.3 previously); ISM services new orders, June (57.5 expected, 57.3 previously); ISM services employment, June (48.1 expected, 47.9 previously)
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