The S&P 500 Index ($SPX) (SPY) is up +0.73% today; The Dow Jones Industrial Average ($DOWI) (DIA) is up +0.64%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.08%. September E-mini S&P futures (ESU26) are up +0.76%, and September E-mini Nasdaq futures (NQ26) are up +1.10%.
Stock indices are rising today due to strength in Magnificent Seven Technology shares. Additionally, stocks are getting support today after the US and Iran agreed to step back from re-escalation of hostilities and stop attacking each other before resuming peace talks over the Strait of Hormuz and other issues. President Trump said today that talks would resume in Doha on Tuesday.
Join 200K+ Subscribers:
Find out why the Midday Barchart Brief newsletter is a must-read for thousands of people every day.
WTI crude oil (CLQ26) is up more than +1% today as tensions rise in the Strait of Hormuz. Late Friday, the US struck several Iranian military installations in response to Iran’s attack on a container ship in the strait on Thursday. The United States again attacked Iran on Saturday after it attacked a tanker carrying Qatari oil and launched drone and missile attacks on American bases in Bahrain and Kuwait. However, crude oil prices fell from their best levels late Sunday after the US and Iran agreed to stop attacking each other and allow ships to move freely through the Strait of Hormuz.
Markets are discounting a +25% chance of a +29bp rate hike at the next FOMC meeting on July 28-29.
Foreign stock markets are high today. The Euro Stoxx 50 is up +0.05%. China’s Shanghai Composite bounced from 2-week low and closed +1.16% higher. Japan’s Nikkei-225 stock average recovered from a 2-week low and closed +0.15% higher.
interest rates
September 10-year T-notes (ZNU6) are down -2 ticks today, and the 10-year T-note yield is up +0.8bp to 4.376%. T-notes are under pressure today amid +1% rise in WTI crude oil prices, raising inflation expectations. Also, today’s strength in equities has dampened safe-haven demand for T-notes.
European government bond yields are mixed today. The 10-year German Bund yield is up +1.4bp to 2.865%. The 10-year UK gilt yield declined by -0.1bp to 4.730%.
The Eurozone June economic confidence indicator rose +1.3 to 95.0, beating expectations of 94.3.
Eurozone May M3 money supply increased +3.2% year-on-year, stronger than expected +2.7% year-on-year.
The swaps are discounting a +25% probability of a +7bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Magnificent Seven Technology stocks are higher today, helping lift the overall market. Amazon.com (AMZN) is the leader in the Dow Jones Industrials with a gain of more than 4%. Additionally, Tesla (TSLA) is up more than +4%, and Alphabet (GOOGL) and Meta Platform (META) are up more than +3%. Also, Nvidia (NVDA) is up +0.87%, and Microsoft (MSFT) is up +0.40%. Reversing the trend, Apple (AAPL) is down -0.56%.
Software stocks are rising today, providing support to the overall market. Palantir Technologies (PLTR) and Datadog (DDOG) are up more than +4%, and Atlassian Corp. (TEAM) and ServiceNow (NOW) are up more than +3%. Additionally, Adobe Systems (ADBE) is up more than +2%, and Intuit (INTU), Autodesk (ADSK), Workday (WDAY), and Salesforce (CRM) are up more than +1%.
Weakness in chipmakers and AI infrastructure stocks is limiting upside in the overall market today. SanDisk (SNDK) is among the losers in the Nasdaq 100, down more than -7%. Additionally, Micron Technology (MU) is down more than -6%, and Intel (INTC) is down more than 3%. Additionally, ARM Holdings PLC (ARM) and Marvell Technology (MRVL) are down more than -2%, and Advanced Micro Devices (AMD), Microchip Technology (MCHP), and NXP Semiconductors NV (NXPI) are down more than -1%.
Iridium Communications (IRDM) is up more than +21% after Rocket Lab agreed to acquire the company for approximately $8 billion, or $54 per share.
Roblox (RBLX) is up more than +15% after Arete Research Services LLP upgraded the stock to buy from neutral with a price target of $95.
Charter Communications ( CHTR ) is among the gainers in the S&P 500, up more than +13% after Bloomberg reported the company has discussed a partnership with SpaceX on a consumer phone offering.
Exxon Enterprise (Exxon) is up more than +12% among the gainers on the Nasdaq 100 after a CNBC report said President Trump bought $5 million of stock two weeks before the company signed a $220 million contract with Immigration and Customs Enforcement (ICE).
Comcast Corp. (CMCSA) is up more than +8% after announcing plans to separate its media businesses from its cable-TV and Internet operations. However, the news weighed on other telecom stocks, with T-Mobile US (TMUS) and AT&T (T) falling by more than -6% each.
The price of Viridian Therapeutics (VRDN) has surged more than +7% after the FDA approved the company’s drug to treat an inflammatory disorder affecting the tissues around the eyes.
Method Electronics (MEI) is up more than +5% after Barrington Research upgraded the stock to Outperform from Market Perform and set a price target of $25.
Inio NV (INIO) is up more than +3% after BNP Paribas initiated coverage on the stock with an Outperform recommendation and a price target of $48.
Verizon Communications (VZ) is among the losers in the S&P 500, down more than -7% after it said it expected to post a loss of about $700 million to $800 million in the second quarter after striking a deal with BT Group PLC to form a joint venture for its international businesses.
Martin Marietta Materials (MLM) is down more than -6% after agreeing to combine with Loyst North America in a transaction valued at $13.5 billion.
Biohaven Ltd. (BHVN) is down more than -4% after Bank of America Global Research downgraded the stock from Neutral to Underperform with a price target of $11.
Progressive Corp (PGR) fell more than -1% after Wells Fargo Securities downgraded the stock from Equal Weight to Underweight with a price target of $205.
Doximity (DOCS) is down about -1% after Bank of America Global Research double-downgraded the stock to Underperform from Buy with a $20 price target.
Earnings Report(6/29/2026)
AeroVironment Inc (AVAV), America’s Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Concentrix Corp (CNXC), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), RichTech Robotics Inc (RR), Whitestone REIT (WSR).
On the date of publication, Rich Asplund did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Reflect the views of.
