News Bulletin
Monday, June 29, 2026
Evening Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Monday, June 29, 2026
10:30	Dallas Fed Mfg Business Index (Jun)	0.00		0.40
11:30	3-Month Bill Auction	3.74%		3.70%
11:30	6-Month Bill Auction	3.84%		3.84%

Indices

	CLOSE	50 DMA	200 DMA
DJIA	52,182.08	50,365.55	48,344.14
NASDAQ	25,820.14	25,812.96	23,644.79
S&P 500	7,440.43	7,378.83	6,934.05

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
AeroVironmentAVAV:US		-1.57		-564.66M	$5.94B	PM

Market News:

U.S. stocks on Monday kicked-off a holiday-shortened week with solid gains, helped by a rebound in communication services and technology after those sectors posted steep losses last week.

While tech remained in the spotlight, the geopolitical risk premium was also back in focus after fresh fighting between the U.S. and Iran over the weekend boosted oil prices. Tensions calmed a little after President Donald Trump said Iran had requested a meeting with Washington in Qatar.

Market participants this week will be eyeing Thursday’s May jobs report for further cues on monetary policy. Markets will be shut on Friday for the July 4 holiday weekend.

The benchmark S&P 500 index advanced 1.2% to end at 7,439.26 points, the tech-heavy NASDAQ Composite surged 2.1% to close at 25,820.14 points, and the blue-chip Dow Jones Industrial Average climbed 0.6% to notch a record close at 52,182.08 points.

"Today looks like a rebound, but it’s not broad-based. Tech and communication services are bouncing from an oversold pullback after falling more than 5% last week, but underneath the surface the action is mixed, with decliners slightly outpacing advancers and about half the sectors still down," Keith Lerner, chief investment officer and chief market strategist at Truist, told Investing.com.

"Oil is up slightly, but markets are largely looking past it and not expecting geopolitical tensions to return to levels seen a few months ago. In a holiday-shortened week, investors are waiting for direction from Thursday’s jobs report," he added.

Communication services, tech bounce back

The S&P 500 Technology and Communication Services sectors slid more than 5% and 6%, respectively, last week, as the high-flying artificial intelligence trade got a reality check following developments related to the memory market. Investors rotated into defensive names such as Healthcare amid concerns over stretched tech valuations and slowing momentum in AI-related names.

Samsung Electronics, SK Hynix, and Micron Technology grabbed much of the headlines last week, amid a prolonged supply crunch for memory chips as demand for AI processes continue to explode. Prices for standard and enterprise Dynamic Random-Access Memory (DRAM) and High Bandwidth Memory (HBM) products have shot up, especially for the latter which are used in AI hardware, graphics processing units, and supercomputers.

A South Korean report that SK Hynix was reallocating resources and shifting focus back to the mainstream DRAM market triggered last week’s big sell-off in tech. Later in the week, the mood improved after SK Hynix unveiled plans for a $29.4 billion Nasdaq listing and Micron delivered stellar quarterly results and issued strong guidance, with management indicating that memory supply constraints showed little signs of easing.

But the week ended on a glum note as Apple slid on Thursday after announcing price increases for its MacBooks, iPads, and home devices in order to offset rising costs from the memory chip crunch. On Friday, the New York Times reported that Chat-GPT developer OpenAI was considering postponing its highly-anticipated initial public offering (IPO) to 2027.

"Staying underweight technology stocks is the name of the game for right now as there may very well be a leadership transition going on within the sector. Mag 7 stocks have had a disappointing run so far this year, and the market is trying to figure out its next leadership group," David Laut, chief investment officer at Kerux Financial, said.

"Diversification continues to be a great strategy this year as small cap, international, and value have all provided asymmetric returns to technology. The same catalysts remain throughout the rest of the year: oil prices, the AI story as well as AI IPOs, and interest rates," he added.

Data from Deutsche Bank on Friday showed that technology-linked exchange-traded funds and mutual funds suffered record outflows of $9.3 billion last week, with aggregate positioning slipping to slightly below neutral.

Trump says Iran requested meeting in Qatar

Turning to the Middle East conflict, a big slide in oil prices last week to pre-war levels along with improving shipping activity in the critical Strait of Hormuz effectively removed the geopolitical risk premium from markets, prompting traders to shift their focus squarely back to the AI trade

However, the U.S. and Iran exchanged fresh strikes on Friday and over the weekend, in what was the biggest test of diplomacy between the warring sides since an interim memorandum of understanding (MoU) was inked on June 17.

Tehran last week reportedly struck a Singapore-flagged cargo ship named the Ever Lovely for not following Iranian-monitored routes of transit through the Strait of Hormuz. President Trump on Friday called the attack a "foolish violation" of the U.S.-Iran ceasefire implemented by the MoU. The U.S. on Friday retaliated by striking Iranian missile and drone storage locations and coastal radar sites, according to Central Command (CENTCOM).

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