Merchants work on the ground of the New York Inventory Alternate throughout morning buying and selling on July 01, 2026 in New York Metropolis.
Michael M. Santiago | Getty Pictures
The S&P 500 and Nasdaq Composite maintained their constructive momentum on Monday following a powerful week on Wall Avenue.
The broad market index gained 0.4%, whereas the tech-heavy Nasdaq superior 0.8% as markets began a brand new buying and selling week following Friday’s U.S. Independence Day vacation. The 30-stock Dow final traded down 57 factors, or 0.1%, after earlier surpassing 53,000 for the primary time ever.
Tech shares rose broadly. The State Avenue Expertise Choose Sector SPDR ETF (XLK) climbed greater than 1%, led by an 8% climb in Western Digital and a 6% bounce in Teradyne. Marvell Expertise and Oracle additionally gained greater than 3% and greater than 2%, respectively.
The Dow climbed practically 2% final week, placing it inside putting distance of 53,000, a stage it has by no means reached. The S&P 500 and Nasdaq Composite additionally posted sharp positive aspects final week, advancing 1.8% and a couple of.1%, respectively.
These positive aspects got here at the same time as semiconductors — the power behind most of the market’s positive aspects this 12 months — faltered final week, with buyers paring publicity to chipmakers and rotating into different sectors. The VanEck Semiconductor ETF (SMH) shed 3.2%, marking its second shedding week in a row.
“The broadening in sector rotation is an enormous constructive, with Financials, Healthcare, and Industrials all closing at new weekly all-time highs this week and greater than offsetting the consolidation in Semis,” wrote Mark Newton, head of technical technique at Fundstrat. “Whereas the Semi decline is a short-term headwind that favors proudly owning different sectors whereas it settles, it has not dented the broader indices.”
Newton expects the S&P 500 to succeed in 8,000 by mid-August. The benchmark closed final week at 7,483.24, about 7% beneath the 8,000 mark.
Merchants this week will flip their eyes to the Federal Reserve, with the minutes of the June assembly — the primary led by new Chairman Kevin Warsh — due Wednesday.
European inventory markets had been muted, with the pan-continental Stoxx 600 slipping 0.2%. Asia-Pacific ended blended on Monday. Japan’s Nikkei 225 closed little modified, whereas the broader Topix gained 0.92%. South Korea’s Kospi misplaced 0.46% and the small-cap Kosdaq tumbled 2.46%. Australia’s S&P/ASX 200 fell 0.15% to shut at 8,831.00. China’s CSI 300 ended flat at 4,842, whereas Hong Kong’s Dangle Seng was final buying and selling 0.81% larger.
