Key Takeaways
- 1st Full Trading Week of 2H26 Starts Modestly
- Final S&P and ISM Services PMI Due After Open
- Last Week Was Jobs, Next Week Is Inflation
Monday, July 6th, 2026
We start a new trading week with the Dow giving back slightly from its record-setting close at the end of last week. All other main indexes — the S&P 500, the Nasdaq and the small-cap Russell 2000 — are slightly lower at this hour. We continue to ride major gains from the start of the year, roughly +10-20%, in the early innings of the second half of calendar 2026.
Envoys continue to toil in Doha, attempting to reach some sort of compromise that will keep the Strait of Hormuz open to oil tanker traffic. Hostilities continue in the region, however, though are muted enough not to warrant major global news coverage. Oil prices remain back at pre-war levels — even if gas stations are keeping prices elevated somewhat — with WTI spot oil prices down around $68 per barrel (/bbl) and Brent crude below $72/bbl.
What to Expect from the Stock Market Today
We’ll hear the final shoe drop on Services PMI, both the final S&P print and ISM Services, and both for June. We expect they will remain safely above the 50 threshold, which determines profit from loss. Last time around, the S&P final Services PMI came in at 51.3, the ISM Services is expected to dip a couple basis points from 54.5 reported initially.
Here’s What to Expect for the Full Trading Week
Following four-sessions of trading ending ahead of Independence Day last week, we enter a more typically quiet summer trading this morning through Friday. We’re between Jobs Week and next week’s inflation numbers from CPI and PPI. There are some key data pieces worth paying attention to, but not so headline-grabbing.
Among these, May reports of U.S. Trade Balance come out on Tuesday, and Wholesale Inventories and Consumer Credit on Wednesday. Existing Home Sales for June are due Thursday, along with normal Weekly Jobless Claims that morning. We’ll also see the minutes released from the latest Fed meeting on interest rates — the first with Fed Chair Kevin Warsh at the helm. Warsh is re-setting the table in terms of how to generate results for fulfilling employment and inflation imperatives; perhaps we’ll get a closer look Wednesday afternoon.
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Pre-Markets Muted Ahead of (Expected) Quiet Week
Key Takeaways
Monday, July 6th, 2026
We start a new trading week with the Dow giving back slightly from its record-setting close at the end of last week. All other main indexes — the S&P 500, the Nasdaq and the small-cap Russell 2000 — are slightly lower at this hour. We continue to ride major gains from the start of the year, roughly +10-20%, in the early innings of the second half of calendar 2026.
Envoys continue to toil in Doha, attempting to reach some sort of compromise that will keep the Strait of Hormuz open to oil tanker traffic. Hostilities continue in the region, however, though are muted enough not to warrant major global news coverage. Oil prices remain back at pre-war levels — even if gas stations are keeping prices elevated somewhat — with WTI spot oil prices down around $68 per barrel (/bbl) and Brent crude below $72/bbl.
What to Expect from the Stock Market Today
We’ll hear the final shoe drop on Services PMI, both the final S&P print and ISM Services, and both for June. We expect they will remain safely above the 50 threshold, which determines profit from loss. Last time around, the S&P final Services PMI came in at 51.3, the ISM Services is expected to dip a couple basis points from 54.5 reported initially.
Here’s What to Expect for the Full Trading Week
Following four-sessions of trading ending ahead of Independence Day last week, we enter a more typically quiet summer trading this morning through Friday. We’re between Jobs Week and next week’s inflation numbers from CPI and PPI. There are some key data pieces worth paying attention to, but not so headline-grabbing.
Among these, May reports of U.S. Trade Balance come out on Tuesday, and Wholesale Inventories and Consumer Credit on Wednesday. Existing Home Sales for June are due Thursday, along with normal Weekly Jobless Claims that morning. We’ll also see the minutes released from the latest Fed meeting on interest rates — the first with Fed Chair Kevin Warsh at the helm. Warsh is re-setting the table in terms of how to generate results for fulfilling employment and inflation imperatives; perhaps we’ll get a closer look Wednesday afternoon.
Questions or comments about this article and/or author? Click here>>