June 29, 2026
Daily Market Report

Market Review: June 29, 2026

Closing Recap

Monday, June 29, 2026

Index

Up/Down

%

Last

DJ Industrials

305.97

0.59%

52,182.08

S&P 500

86.23

1.17%

7,440.25

Nasdaq

522.53

2.07%

25,820.14

Russell 2000

-4.01

0.13%

3,006.07

 

 

 

 

 

 

 

 

 

US equity futures gained overnight as investors perhaps have begun to look past recent rate-hike fears and tech multiples have reset, even if just a little. The back-and-forth between the US and Iran resumed over the weekend with some strikes from each, but both sides still intend to meet this week with one headline indicating a meeting could come as early as tomorrow. 

 

Despite the early gains in equities, today’s Fear & Greed Index continued to register Fear at 26/100 versus last week’s 31 (Fear), but well off last month’s 59 (Greed). By mid-morning, market breadth favored advancers by 10:9 as small caps underperformed in reversal from last week with IWM (-0.94%) versus SPY (+1.14%) and QQQ (+0.98%). SPY breadth favored decliners by 6:5, while QQQ breadth favored advancers by 5:3. From a sector view, Consumer Discretionary (+2.67%), Communications (+2.00%) and Financials (+0.78%) were outperformers among S&P sector ETFs, while Utilities (-0.78%), Real Estate (-1.15%) and Materials (-2.04%) were primary underperformers with 6 sectors gaining versus 5 declining. Mega caps were broadly positive early and supported index gains.

 

Midday headlines out of Iran disputing face-to-face meetings did not deter stocks as equities continued higher into early afternoon. Heading into the final hour of trading, stocks held solid gains with the exception of small caps. Mega caps remained broadly higher, with AAPL and MSFT the notable outliers in the red.

 

While today was quiet on the economic front, tomorrow gets a bit more interesting with CaseShiller, Chicago PMI, Consumer Confidence and JOLTS data so investors will have more to digest as they contemplate the Fed’s next move. 

 

 

 

 

Economic Data

  • Dallas Fed Manufacturing Index of Business Activity 0.0 in June versus 1.2 forecast and 0.4 in May.
  • Dallas Fed Manufacturing Output Index 4.1 in June versus 9.4 in May.

Commodities

  • Gold faded overnight as the prospect of higher rates continued as an overhang. Last week marked the fourth consecutive weekly decline despite ending the week on a positive note and this week is not off to a strong start. Some easing in the Dollar removed a little pressure but not enough to push gold to gains. August futures settled -$57.40/oz, or -1.40%, at $4,038.90.
  • WTI crude futures gained overnight as news of US and Iran strikes created incremental uncertainty. Though both sides have agreed to meet this week (headlines subject to debate, as usual), prices inched higher as stocks of crude in the US SPR fell last week to the lowest levels since 1983. August futures held gains through the remainder of the session before settling +$1.52/bbl, or +2.20%, at $70.75

 

Macro

Up/Down

Last

WTI Crude

1.52

70.75

Brent

1.16

73.15

Gold

-57.40

4,038.90

EUR/USD

0.0039

1.1429

JPY/USD

0.211

161.941

10-Year Note

0.002

4.374%

 

Sector News Breakdown

Retail, Consumer Staples & Restaurants:

  • SMG appointed Bate Baxter as President and CEO; Jim Hagedorn steps down as CEO and Chairman. PVH announced a new credit agreement that includes eur400M term loan and $1.5B revolving credit facility. CPRT shares dropped after announcing CEO transition; Jeff Liaw to step down as CEO and director with Jay Adair appointed CEO, both effective July 31, 2026. MIDD reaffirmed that its Midera spin-off remains on track for July 6, 2026.
  • HRL announced an agreement to sell its Ceratti business in Brazil. GT shares skidded lower following Friday night’s CFO transition and interim appointment announcement. Shares of JACK lifted as retail “meme” traders focused on the fast-food chain in sympathy with last week’s focus on peer WEN. ELUXY submits claims related to refund of IEEPA tariffs of ~$88M. Waymo (GOOGL) and UBER quietly part ways in Phoenix prt TechCrunch.

Homebuilders, Building Products, Home Furnishing:

  • BLD shares dropped as investors brace for the company to be acquired by QXO in the deal that was announced in April. The WSJ reported that CSL made more than one unsolicited offer to acquire roofing maker OC in what would be a well-over $10B deal, according to people familiar with the matter; OC shares gained over 10% on the report.

Autos, Leisure, Gaming & Lodging:

  • Nikkei reported that HMC eyes $2.5B in Eurobonds to fund payments to parts makers. BMWYY is to expand US Electric vehicle production in Spartanburg per Handelsblatt. STLA says they plan a Jeep six-model range in Europe by 2030 with a European lineup that also includes two new B-segment SUVs; Jeep to also build large SUV in China with Dongfeng.

Energy

  • Shares of NBIS moved higher following positive comments from Goldman Sachs as well as lifting estimates and price targets. BKR announced it would continue long-term service agreement with Nigeria LNG for expansion project. FCEL shares jumped by ¼ after reporting having secured $49M in EXIM financing to advance U.S. clean energy export. NNE shares moved upward after Semafor reported a potential investment from a firm linked to UAE National Security Adviser Sheikh Tahnoon Bin Zayed. E signed a sale and purchase agreement for acquisition of 32% interest in 3 upstream blocks in Vaca Muerte Basin, in Argentina. SD will buy Cherokee Play for $65M. Shares of OXY were mixed despite the largest insider purchase in 4 years; $250K worth by its CEO. The Department of interior announced that DUK is to voluntarily terminate its offshore wind lease located in Carolina long bay area valued at $129M.

Banks, Brokers, Asset Managers:

  • ICE said they would launch economic indicator futures contracts in August. ASST reported holding 19,864 Bitcoin as of June 26, 2026. Shares of HOOD lifted after reporting MTD trading volumes.

Bitcoin, FinTech, Payments:

  • Shares of MSTR ended their selloff after announcing they had established $1B repurchase program for digital credit securities as part of a digital credit capital framework, USD reserve policy, STRC dividend policy, digital credit and MSTR repurchase authorizations, and BTC monetization program. CRCL announced that BNY had expanded its relationship with Circle and added to institutional grade stablecoin enablement services.

Insurance & Services:

  • Shares payment processing solutions firm RPAY rallied after it confirmed the receipt of a revised unsolicited, non-binding proposal from Forager Capital Management.

REITs:

  • KRG announced a proposed private offering of $300M of exchangeable senior notes.

Biotech & Pharma:

  • VTRS announces positive top-line results from Phase 3 study of vr-205 in Japanese adults with primary immunoglobulin a nephropathy. In a PR, BCRX announced that they would shift strategic focus to external innovation for rare disease pipeline and reaffirmed full year 2026 orladeyo and total company revenue guidance. NBP shares lifted after announcing the appointment of Dr. Srishti Gupta as CEO. AORT announced U.S. FDA approval of the AMDS hybrid prosthesis. DNTH announces initiation of Phase 3 emerge trial of claseprubart in generalized myasthenia gravis. NGNE reported positive long-term clinical data from phase 1/2 trial of NGN-401 gene therapy for Rett syndrome. RGNX shares rose after reporting topline data from atmosphere and Ascent trials of sura-vec in Q4 2026 and first patient dosed in phase IIB/III naavigate trial of surabgene lomparvovec in diabetic retinopathy; company to receive $100M milestone.
  • BHVN shares fell after announcing the advancement of a new class of precision immunology therapies: first mode extracellular protein degrader, BHV-1300, begins Phase 3 pivotal trial in Graves’ Disease; additionally, BofA downgraded the company to Underperform. VYGR won FDA IND clearance for Alzheimer’s gene therapy VY1706; dosing is expected to begin in H2 2026. FDMT shares traded up after announcing it had completed enrollment for 4front-2 global phase 3 clinical trial of 4d-150 in wet amd. BIIB announced they would highlight breadth of Alzheimer’s Disease Portfolio at AAIC 2026, Including Phase 2 CELIA Data for Diranersen. PALI shares rose after receiving FDA clearance of IND for Pali-2108 and plans to initiate global Phase 2 ascentra-uc study in ulcerative colitis.
  • Shares of EVMN fell sharply after top-line results from EVO756 Phase 2B trial in moderate-to-severe chronic spontaneous urticaria fell short. EBS announced it had secured contract modification valued at approximately $52.7M for acam2000® (smallpox and mpox (vaccinia) vaccine, Live) from the U.S. government. VRDN shares lifted after U.S. FDA greenlighted the co’s thyroid eye disease drug. CNBC reports that REGN and LLY are among first companies selected for FDA initiative to speed review of new manufacturing facilities 

Healthcare Services & MedTech movers:

  • MRK announced a new agreement with ADAP Crisis Task Force to improve access and care for people Living with HIV. DOCS shares lost ground after BofA cut their rating to Underperform from Buy. MMED appointed Alcon CEO David Endicott and Linnea Burman to its Board of Directors. PHG signed a strategic contract with University Health in San Antonio to modernize patient monitoring using its Enterprise Monitoring as a service model. Shares of QDEL were higher by 1/3 after the FT reported that it had point-of-care testing unit up for sale, aiming at a valuation of $1.5B. PETS shares rose on a revised $3-a-share buyout offer from holder SilverCape.

Transports

  • Shares of YMM traded higher following an upgrade to Overweight by JPMorgan. GNK shares were higher after the company said its board had unanimously rejected DSX’s $24.8 tender offer. AMKBY updated its outlook: FY adjusted EBITDA USD 8,000-10,000M
    Maersk and FY adjusted ebit USD 2,000-4,000M.

Aerospace & Defense

  • MLM shares moved lower after announcing a deal to combine with limestone supplier lhoist North America for $13.5B. Shares of IRDM soared after RKLB announced that they would acquire Iridium for $54 per share in a cash and stock transaction valued at $8B. Microcap NNBR saw its shares fly higher after announcing significant new awards for its Nvidia data center liquid cooled products business. EVTL announced it had selected ATRO as low-voltage power distribution supplier for Valo. Drone-maker SWMR saw its shares move skyward after announcing they had added an additional $1M in revenue from Skyknight contract update that expands swarming software to Czech Republic. KOPN said they had secured multiple orders for sentinel FPY™ prototypes as drone dominance program accelerates.
  • Shares of new IPO DPC were moderated higher after it was reported that multiple insiders purchased shares last week. EADSY is in advanced talks to acquire Grupo Masa to acquire Grupo MASA, an international services company. Shares of SPCX moved higher following news that the new IPO would join the Nasdaq-100 Index on July 7, opening it up to billions of passively invested dollars. FLY shares moved higher after NVDA reported that Firefly Aerospace operates Nvidia Jetson in lunar orbit for the first time. Newly spun off HONA said it is considering M&A for technologies related to areas like electrification, autonomy, safety and productivity

Materials, Metals & Mining

  • URG announced it won Wyoming approval to ship uranium-loaded resin from Shirley Basin to Lost Creek. ONT was awarded a $6M Australian contract to support environmental approvals for major mining operation.

Internet, Media & Telecom

  • PLTR and SRFM announced an expanded partnership to accelerate commercialization of operatoros, owneros, and enterprise products; SRFM shares rose. CMCSA shares moved higher after the company announced it would split by spinning off NBCUniversal and Sky and separating the company’s connectivity business from its film, theme park and streaming operations. GILT shares traded higher after reporting that the company had secured $43M in new orders for high-performance antenna systems. APP shares were higher following a Buy initiation and $640 PT by Raymond James. GOOGL launched free personalized Image Generation in Gemini app for U.S. users starting today. BABA and TCEHY were dropped by DC lobbyists to comply with US law per Bloomberg.

Hardware & Software movers:

  • PLTR and NVDA announced that they would team up to enable US government’s own model improvement and operational control of mission-critical AI work. BAH and OpenAI will partner to deploy mission-ready AI to enable secure Ai deployment in defense and commercial operations. Politico reported that CA Governor Newsom and Anthropic signed a deal to expand government use.
  • NOW and ACN announced they would launch AI-powered services to accelerate the shift from legacy risk platforms to agentic AI. The Information reported that META is limiting employee use of Claude and Codex for AI model building over concerns about distillation. Quantum compute name QNT saw its shares fall after this morning’s ratings initiations were mixed. The Information reported that AMZN could pay more for Anthropic technology under new deal making it more expensive for Amazon to use Anthropic models.

Semiconductors:

  • Shares of MU traded lower as traders evaluated several negative stories: South Korea’s SSNLF and Hynix increased capacity, a price fixing lawsuit and news that AAPL’s desire to buy memory chips from China’s CXMT.
  • Shares of chip equipment makers such as AMAT and chipmaker SMCI rose after Sunday’s news that SSNLF and Sk Hynix Inc would invest in two new fabrication sites in South Korea, per the S. Korean government. NVDA stated that Anthropic’s Claude models are now available on Nvidia GB300 Blackwell Ultra in MSFT’s Azure.
  • Sharers of SMCI fell after it was reported that their Taiwan office was raided by authorities as Taiwan expands chip smuggling probe.

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Market commentary provided by Hammerstone Markets, Inc, a firm separate from and not affiliated with Regal Securities. Regal Securities has not participated in the creation of the content, and does not explicitly or implicitly endorse the content.

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