Morning Preview: July 06, 2026

Early Look

Monday, July 6, 2026

U.S. futures are looking higher, building on last week’s advance in what is expected to be a quiet week of data, central banks, and ahead of the start of quarterly earnings next week. Stocks ended mostly lower on Friday outside of the Dow but registered solid wins on the week as the S&P 500 gained 1.75%, the Nasdaq climbed 2.12%, and the Dow climbed 1.97%. For the Dow Jones Industrials, it recorded its fourth straight week of gains, longest streak since October 2024. The Dow closed at a record high, while the S&P 500 index and Nasdaq Composite remain 1.7% and 4.7%, respectively, below their early June peaks. A light week as traders return from the 3-day holiday weekend for economic data and earnings. In Asian markets, The Nikkei Index slipped -6 points to 69,737, the Shanghai Index fell -2 points to 4,041, and the Hang Seng Index rose 266 points to 23,616. In Europe, the German DAX is up 50 points to 25,829, while the FTSE 100 slips -14 points to 10,664. Tech rebounds with Nasdaq futures up over 1% pre mkt after slipping on Friday as chip stocks rebound. South Korean chipmaker SK Hynix on Monday launched a U.S. share sale to raise 43 trillion won ($28.07 billion), the company said, as it capitalizes on the global AI boom with one of the world’s largest new share sales. While the market continues to fully price in one Fed rate hike this year following the jobs report last Friday, markets pulled back slightly on their conviction after the US economy added 57,000 jobs last month, roughly half the jobs economists had expected. At the same time, May’s 172,000 addition was revised down to 129,000, and April’s tally was lowered to 148,000 from 179,000

• The Dow Jones Industrial Average rose 594.83 points, or 1.14%, to 52,900.07
• The Nasdaq Composite dropped -207.36 points, or 0.80%, to 25,832.67
• The Russell 2000 Index declined -32.09 points, or 1.07% to 2,980.05

• 9:45 AM ET S&P Global Services PMI, June final…est. 51.3
• 10:00 AM ET ISM Non-Manufacturing PMI for June…est. 54.5

• Earnings After the Close: EPAC KRUS PENG SAR

• Midera Food Processing Inc. (MFP) will replace Redwood Trust Inc. (RWT) effective prior to the opening of trading on Wednesday, July 8. S&P MidCap 400 constituent The Middleby Corp. (MIDD) is spinning off Midera Food Processing in a transaction that is expected to close July 7

• Maersk (AMKBY) said that one of the services in its Gemini network with Germany’s Hapag-Lloyd will resume sailing through the Suez Canal instead of going around Africa’s Cape of Good Hope.

• Prosperity Bancshares (PB) downgraded to Equal Weight from Overweight at Morgan Stanley saying with pressure on growth and expenses building as competition intensifies in Texas, there are fewer positive catalysts in the near term.
• Truist Financial (TFC) downgraded to Equal Weight from Overweight at Morgan Stanley saying the banks remains a strong Southeast franchise with meaningful excess capital, fee growth, and a path to higher ROTCE, but the CEO transition amid intensifying deposit competition increases the possibility the company will reset the strategy.
• Unum Group (UNM) announced today that its Unum Life Insurance Company of America subsidiary  has entered into an agreement to cede to Fortitude Reinsurance Company Ltd., on a coinsurance basis, certain individual long-term care insurance policies representing $3.8 billion of statutory reserves in Fairwind Insurance Company, a wholly owned subsidiary of Unum.

• Clarivate (CLVT) announced it has entered into a definitive agreement to divest its Life Sciences & Healthcare segment to Altaris, an investment firm with an exclusive focus on acquiring and building companies in the healthcare industry, for $600M; reaffirms full year outlook.
• Novartis (NVS) said it agreed to pay up to $1.5 billion for Myricx Bio, in a bid to bolster its portfolio amid industry competition for oncology drugs; Novartis will pay $1.1 billion upfront, with up to $400 million in potential additional payments.

• B. Riley warns of structural headwinds for Optical Transceivers (AAOI, LITE, COHR). B. Riley said Amazon’s RNG and OpenAI’s MRC are becoming structural headwinds for transceiver TAM as hyperscalers move toward flatter network architectures.
• Meta Inc. (META) CEO Mark Zuckerberg acknowledged shortcomings in the company’s sweeping restructuring at an internal town hall on Thursday, saying the systems known as AI agents had not progressed as quickly as he had expected, according to a recording heard by Reuters.
• Minions & Monsters, produced by Illumination and distributed by Universal Pictures, brought in an estimated $36.4 million over Friday, Saturday, and Sunday, and $61.4 million in the five days since its July 1 opening, according to Rentrak. Minions and other movies generated an estimated $121.3 million weekend at the North American box office, down about 23% y/y.
• South Korean chipmaker SK Hynix launched a U.S. share sale to raise 43 trillion won ($28.07 billion), the company said, as it capitalizes on the global AI boom with one of the world’s largest new share sales. Sk Hynix plans to offer 17.79M common shares in US IPO.
• StubHub (STUB) is under investigation by Texas Attorney General Ken Paxton over widespread reports that the company is cancelling or failing to provide World Cup tickets that fans have purchased. Since the 2026 FIFA World Cup kicked off, fans across the country have reported that StubHub cancelled their tickets days or even hours before kickoff.
• T-Mobile (TMUS) was upgraded to Buy from Neutral at Bank America with an unchanged $220 price target saying the market is overreacting to peak concern, and T-Mobile has the most strategic partnership value, lowest exposure to low earthy orbit broadband and wireless, and has the most wireless pricing flexibility.