NDW Morning Pulse
Below are highlights from the NDW Morning Update Video for the morning of 7/1/26. Access the the video on the NDW Morning Update Video page.
- US equities were up for a second day in a row yesterday as the S&P 500 (SPX) gained 80 bps to finish the quarter on a positive note.
- Technology once again outpaced the broader market as the iShares Semiconductors ETF (SOXX) was up more than 4% and the Nasaq-100 (NDX) gained more than 1.5%. SOXX returned to a buy signal with yesterday’s action, breaking a double top at $640.
- Oil prices continued to slide falling below $70/bbl.
- SPX finished the quarter up nearly 15%. Technology stocks outpaced the broader market as NDX gained more than 27.5% and semiconductors were up almost 95%.
- Small caps outpaced large caps as the Russell 2000 (RUT) gained more than 21%.
- International equities also advanced during Q2, but it there was a wide spread between emerging & developed markets. The iShares MSCI Emerging Markets ETF (EEM) was up more than 20%, while the iShares MSCI EAFE ETF (EAFE) gained a little under 7%.
- It was an unproductive quarter for commodities as gold (GC/) was down more than 13% while silver (SI/) dropped more than 20%. Gold and silver are now in negative territory for the year after silver was up more than 60% at its peak in January.
- Meanwhile, crude oil finished the quarter down roughly 31.5% giving back virtually all of the gains it saw at the beginning of the Iran conflict.
