Market Summary - July 6, 2026
US Market Overview
The US stock market resumed trading after the long weekend, with the main indices showing mixed movements. The US100 futures opened slightly up by around 0.2%, hovering just below the 30,000 mark.
Key Company News
- Broadcom (AVGO.US): Shares rose approximately 5% following news of an extended partnership with Apple, which will last until 2031 and focus on developing new ASIC chips.
- TeraWulf (WULF.US): The Bitcoin mining company saw its stock increase by over 15% after signing a long-term lease agreement with Anthropic.
- Seer (SEER.US): The protein research firm’s stock surged more than 30% after the CEO proposed taking the company private at a premium to the current market price.
- MicroStrategy (MSTR.US): The company's valuation fell by about 1.5% due to news of additional Bitcoin sales to fund dividends, alongside reporting unrealized losses of $8.32 billion on digital assets. Bitcoin's price also dropped below $62,000.
- Zim Integrated (ZIM.US): Shares declined over 6% after comments from Israel’s prime minister regarding a potential sale of the company, which he stated is not planned.
- DataDog (DDOG.US): The company’s stock fell more than 4% following an updated recommendation from Bernstein.
Technical Analysis of US100
The US100 index is currently oscillating around the resistance level at the 38.2 Fibonacci retracement level. There is noticeable supply entering this resistance zone, and while the correction remains shallow, the RSI has normalized. The momentum of the EMA averages indicates a bullish trend. If sellers maintain their initiative, the next target could be the 61.8 Fibonacci level, around 28,445 points.
Macroeconomic Data
The services PMI was reported at 51.2, slightly below expectations of 51.4, but still an increase from the previous reading of 50.7. The ISM non-manufacturing index came in at 54, also below market expectations of 54.2. Notably, the prices subcomponent exceeded expectations, indicating higher-than-forecast price growth at 67.7 compared to 67.5. These data points are particularly significant following K. Warsh’s departure from the “forward guidance” policy, as well as the upcoming conference by FOMC’s Christopher Waller.