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Bloomberg — Week of 2026-06-27 to 2026-07-03#

Story of the Week#

The volatile ceasefire between the US and Iran dominated global markets, with early-week tit-for-tat military strikes in the Strait of Hormuz giving way to a renewed truce and indirect peace talks in Qatar. The safe passage of commercial shipping lanes prompted a massive unwinding of the war-driven energy shock, driving global oil prices sharply lower and prompting Citigroup to forecast crude could slump to $60 a barrel by year-end.

CNBC

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CNBC — Week of 2026-06-27 to 2026-07-03#

Story of the Week#

A shockingly weak June jobs report severely cooled fears of an overheating economy, essentially pricing out a near-term Federal Reserve rate hike and sparking a massive sector rotation. The U.S. economy added a mere 57,000 jobs while a staggering 720,000 workers exited the labor force, sending the Dow Jones Industrial Average surging nearly 600 points to a record close of 52,900.07 as investors aggressively dumped high-flying semiconductors for cyclical laggards.