Market Recap - Monday July 6, 2026
AI Stocks Rebound as Markets Start the Week Higher
U.S. stocks finished higher to start the week, led by another rebound in AI-related stocks.
The biggest story was a rebound in semiconductor, memory, and AI infrastructure stocks after last week’s pullback. Investors appeared willing to step back into the AI trade, helped by continued optimism around data centers and long-term AI demand.
TeraWulf rose after announcing a major long-term lease agreement with Anthropic, reinforcing the idea that AI companies still need massive computing capacity.
Broader Market Took a Breather
While the headline indexes rose, the rally was not especially broad. The equal-weighted S&P 500 lagged the regular S&P 500, meaning the largest companies were doing more of the work today.
Financials, machinery, autos, and tech hardware were stronger, while healthcare, homebuilders, restaurants, staples, and utilities were weaker.
Economic Data Was Steady
The services side of the economy continued to grow, though at a slightly slower pace. Encouragingly, employment in the services report moved back into expansion, and price pressures cooled somewhat.
That gives investors some comfort that the economy is still holding up, while inflation pressure may be easing at the margin.
Rates Moved Lower
Treasury yields fell at the short end of the curve, which helped support growth stocks. Investors are still watching the Fed closely, especially after recent debate around whether inflation risks could force more rate hikes later this year.
Here’s Our Take
Today’s move was really about the AI trade finding its footing again. After a sharp pullback in semiconductors, investors bought the dip, especially in companies tied to AI infrastructure and memory demand.
That said, the market still looks selective. The biggest indexes were higher, but leadership was concentrated in large tech and AI-related areas. The broader market was more mixed.
For now, the backdrop remains constructive: the economy is still growing, inflation pressure is not worsening, and earnings season is approaching with high expectations. But the market will need strong Q2 earnings to justify the recent rally, especially in AI-related stocks.
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