Daily Market Report – July 8, 2026

Markets

Geopolitical tensions remained the dominant theme in the international financial markets. After US President Donald Trump declared the end of the ceasefire with Iran at the NATO summit, the price of Brent crude oil (UKOIL) temporarily rose by more than five percent. Higher energy prices again fueled inflation concerns and initially weighed on the stock markets. However, during the trading session, a stabilization occurred as investors assessed the immediate impact on global economic growth as limited. The S&P 500 (SPX) closed slightly in the negative, while the Nasdaq Composite (IXIC) managed to gain slightly thanks to a recovery in large technology stocks. The Dow Jones Industrial Average (DJI) declined more significantly.

In the bond markets, the yields on ten-year US Treasury bonds (US10Y) initially rose before giving back some of their gains throughout the day. Gold (GOLD) temporarily benefited from the increased demand for safe assets but could not maintain the day's highs. Market participants remain torn between robust corporate earnings and growing geopolitical risks.

Company

The technology sector once again dominated market activity. After the strong price increases of recent months, investors initially took profits before particularly the large AI and infrastructure stocks found buyers during the trading session. The market is increasingly focusing on the earnings season that begins next week.

The focus is particularly on NVIDIA (NVDA)), Broadcom (AVGO)), Advanced Micro Devices (AMD)), and Marvell Technology (MRVL)). Investors are particularly attentive to indications of whether the investment willingness of the hyperscalers remains consistently high. Given the demanding valuations, even slight changes in revenue or margin forecasts could lead to significantly stronger price movements.

Macroeconomics

The focus of the political news was the NATO summit in Ankara. US President Donald Trump spoke after the meeting of an "extraordinary unity" within the alliance and welcomed the progress of European partners towards the goal of increasing defense spending to five percent of gross domestic product. At the same time, he announced a significant expansion of American arms production and emphasized that numerous allies wanted to accelerate their orders with US defense companies.