On July 8, 2026, the S&P 500 Index is up 0.47%, the Dow Jones Industrial Average is up 0.14%, and the Nasdaq 100 Index has risen 1.55%. Strength in chipmakers is driving this market rally, largely due to the South Korean company SK Hynix’s American depositary receipts (ADRs) being over seven times oversubscribed, potentially raising $24.5 billion—a record for a foreign company, according to Bloomberg.
Weekly initial unemployment claims fell by 2,000 to a six-week low of 215,000, contradicting expectations of a rise, signaling ongoing strength in the U.S. labor market. In addition, second-quarter earnings forecasts suggest a possible 23% increase—higher than the initial 12% estimate—with AI infrastructure anticipated to contribute nearly 60% of the S&P 500’s earnings-per-share growth. Despite escalating tensions between the U.S. and Iran, which involve military strikes and potential disruptions to energy supplies, stock markets remain buoyant.
Internationally, the Euro Stoxx 50 is up 0.83%, while Japan’s Nikkei-225 and China’s Shanghai Composite saw gains of 1.38% and 1.65%, respectively. Interest rates reflect market uncertainty, with a 28% chance of a 25 basis point rate hike discussed ahead of the upcoming FOMC meeting.
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