Opening Comment — Friday, July 10, 2026
DJIA: 52,487.41, up 139.02
S&P 500: 7,543.64, up 60.93
NASDAQ: 26,206.89, up 336.24
Stocks mixed to end out week
Stock futures are mixed Friday morning as investors are closely watching developments in the Iran war. Next week, investors will be looking forward to June inflation, retail sales, and industrial production data, along with July consumer sentiment and Federal Reserve (Fed) Chair Kevin Warsh’s delivery of the Fed’s semiannual testimony to Congress. As of 7:15 AM ET, the Dow is rising 0.2%, while the S&P 500 is flat. The Nasdaq 100 is falling 0.2% relative to fair value on the GLOBEX.
U.S. equities were higher on Thursday as both initial jobless claims and continuing claims fell. Existing home sales unexpectedly decreased in June to an annualized pace of 4.09 million. The Dow was up 0.3%, while the tech-heavy Nasdaq Composite rose 1.3%. The S&P 500 increased 0.8% with seven of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 1.7%, while the Consumer Staples sector was the bottom performer, falling 1.8%.
Technical Analysis
As of midday Thursday, the trend for the S&P 500 remains higher. Resistance is at the recent high of 7,621, with support at the 50-day and 200-day moving averages of 7,424 and 6,961, respectively.
Across the pond, European stocks are higher in mid-day trading as June finalized Consumer Price Index (CPI) inflation declined 0.3% month-over-month (MOM) in both Germany and France and increased 2.3% and 1.8% year-over-year (YOY), respectively, in line with the preliminary readings and expectations.
Overnight in Asia, stocks were mixed as Japan’s Producer Price Index eased as expected to 0.4% MOM and accelerated more than forecast to 7.1% YOY in June following an upward revision to the prior month’s data.
In FOREX trading, the U.S. dollar is slightly lower ahead of next week’s U.S. June inflation data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.2% lower at $71.97/barrel.
In the metals complex, gold is 0.4% lower at $4,108.51/ounce despite a weakening U.S. dollar.