07/07/2026 Daily Reports
Market News Briefing — Tuesday, 7 July 2026
- Nasdaq. US stocks rose Monday as pressure on the tech sector eased; the Nasdaq Composite jumped 1.1% while chip stocks recovered from a recent dip, with Alphabet, Apple, Meta and Tesla rallying. Nvidia supplier Foxconn reported stronger-than-expected quarterly sales, a sign of sustained AI demand, putting the spotlight on Samsung Electronics’ results due Tuesday. SpaceX, which went public on June 12, officially joins the Nasdaq-100 index before trading begins Tuesday. Microsoft announced it is cutting 4,800 jobs, about 2.1% of its workforce, with its Xbox division losing roughly a fifth of its staff.
- DAX. European equity markets paused near all-time highs on Monday, with attention turning to the Fed minutes and central bank speakers. The DAX closed at a record 25,779 on Friday, gaining 4.7% for the week; E.ON and Siemens led gains after broker upgrades, while Rheinmetall fell after the German government cancelled the F126 frigate project, with the company warning of a revenue hit of up to €300 million this year. Separately, the German government rejected UniCredit’s takeover bid for Commerzbank, calling the offer insufficient.
- Nikkei. The Nikkei 225 closed nearly flat at 69,737 on Monday while the broader Topix gained 0.9%, as strength in industrial and consumer names was offset by weakness in technology shares amid rotation out of AI-related stocks; SoftBank Group fell 3.1% while Mitsubishi Heavy Industries rose 8.4%. Key data — household spending, PPI and machine tool orders — is due this week.
- Gold. Gold steadied around $4,150 an ounce Tuesday ahead of the Fed’s June meeting minutes. Weak June payrolls (+57,000) cut market-implied odds of a September rate hike to roughly 50%.
- Brent. Brent held near four-month lows as OPEC+ agreed a 188,000 bpd quota increase for August, Strait of Hormuz traffic kept recovering, and Saudi Aramco cut its Arab Light price for Asian buyers to a $1.50 discount versus the regional benchmark.
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Market Update: Le Pen’s Ruling, Quiet Dollar & JPY Intervention Risks!
- Le Pen’s Court Ruling – Politics Over Markets: While the Paris appeal court’s decision on Marine Le Pen’s embezzlement case is a seismic event for French politics ahead of the 2027 elections, the markets are remaining remarkably calm. Why? Investors have largely priced in a potential National Rally (RN) victory—whether led by Le Pen or Jordan Bardella—expecting pragmatic, market-friendly fiscal policies.
- Euro Stays Grounded: Expect low volatility for the Euro today. A retest of the 1.140 level against the Dollar is possible, but without strong data or a sudden surge in polls from left-wing candidates, major bond or FX shifts are highly unlikely.
- Quiet USD & The Power of Carry: The week started slowly, with US ISM services hitting right on consensus (54.0). With a light data calendar today, the high-yielding Dollar remains heavily favored for carry trades. The DXY is expected to hover closer to 101.0 than 100.0 unless tomorrow’s FOMC minutes deliver a dovish surprise.
- High Alert for JPY Intervention: The Dollar/Yen (USD/JPY) pair continues to march to its own beat, nearing the 162.0 mark. If Japanese authorities fail to intervene below 163.0, markets might start heavily speculating that the new “line in the sand” has been moved to 165.
- RBNZ Rate Hike on the Horizon?: All eyes are on the Reserve Bank of New Zealand! Despite falling oil prices, markets are still pricing in a rate hike to prevent inflation expectations from de-anchoring.
- Sterling’s Potential Boost: Keep an eye on the Bank of England’s Financial Stability Report. If the BoE removes gilts from its Leverage Exposure Measure, domestic demand could rise, lowering government borrowing costs and potentially pushing EUR/GBP down through support towards the 0.8500 area.
