Source: Charles Schwab, data from 6/29 – 7/2

Weekly Market Minute

📢 Trump Accounts officially launch today, July 4th. For more information, see our short video below or on our website here.

🧭 This Week In the Markets

Equities Close Out a Strong First Half

U.S. stocks delivered strong gains during the first half of 2026, supported by resilient corporate earnings, easing concerns surrounding artificial intelligence spending, and reduced geopolitical uncertainty. The S&P 500 advanced 9.6% through the first six months of the year, while the Nasdaq Composite gained more than 12% as technology stocks continued to lead the market. The Dow Jones Industrial Average rose 8.9%, its strongest first-half performance since 2021, and the Russell 2000 climbed nearly 22%, marking its best first half since 1991 as market leadership broadened beyond large-cap technology. During the second quarter alone, the S&P 500 and Nasdaq posted their strongest quarterly gains since 2020, reflecting renewed investor confidence as earnings remained solid and concerns over AI-related spending and geopolitical tensions eased.

Job Growth Slows While Unemployment Edges Lower

The U.S. unemployment rate declined to 4.2% in June, though the improvement was largely driven by a drop in the labor force participation rate to 61.5%, its lowest level since March 2021, rather than stronger hiring. The economy added 57,000 jobs during the month, well below expectations of 115,000 and down from a downwardly revised 129,000 jobs in May, while payroll gains for both April and May were revised lower, suggesting continued moderation in the labor market. Average hourly earnings continued to increase at a steady pace, rising 0.3% in June and 3.5% over the past year. Professional and business services led job growth, followed by gains in social assistance and healthcare, while leisure and hospitality posted the largest decline. Following the report, Treasury yields moved lower as markets increased expectations that the Federal Reserve will leave interest rates unchanged in the coming months.

Big Tech Continues to Build the AI Ecosystem

Recent announcements from Amazon and Meta highlight how major technology companies are moving beyond AI models to invest in the hardware and infrastructure that will power future growth. Amazon announced that it is designing custom artificial intelligence chips for their consumer devices as part of its broader effort to enhance AI capabilities and deepen integration between its hardware and software. The proprietary chips are designed to run AI models directly on devices, enabling faster response times, improved privacy, and reduced reliance on cloud computing.

Meta is exploring the launch of a cloud computing business that would allow outside customers to access its artificial intelligence infrastructure and computing capacity. Investors responded positively, as the initiative could create a new source of recurring revenue while improving the return on the company’s significant AI investments. The strategy would also diversify Meta’s revenue beyond digital advertising and strengthen its position in the rapidly expanding market for AI infrastructure and cloud services.

🏢 Corporate Earnings

• Nike (NKE) outperformed expectations, reporting adjusted earnings per share of $0.20 on $10.97 billion in revenue, compared to analysts’ expectations of $0.13 and $10.86 billion, as higher gross margins and a tariff refund helped offset continued weakness in its Greater China business.
• Constellation Brands (STZ) topped estimates, reporting adjusted earnings per share of $1.90 on $1.92 billion in revenue, compared to analysts’ expectations of $1.72 and $1.88 billion, as continued strength in beer sales helped offset softer consumer demand across the broader alcohol market.

📊 Sector Performance

4-day closing price ($) and change (%)

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 7/2

Latest from EMW

Brooke May, CFP on Bloomberg Businessweek 7/2/2026
Unemployment ticked down to 4.2%, while average hourly earnings increased 3.5% year-over-year. Not too hot, not too cold… just enough to keep economists debating and the Fed reaching for another cup of coffee. ☕ Sometimes, “boring” is exactly what markets like to see.

Trump Accounts Frequently Asked Questions
Trump Accounts officially launch July 4, but what are they exactly and how do they work? In this short video, we highlight the key facts families should know about this new savings vehicle for children.

If Something Happened Tomorrow, Would Your Spouse Be Prepared?
One of the most common mistakes Lizzie sees isn’t poor investing, it’s families who don’t fully understand what would happen if their estate plans had to work tomorrow.

📰 Dollars & Sense: This Week’s Rapid Read

America at 250: Celebrating Free Enterprise
As America celebrates its 250th birthday, we have an opportunity to reflect on what has powered our nation’s remarkable journey: from a young republic of farmers, merchants, and inventors to the world’s largest economy.

Source: U.S. Chamber of Commerce

Dive deeper on financial topics you should know:

Money Moves with Darin
Real-world wealth strategies and actionable insights to help you think smarter about money.

Lizzie’s Wealth Wisdoms
Strategies and tactics that you can employ today to help minimize taxes, protect your net worth, and simplify your life.

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Sources: CNBC, CNBC, CNBC, CNBC
Corporate Earnings: Nike, Constellation Brands

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