Top U.S. Stories

  • President Trump traveled to Ankara, Turkey, for the NATO summit (July 7-8), where Secretary General Mark Rutte has set three priorities: raising defense investment, strengthening the transatlantic defense industrial base, and continued support for Ukraine. Allies are expected to pledge roughly €70 billion in military aid to Ukraine for 2026, and Trump is set to hold bilateral meetings with President Erdoğan and Ukraine’s Volodymyr Zelensky (NATO, NPR).
  • Hamas announced the dissolution of the body that has governed Gaza for nearly two decades, saying it is “fully ready” to hand power to the UN-backed National Committee for the Administration of Gaza. Israel dismissed the move as “deception with no practical significance,” and the announcement made no mention of Hamas disarmament (Al Jazeera, CNN).
  • Iran’s multi-day state funeral for Supreme Leader Ali Khamenei, killed in a U.S.-Israeli strike on February 28, continued in Tehran, while Trump said the U.S. “will win one way or the other” regarding Iran (CBS News).
  • Michigan state Sen. Mallory McMorrow dropped out of the Democratic U.S. Senate primary race weeks ahead of the August 4 vote (Fox News).
  • Tyler Robinson, accused of assassinating Turning Point USA founder Charlie Kirk, is pushing back as prosecutors’ case against him takes shape ahead of proceedings at Utah Valley University (Fox News).
  • Taylor Swift and Travis Kelce were married at Madison Square Garden in New York City (CBS News).

Markets

The Dow Jones Industrial Average closed at a record 53,055.91 on Monday, July 6 (+0.29%), topping 53,000 for the first time as trading resumed after the Independence Day holiday weekend. The S&P 500 rose 0.72% to 7,537.43 and the Nasdaq Composite gained 1.12% to 26,121.16 (TheStreet). WTI crude traded below $69 a barrel, near its lowest level since late February, as recovering shipping through the Strait of Hormuz and expectations of higher OPEC+ output raised concerns about oversupply (fxdailyreport.com). The dollar bought 162.34 yen per the ECB reference rate dated July 6 (frankfurter API). Japan’s Nikkei 225 was little changed, closing down 6 yen at 69,737 as investors weighed conflicting signals from the “Hormuz normalization” trade (Nikkei).

Stocks in Focus

  • AMD: Shares clawed back some of the prior session’s 4.26% drop, trading up 2.47% to $530.64 in premarket after Nvidia-related news and a customer update stirred volatility across AI chip names (ts2.tech).
  • Oil and energy: WTI crude fell to its lowest level since late February on recovering Hormuz Strait shipping and expectations of higher OPEC+ output, pressuring energy shares even as it eases input costs elsewhere (fxdailyreport.com).

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