Stocks Reach New Highs While Bitcoin Trails 07/01/2026

HOT stories for today

Market wrap:

• U.S. stocks advanced Tuesday as investors appeared to look past geopolitical concerns following reports of a U.S. attack on Venezuela over the weekend. The Dow Jones Industrial Average rose nearly 485 points, or 1%, closing above 49,000 for the first time on record. The S&P 500 gained about 0.6% to notch another all-time high, while the Nasdaq Composite added roughly 0.7%. Nine of the S&P 500’s 11 sectors finished higher, led by advances in health care and technology. Among individual movers, Amazon and Palantir Technologies each climbed more than 3%. Data-storage stocks also outperformed, with SanDisk, Western Digital, and Seagate Technologies among the index’s top gainers. Tesla and Nvidia ended the session lower.
• In political markets, prediction platforms showed rising odds that Donald Trump could pursue control of the Panama Canal and take steps toward Greenland. Looking ahead, Wells Fargo Investment Institute’s head of global investment strategy, Paul Christopher, said maintaining “social calm” will be critical to the market’s trajectory. On the data front, December’s U.S. services PMI posted its weakest expansion in eight months, reinforcing expectations for interest-rate cuts. Investors now turn their attention to Wednesday’s closely watched JOLTS job openings report.

Bitcoin Pulls Back After Early-Year Rally

• Bitcoin retreated Tuesday as a surge in selling pressure erased much of its early-year advance, though analysts said the move appears to be a short-term setback rather than a break in the broader recovery. The largest cryptocurrency is still up more than 7% since the start of 2026, after reaching a local peak near $94,420 earlier in the session, according to CoinGecko data. Gains over the past week spilled into the wider market, lifting alternative tokens and adding about $250 billion to total crypto market capitalization. The rally has been fueled by easing year-end liquidity constraints and growing expectations that the Federal Reserve will begin cutting interest rates in 2026.
• The latest pullback is viewed as a normal correction, with technical support seen between $90,850 and $92,900. On the upside, traders are watching resistance around $94,780, last week’s high. A decisive break above that level could signal the next leg higher, with potential targets near $97,000, a key retracement level, and $98,400, a technical extension zone. Looking ahead, analysts expect price action to remain volatile but gradually firm through the first half of the year, driven by discrete catalysts rather than a sustained one-way rally. Over the longer term, institutional allocations through spot exchange-traded funds are seen as the dominant force, absorbing capital and reducing reliance on short-term sentiment. More broadly, market participants expect speculative projects to continue losing traction, while assets tied to infrastructure, payment settlement and real-world use cases stand to attract the bulk of inflows.

Stocks on the move:

• Credit score stocks: Shares of credit-reporting firms traded lower after Federal Housing Finance Agency Director Bill Pulte criticized the companies’ pricing practices in a post on X. TransUnion [TRU] fell about 4%, Equifax [EFX] dropped more than 5%, and Fair Isaac [FICO] slid nearly 4%.
• Cooling equipment makers: Shares of data-center cooling suppliers declined after Nvidia Chief Executive Officer Jensen Huang said the company’s six-chip Vera Rubin platform is more energy efficient than its Blackwell chips and does not require water chillers. Trane Technologies [TT] fell roughly 4%, Johnson Controls [JCI] dropped nearly 8%, and Modine Manufacturing [MOD] sank about 10%.
• Data storage plays: Stocks tied to data storage jumped. SanDisk [SNDK] surged 24%, Western Digital [WDC] gained about 15%, and Seagate Technology [STX] advanced roughly 12%.

Watchlist: MSTR, NVDA, AMZN, TSLA, SNDK, WDC,  CALM, UNF, ACI

Key Economic Events Today:

EST time
08:15 am: USD ADP Non-Farm Employment Change
10:00 am: USD ISM Services PMI
10:00 am: USD ISJOLTS Job Openings
10:00 am: USD Factory Orders
01:10 pm: USD FOMC Member Bowman Speaks


Earnings

BMO ( Before Market Open): Albertson Companies (ACI), Cal-Maine Foods (CALM), Unifirst Corp. (UNF), Apogee Enterprises (APOG)
AMC (After Market Close): Constellation Brands (STZ), Jefferies Financial Group (JEF), Applied Digital Corp. (APLD)




The TEFS Analyst team wishes you a successful day!