Track the evolution of major financial and economic events
JPMorgan's Q2 2026 earnings preview indicates a continuation of the strong beat streak, with the bank achieving an average surprise of 7.25% over the last two quarters. Major banks, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, will kick off the Q2 reporting cycle on July 14th. The earnings revisions trend remains positive, with expectations steadily increasing over recent months.
S&P 500's H1 2026 earnings growth is notably driven by the Information Technology, Energy, and Materials sectors. Profit margins for S&P 500 reached a record high, while most other sectors showed modest growth. Analysts' expectations for S&P 500 earnings are rising at the fastest rate since the post-Covid pandemic recovery. Market leaders like NVDA, MSFT, and AAPL are generating record profits and free cash flow, distinguishing this cycle from the 2000 dot-com bubble. 40% of the S&P 500 is concentrated in the top 10 stocks, with elevated P/E ratios and valuation risks.
On July 1, Meta shares jumped on reports that the company plans to launch an AI cloud business targeting external customers. On the same day, the Dow Jones Industrial Average hit a new record high, while semiconductor stocks fell 4.5%, dragging down the Nasdaq 100. On July 3, it was reported that Meta is partnering with Samsung to manufacture AI chips in a deal valued at approximately $6.5 billion.
Fidus Investment achieved a 23% year-over-year growth in net investment income, with a 125% dividend coverage ratio in Q1. The portfolio value grew by 19% year-over-year to $1.37 billion, defying negative industry trends. Meanwhile, Chemtrade Logistics reported strong cash flows despite a 50% year-over-year decline in net income driven by higher operating and finance costs.
On July 1, Artivion received FDA approval for its AMDS Hybrid Prosthesis, removing a key hospital adoption hurdle and opening an estimated $150 million annual U.S. market. On July 2, Tenon Medical received FDA 510(k) clearance for its updated Catamaran SI Joint Fusion System, which includes the reclassification of certain instruments from disposable to reusable status. The company expects reusable instrumentation to drive lower capex and improve gross margins and cash flow. On the same day, Avanos Medical and American Industrial Partners announced the receipt of all required regulatory approvals to complete the pending acquisition.
On July 1, the FDA authorized Philip Morris to market 20 ZYN nicotine pouches with claims of reduced disease risk after a scientific review. On July 3, the FDA classified Insulet's correction to its Omnipod systems as a Class I recall due to a cannula defect. On July 6, the FDA classified Insulet's Omnipod recall as Class I after reports of insulin under-delivery linked to serious injuries.
On July 1, Pacira (PCRX) sold its iovera franchise to Zimmer Biomet (ZBH) in a deal worth up to $140M to sharpen its focus on biopharmaceutical growth. On July 2, U.S. Physical Therapy purchased a majority stake in a physical therapy practice. Additionally, Orthofix Medical shares rose following a decision by the Centers for Medicare & Medicaid Services (CMS) to reverse its stance on non-invasive bone growth stimulators.
AIG has appointed Nancy Bewlay as Executive Vice President and Global Chief Underwriting Officer, effective September 8, 2026. The company also appointed Christine Williams as Head of Global Client and Broker Relationships, effective September 1, 2026.
MSC Industrial (MSM) reported quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.28 per share, compared to $1.08 per share a year ago. The company also reported revenues of $1.05 billion, representing a 7.8% year-over-year increase. The stock price rose 3.69% to $123.34, hitting a new 52-week high.
On July 1, Micron Technology and General Motors signed a Strategic Customer Agreement to secure a long-term supply of memory and storage platforms for vehicle production. On July 6, Micron and Ford announced a long-term supply agreement for automotive memory chips. On July 9, Micron Technology announced plans to invest up to $3 billion to strengthen the U.S. semiconductor supply-chain ecosystem.
On July 1, the US DOE approved the Documented Safety Analysis for Oklo's Groves Isotope Test Reactor, boosting the stock. On July 3, Oklo received approval from the U.S. Department of Energy for the Safety Analysis Report for its Groves Isotope Test Reactor. On July 6, BWX Technologies completed the acquisition of Precision Components Group (PCG) and its subsidiaries PCC and DCF, aiming to expand BWXT's heavy-manufacturing footprint and U.S.-made nuclear component delivery capabilities.
Bank of America is expected to report Q2 earnings on July 14, with analysts projecting EPS of $1.10 and revenue of $30.26 billion. BAC stock fell 1.6% on Tuesday ahead of the announcement. The SEC fined BAC subsidiary Merrill Lynch $7.5 million for delayed suspicious activity reporting. BAC's projected losses in the Federal Reserve's stress test are considered modest relative to its $3 trillion in market assets.
The S&P 500 and Nasdaq finished Q2 2026 with their biggest quarterly gains since 2020, as investor optimism about economic and earnings growth persisted despite the Middle East conflict. The S&P 500 recorded its best quarterly performance since 2020 following a recovery in recent weeks. Investors returned to growth stocks amid optimism regarding peace negotiations in Iran and strong corporate earnings. The S&P 500 index finished the week up 1.7%, marking its best weekly performance in two months.
On July 1, SeekingAlpha published the Q2 2026 earnings call transcript for Progress Software.
On July 1, Allison Transmission was announced to be added to the S&P MidCap 400 index, leading to a rise in its shares. On July 2, Genuine Parts shares surged 13% following a report that O'Reilly Automotive submitted a cash bid for its auto-parts division, which could value the division at $10 billion or more. On the same day, O'Reilly Automotive's stock declined by 4.4% following the news of the bid. On July 7, Trimble shares gained following reports that the company is looking to sell its transportation and logistics unit.
US stock indices closed the first half of the year at record highs, with the Dow Jones Industrial Average rising by 116.17 points to 52,298.91. The S&P 500 gained 0.75% to 7,498.38, and the Nasdaq Composite climbed 1.45% to 26,194.76. Tech stocks like Nvidia, AMD, and Intel saw significant gains, with the VanEck Semiconductor ETF rising 3% on the day, leading to over 81% gains in H1 2026.
Vasu Jakkal, Microsoft's corporate vice president of security, compliance, identity, management, and privacy, is departing the company after six years. Jakkal helped build Microsoft's $20 billion security business. On July 6, Microsoft announced layoffs of 4,800 employees following a voluntary retirement program, and the Xbox video game unit is cutting one-fifth of its staff, with four studios set to go independent.
The S&P 500 and Nasdaq rose by 0.79% and 1.52% respectively on June 30, marking their best quarterly performance since 2020. On July 2, the Canadian TSX index edged higher following the release of U.S. jobs data. As of July 4, the S&P 500 index is up 9.3% year-to-date, with small and micro-cap stocks outperforming large-cap stocks. The technology sector leads performance driven by AI, while Communication Services lag.
On June 30, Glancy Prongay Wolke & Rotter LLP reminded investors that the lead plaintiff deadline in the securities fraud lawsuit against PicS N.V. is August 4, 2026. On July 2, Hagens Berman began investigating a shareholder class action alleging that PicS N.V. omitted material facts in its January 2026 IPO documents. On July 3, Hagens Berman continued to investigate claims that PicS N.V.'s IPO documents contained misrepresentations and omissions regarding credit procedures.
On June 30, Cosmos Health Inc. (NASDAQ:COSM) announced that its Board of Directors authorized a share repurchase program of up to $5 million of its common stock. On July 2, the company announced the repurchase of an additional 770,000 shares. On July 6, Cosmos Health repurchased an additional 220,000 shares of common stock in the open market at an average price of $0.2229 per share. The company has now repurchased a total of 3,640,000 shares for approximately $700,000 under its $5 million authorized program.
TD Cowen cut its price target for MicroStrategy (MSTR) to $260 from $400 after lowering its year-end 2026 Bitcoin forecast to $100,000. On July 4, investor Tim Draper denied links to a wallet that transferred 1,000 BTC to Coinbase Prime and reiterated his bullish prediction for Bitcoin to reach a price of $250,000. On July 6, MicroStrategy lost approximately 17% of its Bitcoin sale capacity due to its new cryptocurrency accumulation playbook.
Lemonade renewed its reinsurance program effective July 1, 2026, on improved terms, lowering its ceded premium rate to 18%. Separately, Roadzen signed a definitive agreement to acquire a leading European MGA focused on short-term car rental insurance. This acquisition is projected to add $18–20 million in revenue and approximately $1.6–2 million in EBITDA.
TD Cowen cut the price target for Strategy (MSTR) stock to $260 from $400 while maintaining a Buy rating. On the same day, Strategy unveiled a new framework to monetize part of its Bitcoin treasury, driving the stock up over 12%. On July 6, Cantor Fitzgerald stated that bringing MicroStrategy's preferred shares back to their $100 par value is key to restarting the company's capital engine. Strategy also sold 3,588 Bitcoins for approximately $216 million to support preferred stock obligations and strengthen cash reserves under the new treasury framework.
The Phase 3 EPCORE DLBCL-4 trial showed that the epcoritamab combination reduced the risk of disease progression by up to 60% in relapsed/refractory DLBCL. Genmab announced positive Phase 3 results for epcoritamab plus lenalidomide, demonstrating a statistically significant improvement in progression-free survival. AbbVie also announced a Phase 3 victory for epcoritamab in relapsed/refractory DLBCL, meeting its primary endpoint.
