Track the evolution of major financial and economic events
Japan spent $74 billion propping up the yen, which hit a 40-year low. Investors noted that intervention alone is insufficient due to wide U.S.-Japan rate differentials. Finance Minister Satsuki Katayama stated Tokyo's readiness to respond appropriately to disorderly currency moves, confirming close coordination with Washington. The yen steadied at 161.2 per dollar after recovering from a low of 162.84. Bankruptcies linked to the weak yen rose 32.3% in the first half of the year, totaling 45 cases.
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.
On June 30, Donald Trump's financial disclosure revealed over $1 billion in income from cryptocurrency deals, along with large sums from licensing and legal settlements. On July 8, AI Financial, the company behind the Trump family's crypto wealth, was in talks to sell its core business. The company had channeled more than $500 million to the Trumps prior to this abrupt reversal.
KKR announced the acquisition of EDF's North American power solutions operations for $4.2 billion. The deal may include additional payments of up to $390 million based on certain performance conditions. EDF's power solutions unit is currently ranked among the top 10 renewable capacity owners in the United States.
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, nearly 1,700 UK users alleged that Binance offered risky crypto products without regulatory approval. On July 1, these investors filed a lawsuit against Binance and founder Changpeng Zhao in the London High Court over claims of unauthorized crypto derivatives sales. On July 7, Binance launched a new product called BTC Yield using a covered call strategy to enhance returns for holders.
Oil is set for its largest quarterly price drop in 6 years, as workarounds for the Strait of Hormuz chokepoint and a drop in crude imports to China ease the historic supply crunch. U.S. oil companies are expected to report their strongest quarterly profits in years. President Trump has been pressing oil companies to lower gasoline prices ahead of the November midterm elections.
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.
On June 30, Ripple launched the XRPL Lending Protocol to provide institutional on-chain credit on the XRP Ledger. On July 2, Ripple highlighted 8 key developments for its RLUSD stablecoin spanning payments, infrastructure, and global access. The stablecoin is gaining support from Mastercard and has received regulatory approvals in Japan.
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.
On June 30, Strategy raised its dividend to 12% and authorized $2 billion in share buybacks. The new capital framework formally permits selling bitcoin at scale to fund company obligations for the first time. On July 6, MicroStrategy sold 3,588 bitcoin for $216 million to cover dividend payments on its preferred stock. The company's total bitcoin reserve stood at 843,775 BTC as of July 5, 2026, while it reported a Q2 digital asset loss of $8.3 billion.
China's purchasing managers' index rose slightly above pessimistic expectations on June 30, but it does not indicate a major turnaround in June, and a second-quarter slowdown remains likely. Sluggish domestic demand could prompt additional policy support, with markets focusing on the July Politburo meeting. The China PMI data improved, boosting Asian stocks. China's manufacturing PMI came in at 51.7 in June, easing from the prior reading but beating analyst expectations. The reading caps the strongest quarterly performance for the index since 2020.
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.
On June 29, Rocket Lab announced its acquisition of Iridium for $54 per share in a cash-and-stock deal. On July 3, Rocket Lab revealed an $8 billion acquisition of Iridium to transform into a vertically integrated space infrastructure provider. On July 4, Rocket Lab announced its plan to acquire the satellite manufacturer Iridium, aiming to help Rocket Lab keep pace with SpaceX in the nascent space market.
Kalshi traders anticipate less than a 60% chance that job growth in June will exceed 100,000. The Dow Jones consensus expects a sharp decline in job growth from 172,000 in May to June. Goldman Sachs estimates that the June jobs report could be boosted by approximately 40,000 positions due to the impact of the World Cup. The bank based its estimates on Homebase data suggesting a modest hiring increase linked to the global sporting event.
On June 29, BNY Mellon, the world's largest custody bank, announced the addition of USDC custody and minting services. On July 1, the bank launched new capabilities allowing institutional clients to work with stablecoins, starting with Circle's USDC.
On June 29, BlackRock integrated with Ethena, allowing clients of the Aladdin platform access to Ethena's yield-generating tokens and liquidity facilities for BlackRock's tokenized products. On July 1, the U.S. Treasury announced that two BlackRock iShares ETFs would be offered as investment options under Trump Accounts, aimed at helping American children build wealth from birth. On the same day, Larry Fink expressed BlackRock's pride in supporting Trump Accounts. On July 8, BlackRock launched the iShares Nasdaq 100 ETF to provide cost-efficient access to innovation-driven companies.
