The Nasdaq rose 0.81% while the 10-year yield fell to 4.47%. Cheaper borrowing costs keep lifting growth stocks — the market is still betting rate cuts are coming.
Strategy sold $216 million in Bitcoin, cutting short last week's rebound. When the biggest corporate holder sells, it reminds everyone how quickly crypto momentum can reverse.
The June FOMC minutes drop July 8 — the first under new Chair Kevin Warsh. Any hint of caution on cuts could rattle the tech rally fast.
Wall Street opened the week in a good mood. The S&P 500 rose 0.49% to a fresh 7,519, the Nasdaq led with a 0.81% gain, and the 10-year Treasury yield slipped to 4.47%. Falling yields mean borrowing gets cheaper, which flatters tech and growth stocks — hence the Nasdaq's lead. Europe leaned red across the board, and Hong Kong jumped 1.14%. The story here is calm: no drama, steady buying, and a bond market quietly betting rates ease from here.
The risk is that this calm is fragile. JPMorgan is warning of a summer swoon, and they have a point — markets are near record highs on thin summer volume, which makes any surprise hit harder. This week brings JOLTS, ISM services, and the June Fed minutes under new Chair Kevin Warsh. If those minutes read more cautious than traders expect, the rate-cut hopes propping up tech could wobble fast. Priced-for-perfection markets don't like being told to wait.
Treasury Wine Estates, the company behind Penfolds, is selling off one of its Australian vineyards. It's a small deal, but it signals that even big drinks makers are trimming assets as younger drinkers buy less wine. If you own a consumer-goods fund, this is the kind of slow demand shift that eats into brands you thought were bulletproof.
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