📊 Weekly Market Scoreboard

Week ending July 03, 2026

🏢 Sector Heatmap

🔎 The Week That Was

Wall Street closed out the holiday-shortened week on solid footing, with the S&P 500 finishing at 7,483.24 — up 1.76% — and the Nasdaq leading the charge with a 2.12% gain. The Dow crossed 52,900 for good measure. Not a bad way to spend your Fourth of July week.

The real story, though, was the sector rotation playing out under the surface. Financials topped every other sector with a 3.83% gain, followed by Communication Services at +3.22% and Consumer Discretionary at +2.40%. That's money moving into cyclicals and rate-sensitive names — a signal that investors are feeling incrementally better about the economic backdrop.

Meanwhile, the sectors you'd expect to lead a tech-driven rally were conspicuously absent from the party. Technology finished the week down 0.29%, Energy slid 1.15%, and Real Estate dropped 1.24%. The Russell 2000's -0.46% dip also stands out — small caps didn't participate, which is worth watching if you're hoping this rally broadens out.

When markets reopen Monday, the key question is whether the rotation into Financials and Communication holds, or whether Tech finds its footing again after a rough week for semiconductor names. With PepsiCo reporting Thursday and global macro developments still percolating, there's plenty of kindling heading into the new trading week.

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🟢 Top 5 Winners

🔴 Top 5 Losers

📈 What Drove the Moves

Rivian was the week's undisputed standout, surging 19.19% to close at $18.63. The catalyst? Tesla's highly publicized robotaxi launch in Miami almost certainly put a spotlight on the broader EV and autonomous vehicle space, lifting Rivian on rising sentiment that the sector's competitive landscape is becoming more real — and more valuable. Roblox wasn't far behind at +16.51% ($55.41), benefiting from the ongoing Communication Services surge and renewed investor appetite for platforms with young, sticky user bases.

Palantir (+14.50% to $129.30) and the cybersecurity duo of Palo Alto Networks (+14.42% to $348.06) and Zscaler (+11.39% to $147.33) tell a coherent story: enterprise AI and security spending remains a priority, even as broader tech sold off. These names are increasingly viewed as infrastructure plays rather than pure growth bets, and that framing is working in their favor.

On the losing side, the semiconductor complex took a beating. Micron dropped 13.84% to $975.56, SMCI fell 11.13% to $27.22, and Marvell slid 8.05% to $245.29. Intel and Oracle also found themselves in the red, down 6.21% and 5.56% respectively. Foxconn's 40% year-over-year revenue jump — which should theoretically be good news for chipmakers — didn't provide much cover, suggesting the market may be pricing in demand concerns or margin pressure deeper in the supply chain. When the semis sell off together like this, it usually means something more than noise.

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📅 Earnings: Week Ahead

🔭 What to Watch This Week

The earnings calendar is light this week, but the one name you need to circle is PepsiCo, reporting Thursday, July 9th, with Wall Street expecting earnings of $2.19 per share. Pepsi has become a reliable barometer for consumer health — not just what people are buying at the checkout line, but how much pricing power consumer staples companies still have in a world where shoppers are increasingly hunting for value.

Consumer Staples finished the week up just 0.33%, lagging most of the market, which reflects the broader tension in that sector: defensive names are less exciting when investors feel good about risk, but any guidance cut from Pepsi could quickly rattle sentiment. Watch for commentary on volume trends versus price-driven growth — if volumes are still soft, that tells you the consumer is still stretching.

Beyond Pepsi, keep an eye on the macro tape heading into the week. OPEC output rising in June adds a new wrinkle for Energy, which was already the second-worst performer last week at -1.15%. More supply in the pipeline puts downward pressure on crude, and that could continue weighing on energy names when trading resumes Monday morning.

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