Week Ending 6/26/2026

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MARKET RECAP

US stock markets posted a mixed performance over the trading week ending June 26, 2026. The S&P 500 fell 1.95% from its June 18 close of 7,500.58 to finish at 7,354.02. The Dow Jones Industrial Average gained 0.60%, advancing from 51,564.70 to 51,876.11. The Nasdaq Composite declined 4.60% from 26,517.93 to 25,297.62, pressured by weakness in major technology names.

International equities, as measured by the VXUS ETF, declined 2.64%. The fund closed at 84.48 on June 26 after trading at 86.77 on June 18.In the bond market, the 10-year Treasury yield eased 8 basis points over the period. It moved from 4.46% on June 18 to 4.38% on June 26, reflecting modest improvement in fixed-income sentiment amid the equity pullback.
Bitcoin ended the week near $59,800 while gold traded around $4,080–$4,090 per ounce, both lower than the prior week’s levels. Overall, the week featured notable weakness in U.S. large-cap growth stocks and international equities, with bonds benefiting from lower yields and commodities showing continued softness.
THE FIVE BULLET BRIEF

  • Total vs. Core PCE: Monthly Personal Consumption Expenditures (PCE) came in slightly below consensus forecasts with total prices up 0.4% MoM. However, Core PCE (excluding food and energy) rose by 0.32% unrounded, translating to an annualized monthly jump of 3.9%.

  • Economic Growth Upgraded: In its final revision, Q1 GDP growth was adjusted upward by 0.5 percentage points to a final annualized rate of 2.1%. This adjustment occurred despite a 0.6 percentage point downward revision to core services consumption, which was entirely offset by a sharp decline in nominal and real goods imports.

  • Income & Spending Surge: Both monthly personal income and consumer spending expanded by 0.7% MoM, coming in ahead of consensus expectations. The personal savings rate held steady at 3.0% following upward adjustments to prior metrics.

  • Corporate Hardware Hikes: Driven by compounding memory hardware and component expenses, Apple announced sweeping 20% price increases across its iPad and Mac segments—with certain products like the Mac Studio rising up to 32.5%. 

  • Record Issuance: The primary US corporate bond market recorded a massive $30 billion single-day session, pushing year-to-date issuance past $1.2 trillion. This trajectory puts 2026 on track for a record-shattering $2.2 trillion in total annual volume. Huge infrastructure funding deals include mega-issues from Amazon ($37 billion), Meta ($30 billion), and a recent $25 billion investment-grade corporate bond package from SpaceX.

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