• Market recap: The Dow plunged 577 points yesterday, with Home Depot (HD) and Booking Holdings (BKNG) down 3-4%. Marathon Petroleum (MPC) gained 5%, with other oil companies performing well, too. Source: CNBC.
• SpaceX slumps below $150: SpaceX (SPCX) closed at $148, under its $150 debut price for a 2nd straight session despite joining the Nasdaq-100. Analysts remain largely bullish on its long-term growth. Source: CNBC.
• Micron bolsters supply chain: Micron (MU) plans to invest up to $3B to strengthen the U.S. semiconductor supply chain, sending shares soaring 6% premarket. Source: Reuters.
• Pepsi's mixed bag: Pepsi (PEP) beat Q2 revenue estimates on strong demand for zero-sugar drinks and maintained its full-year outlook. Still, the company underperformed on EPS, hitting $2.20 vs. $2.21 expected, and said tighter consumer budgets continue to pressure North American sales. Shares fell 1% premarket. Source: CNBC.
• Levi raises outlook: Levi Strauss (LEVI) raised full-year revenue and earnings guidance after strong Q2 results, with revenue up 8% YoY. Shares fell 6% premarket after its EPS outlook narrowly missed lofty expectations. Source: WSJ.
• AstraZeneca trial disappoints: AstraZeneca (AZN) plunged 9% premarket after a heart drug failed a late-stage trial, reducing hopes for a major label expansion and raising concerns about the company’s pipeline credibility. Source: Bloomberg.
• Meta updates: Meta (META) is reportedly developing AI smart glasses that could continuously capture audio and images for AI queries. Separately, the tech giant is investing more than $9.1B to build its first AI data center in Canada, which will be its largest outside the U.S. Shares fell 2%. Sources: FT / The Verge / AP.
• World Cup lifts Google Search: World Cup matches drove Google Search (GOOGL) to a record high in queries per second after Argentina’s late win over Egypt, underscoring the platform’s enduring scale amid growing AI search competition. Source: CNBC.
• SK Hynix IPO demand surges: Korean chipmaker SK Hynix’s (SKHY) planned U.S. offering is more than 7 times oversubscribed, suggesting strong investor demand despite recent chip-stock volatility. The deal could raise about $24.5B. Source: Bloomberg.
• Honeywell Aero targets overseas markets: Honeywell Aerospace (HONA) is planning more defense products for European and Asia-Pacific countries that don't rely on restricted American tech. Shares fell 5.8% yesterday but rose 1.4% premarket. Source: Reuters.

• Deere permits repair access: John Deere (DE) agreed to an FTC settlement requiring it to provide diagnostic and repair tools to equipment owners and independent shops, resolving right-to-repair claims and ending restrictions that favored authorized dealers. Shares fell 1%. Source: AP.
• OpenAI gets green light: In a victory for OpenAI, the Trump admin. permitted a broad public launch of the company's new, advanced GPT-5.6 models. The models launch today. Sources: Axios / CNBC.
• Kalshi eyes more perpetual futures: Prediction platform Kalshi is in advanced talks with regulators to expand perpetual futures beyond crypto into gold, foreign exchange, energy and other assets, intensifying competition with established exchanges. Source: Reuters.
• Airbnb buys NYC office: Airbnb (ABNB) bought its first NYC office building for $81.5M despite continuing to oppose the city's strict short-term rental rules. Shares fell 4%. Source: WSJ.
• Musk's SEC settlement approved: A judge greenlit the SEC’s settlement with Elon Musk over delayed Twitter stake disclosures, despite questioning whether regulators held him sufficiently accountable. The deal requires a $1.5M payment. Twitter, now known as X, is a part of SpaceX (SPCX). Source: Reuters.

• Delta adds 'basic' business: Delta (DAL) is launching lower-priced business and first-class fares without lounge access or seat selection, expanding fare segmentation to capture more premium travel demand. Shares fell 1.5%. Source: CNBC.
• Fiat launches low-cost EV: Stellantis (STLA) opened U.S. orders for an electric quadricycle made by Fiat, though shares fell 1.5% premarket and are down 50% YTD. Source: CNBC.

• AI fuels SF housing surge: San Francisco's AI boom is driving fierce home bidding, with more than 140 properties selling for over $1M above asking price in H1 2026. Prices for median single-family homes have vaulted 22% YoY. Sources: The Guardian / WSJ.
• FOMC minutes signal inflation concerns: Fed minutes indicate that policymakers have grown more concerned about persistent inflation, with most prepared to raise rates if price pressures fail to ease. Source: Reuters.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 215,000 for the week ending July 4, down 2,000 WoW. The 4-week moving average was 218,750, down 3,750 WoW. Source: Dept. of Labor.
• Chinese PPI hits 4-year high: China’s consumer prices rose 1.0% YoY in June, below forecasts and slower than May, while producer prices increased 4.1% — the fastest uptick since 2022. Source: CNBC.

• U.S.-Iran attacks escalate: The U.S. struck 90 Iranian military targets yesterday after President Trump declared the ceasefire over. Iran responded with attacks on Kuwait and Bahrain. Source: WSJ.
• White House backs Ukrainian Patriot production: President Trump said the U.S. will license Ukraine to manufacture Patriot missile interceptors. The move could strengthen Ukraine’s long-term air defenses, though near-term interceptor shortages remain. Source: Reuters.
• Western Europe sets June heat record: Western Europe recorded its hottest June on record, with temperatures 3.05°C above normal. Deaths tied to the heat wave hit 2,700 in France and 5,000 in Germany. Sources: NY Times / Reuters.
• Left-wing Dem ends campaign: Progressive Democrat Graham Platner of Maine suspended his Senate campaign after a sexual assault allegation. Platner denied wrongdoing. Maine's Democratic Party will now choose a replacement candidate. Source: BBC.
• Trump ordered to shell out to Carroll: A federal judge mandated the release of $5.8M to the writer E. Jean Carroll in a sexual assault case against President Trump. Trump appealed, but an emergency bid to block the payment was denied. Source: AP.
• NYC high-rise stabilized: NYC officials said that temporary supports have stabilized a Manhattan building at risk of collapse. The high-rise — which was undergoing an office-to-apartment conversion — and surrounding area were evacuated earlier this week with no injuries. Sources: NY Times / CNN.

• 8:30 AM: Initial Jobless Claims
• 10:00 AM: Existing Home Sales & Existing Home Sales MoM

PepsiCo (PEP) has released its quarterly earnings.

• Revenue of $24.18B (+6.40% YoY) beats by $241.42M.
• EPS of $2.20 (+3.77% YoY) misses by $0.01.
• Financials · As Reported · Metrics · Press Release

Levi Strauss & Co. (LEVI) has released its quarterly earnings.

• Revenue of $1.56B (+8.02% YoY) beats by $42.43M.
• EPS of $0.28 (+27.27% YoY) beats by $0.04.
• Financials · As Reported · Metrics · Press Release

PriceSmart (PSMT) has released its quarterly earnings.

• Revenue of $1.48B (+12.50% YoY) beats by $29.08M.
• EPS of $1.28 (+12.28% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

AZZ Inc. (AZZ) has released its quarterly earnings.

• Revenue of $448.53M (+6.29% YoY) beats by $13.80M.
• EPS of $1.85 (+3.93% YoY) beats by $0.17.
• Financials · As Reported · Metrics · Press Release

Delta Air Lines (DAL) will report tomorrow before market open.

• Analysts estimate revenue of $18.57B (+11.55% YoY).
• EPS is estimated to be $1.47 (-30.00% YoY).
• Financials · As Reported · Metrics

JPMorgan Chase (JPM) will report Tuesday.

• Analysts estimate revenue of $49.39B (+8.13% YoY).
• EPS is estimated to be $5.59 (+12.70% YoY).
• Financials · As Reported · Metrics

Fastenal Company (FAST) will report Tuesday.

• Analysts estimate revenue of $2.33B (+12.24% YoY).
• EPS is estimated to be $0.33 (+13.79% YoY).
• Financials · As Reported · Metrics

Bank of America (BAC) will report Tuesday.

• Analysts estimate revenue of $30.32B (+14.59% YoY).
• EPS is estimated to be $1.11 (+24.72% YoY).
• Financials · As Reported · Metrics

Telefonaktiebolaget LM Ericsson (ERIC) will report Tuesday.

• Analysts estimate revenue of $5.84B (+0.66% YoY).
• EPS is estimated to be $0.13 (-7.14% YoY).
• Financials · As Reported · Metrics

PNC Financial (PNC) will report Wednesday.

• Analysts estimate revenue of $6.40B (+13.04% YoY).
• EPS is estimated to be $4.43 (+15.06% YoY).
• Financials · As Reported · Metrics

Elevance Health (ELV) will report Wednesday.

• Analysts estimate revenue of $48.59B (-1.68% YoY).
• EPS is estimated to be $6.20 (-29.86% YoY).
• Financials · As Reported · Metrics

Kinder Morgan (KMI) will report Wednesday.

• Analysts estimate revenue of $4.24B (+4.87% YoY).
• EPS is estimated to be $0.31 (+10.71% YoY).
• Financials · As Reported · Metrics

Cintas (CTAS) will report Wednesday.

• Analysts estimate revenue of $2.87B (+7.77% YoY).
• EPS is estimated to be $1.23 (+12.84% YoY).
• Financials · As Reported · Metrics

ASML Holding (ASML) will report Wednesday.

• Analysts estimate revenue of $10.28B (+17.87% YoY).
• EPS is estimated to be $7.98 (+19.28% YoY).
• Financials · As Reported · Metrics

Johnson & Johnson (JNJ) will report Wednesday.

• Analysts estimate revenue of $25.05B (+5.50% YoY).
• EPS is estimated to be $2.85 (+2.89% YoY).
• Financials · As Reported · Metrics

United Airlines Holdings (UAL) will report Wednesday.

• Analysts estimate revenue of $17.58B (+15.40% YoY).
• EPS is estimated to be $1.81 (-53.23% YoY).
• Financials · As Reported · Metrics

Morgan Stanley (MS) will report Wednesday.

• Analysts estimate revenue of $19.28B (+14.80% YoY).
• EPS is estimated to be $2.81 (+31.92% YoY).
• Financials · As Reported · Metrics

M&T Bank (MTB) will report Wednesday.

• Analysts estimate revenue of $2.47B (+2.89% YoY).
• EPS is estimated to be $4.67 (+9.11% YoY).
• Financials · As Reported · Metrics

• Estimated Friday, July 10: Tarsier Pharma Ltd. (TARX), a late clinical-stage biopharma firm focused on eye conditions.
• Estimated Friday, July 10: SK hynix Inc. (SKHY), a large South Korean memory semiconductor company with $86.70B in TTM revenue and 46.76% revenue growth YoY.