In June, the three major U.S. equity indices diverged. Against a backdrop of market concerns that the Federal Reserve might adopt a more hawkish stance, $S&P 500 Index (.SPX.US)$、 $Nasdaq Composite Index (.IXIC.US)$markets fluctuated downward this month; however, sentiment improved as geopolitical risks eased following the U.S.-Iran ceasefire memorandum of understanding.$Dow Jones Industrial Average (.DJI.US)$ The Nasdaq Composite hit multiple all-time highs in June. As of yesterday’s close, the Nasdaq and S&P 500 declined by approximately 6% and 3%, respectively, while the Dow Jones Industrial Average rose nearly 2%.
Looking ahead to July, the next U.S. earnings season will kick off. Wall Street giants such as Goldman Sachs, Citi, and JPMorgan will report first on the 14th. Tech earnings will follow shortly thereafter, with ASML Holding and Taiwan Semiconductor scheduled to release results in mid-July, and star tech names like Tesla, Google, and Apple expected to report later in the month.
Against the backdrop of a hawkish shift in the Fed’s dot plot and rising expectations for rate hikes within the year, the Federal Reserve’s actions in July will draw significant market attention: the minutes from the June FOMC meeting will be released on the 9th at 2:00 a.m. Beijing time; Fed Chair Kevin Warsh will testify before Congress on the 14th; and the July FOMC meeting will take place at month-end.
Additionally, key events to watch in July include SK Hynix’s planned Nasdaq listing and Advanced Micro Devices’ Advancing AI event for 2026.
To help fellow investors better grasp market themes and investment opportunities, Futubull has carefully compiled a list of essential U.S. financial events for July—bookmark it before reading!
Fed Chair Kevin Warsh will testify before Congress on the 14th, and the July FOMC meeting will be held at month-end.
At 2:00 a.m. Beijing time on July 9, the Federal Reserve will release the minutes from its June monetary policy meeting.
According to a hearing notice issued by the U.S. House Committee on Financial Services, Federal Reserve Chair Kevin Warsh will deliver his first semiannual monetary policy testimony before Congress at 10:00 a.m. Eastern Time on July 14 (10:00 p.m. Beijing time). By law, the U.S. central bank chief must testify before Congress twice a year—in February and July.
At 2:00 a.m. Beijing time on July 30, the Federal Open Market Committee (FOMC) will release its interest rate decision and Summary of Economic Projections; at 2:30 a.m., Fed Chair Kevin Warsh will hold his first post-meeting press conference since assuming leadership of the Federal Reserve.
Last week, Kevin Warsh chaired his first FOMC meeting as Federal Reserve Chair. The relatively hawkish statement from this meeting, coupled with Warsh’s strong reaffirmation of the inflation target during his press conference, reinforced market expectations for an interest rate hike this year. Warsh noted that inflation has remained above the Fed’s target for five consecutive years and described persistently high prices as a significant burden for households. The dot plot signaled a hawkish shift, with nearly half of Fed officials projecting at least one more rate hike by year-end.
Major Wall Street banks have revised their forecasts for the Fed’s rate path, with institutions such as Deutsche Bank and Bank of America predicting the Fed could begin raising rates as early as September. According to the latest data from CME Group’s 'FedWatch Tool,' the probability of a rate hike at the Fed’s July meeting has risen to 34%, up from nearly zero prior to last week’s FOMC decision.
Amid rising rate hike expectations, nonfarm payroll and inflation data are keeping markets on edge.
Employment data will set the tone for markets early in July. On Wednesday, July 1, at 8:15 p.m. ET, the U.S. ADP private-sector employment report for June—often referred to as the 'small nonfarm payroll'—will be released. This will be followed on Thursday, July 2, at 8:30 p.m. ET by the highly anticipated U.S. nonfarm payrolls and unemployment rate for June, which are critical for assessing the current state of the U.S. labor market.
On the inflation front, the key U.S. Consumer Price Index (CPI) for June will be released on Monday, July 14, at 8:30 p.m. ET; the Producer Price Index (PPI) for June will follow on Tuesday, July 15; and on July 30, the U.S. Personal Consumption Expenditures (PCE) price index for June—the Fed’s preferred inflation gauge—will be published. These inflation indicators will directly influence market pricing of future Fed policy actions.
A new earnings season for U.S. equities is underway, with major Wall Street banks reporting first, followed closely by technology stocks.
July 14,$Goldman Sachs (GS.US)$ 、 $Citigroup (C.US)$ 、 $JPMorgan (JPM.US)$ 、 $Bank of America (BAC.US)$As financial giants release their earnings reports first, the latest earnings season in U.S. stocks will officially kick off. Serving as a barometer of the broader economy, these major banks' financial results and forward guidance will set the tone for the entire reporting season.
Following closely are earnings reports from technology stocks, with the chip-equipment giant…$ASML Holding (ASML.US)$ The streaming giant will release its earnings before the U.S. market opens on July 15.$Netflix (NFLX.US)$ will announce its results after the U.S. market closes on July 16.
The semiconductor manufacturing giant$Taiwan Semiconductor (TSM.US)$ is expected to report in mid-July,$Tesla (TSLA.US)$ 、 $Alphabet-A (GOOGL.US)$ 、 $Meta Platforms (META.US)$ 、 $Microsoft (MSFT.US)$ 、 $Apple (AAPL.US)$ and other prominent tech stocks are expected to release their earnings in late July. The company that went public this month$SpaceX (SPCX.US)$ is also expected to release its first post-IPO earnings report in July.
Memory chip giant SK Hynix plans to list on Nasdaq on July 10.
According to regulatory filings, memory chip giant$SK Hynix (000660.KR)$ plans to list on Nasdaq through an offering of 17.79 million new American Depositary Shares (ADSs). The offering could raise KRW 45.45 trillion (approximately USD 29.6 billion). With a conversion ratio of one ordinary share to ten ADSs, the ADSs are expected to begin trading on July 10.
The market's primary focus right now is whether the company, by choosing the Nasdaq over the New York Stock Exchange, can use this move to gain a foothold in…$NASDAQ 100 Index (.NDX.US)$ . The Nasdaq-100 undergoes its annual constituent review each December on the third Friday, based on data as of the end of November. Analysts noted that SK Hynix did not initially meet the criteria for expedited inclusion under special provisions but is expected to be added relatively smoothly through the year-end regular rebalancing. $PHLX Semiconductor Index (.SOX.US)$ entry into
Additionally, investors have been intensively asking brokers about an unresolved core issue: whether the American Depositary Receipts (ADRs) of this South Korean memory chip giant can be freely converted into its ordinary shares listed in Seoul. Full convertibility would allow investors to switch freely between the two securities, keeping their prices closely aligned; conversely, any restrictions could result in a persistent premium for the U.S.-listed security, given sustained strong global demand for AI-related stocks.
AMD Hosts 'Advancing AI 2026' Conference
$Advanced Micro Devices (AMD.US)$ has announced that its flagship global AI conference, 'Advancing AI 2026,' will be held both in person and via live stream at the Moscone Center in San Francisco on July 22–23. The event will present AMD’s vision for building, deploying, and scaling AI within an open ecosystem.
AMD Chair and CEO Lisa Su, alongside other AMD executives, will join forces with AI ecosystem partners, customers, and developers to explore how AMD’s end-to-end AI solutions—from silicon to software—are reshaping the landscape of artificial intelligence and high-performance computing.
Important Reminder: U.S. Markets Closed on July 3
U.S. stock markets will be closed on Friday, July 3, in observance of Independence Day. Fellow investors are advised to arrange their trading funds accordingly in advance.
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