Argus

β€’

Jun 26, 2026

Sector(s)

Basic Materials, Healthcare

Summary

Major stock indices have been dancing around a flat line Friday morning, although as noon approaches there appears to be a bit of move higher underway. Still, a quiet session may not be the worst thing to end a week that has had a downward bias. Week to date, the S&P 500 is off almost 2%, the Nasdaq is off almost 5%, the Dow Jones Industrial Average is essentially flat. Factors in play for investors include the ongoing struggle to decide how to next play the technology/AI trade for stocks like Micron (up 306% year to date) and Nvidia (up a mere 3%). And then there is the issue of interest rates, as January assumptions that one or two rate cuts were likely in 2026 have turned to a belief that no rate cuts are likely and, indeed, a rate hike may be in order. Next up is the war in Iran. Will it ever really 'end,' or will it have a tail that wags forever in the form of a volatile and unpredictable Strait of Hormuz? Those are all tough issues to ponder - and, before you know it, second-quarter earnings reports will be added

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