Wall Street closed higher Thursday with the Nasdaq bouncing 1.3% as semiconductor strength powered a comeback despite escalating U.S.-Iran tensions. The S&P 500 and Dow also posted solid gains as oil pulled back from its spike, though Treasury yields remained elevated amid inflation concerns.
→ Friday earnings: PepsiCo reports Q2 results Thursday; Delta Air Lines earnings Friday—both crucial reads on consumer spending and fuel costs amid inflation pressures.
→ Inflation data ahead: June CPI on July 14 becomes critical for Fed rate-hike expectations, especially as oil spike raises energy-driven inflation risks for remainder of 2026.
→ Iran oil deadline: U.S. Treasury's July 17 wind-down of Iranian oil transactions could reignite energy volatility and reshape inflation and Fed policy outlook.