Halfway there

Markets reach the halfway point of 2026 with a packed and shortened week, with the June payrolls report moved to Thursday ahead of the July 4 holiday. Chip stocks are sitting on their best quarter on record, but profit-taking, a possible OpenAI IPO delay, and a fresh warning from the Bank for International Settlements about the durability of the AI boom are giving investors pause. Oil markets shrug off a weekend U.S.-Iran exchange after both sides agree to resume talks, and Andy Burnham prepares to make his first major economic address as the UK's widely presumed prime minister-in-waiting. Today’s recommended read: Hormuz oil exodus sets stage for chaotic rebalancing act, Ron Bousso Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Read more from Amanda Cooper and Anna Szymanski Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles. Learn more about your ad choices. Visit megaphone.fm/adchoices