Morgans AM - Tuesday, 7 July 2026

US equity markets advanced after resuming trading following the Independence Day long weekend, led by a fresh rally for artificial intelligence (AI)-related stocks – Dow added +156-points or +0.29% to 53,055.91, booking its first close above >53,000 and 21st record closing high of 2026. It has been just four trading days since the index first closed above 52,000, marking the fastest 1,000 point milestone on record. Boeing Co (up +3.55%), International Business Machines (IBM) Corp (+3.45%) and Goldman Sachs Group Inc (+3.36%) all rallied over >3%. Amgen Inc (down -2.06%), Home Depot Inc (-2.03%) and Merck & Co Inc (-2.15%) declined over >2%. Microsoft Corp announcing it would cut ~4,800 jobs or ~2.1% of its global workforce.