MARKET WRAPS
STOCKS: Another strong session for technology shares boosted U.S. stocks to end the strongest quarter in years.
TREASURYS: Treasury yields extended their gains to cap another rising quarter as investors sold off bonds amid inflation concerns and uneven progress in Middle-East peace talks.
FOREX: The dollar edged higher as the Japanese yen hit a 40-year low against the greenback.
COMMODITIES: Oil futures gave up earlier gains as the presence of U.S. and Iranian negotiators in Qatar put the focus back on oil flows through the Strait of Hormuz. Gold and silver futures finished the second quarter in retreat.
HEADLINES
Iran's Diverging Priorities Are Jeopardizing U.S. Peace Talks
DOHA, Qatar-A power struggle inside Tehran is threatening U.S.-Iran peace talks, with civilian leaders seeking billions in frozen assets and hardline military officials pressing for control of the Strait of Hormuz, said officials familiar with the negotiations.
Civilian leaders headed by President Masoud Pezeshkian are aiming to free up billions of dollars in frozen funds to bring some relief to the millions of Iranians struggling with the economic aftershocks of the war and the critical damage to its oil industry.
Others have their own ideas, notably the Islamic Revolutionary Guard Corps. The IRGC aims to keep full control of the critical strait no matter what the cost, with an eye toward installing a lucrative toll regime to enrich the country's armed forces and dominate the security map for the entire region. The group has shown its willingness to risk the release of the billions frozen in Qatar by targeting ships exiting the Persian Gulf through a U.S.-backed channel through Oman's waters rather than Iran's.
Ford Recalls More Than 740,000 Vehicles Over Transmission Issue
Ford Motor is recalling more than 740,000 vehicles due to a transmission and parking system issue, federal regulators said.
Some Ford vehicles have transmission defects that could cause them to engage the park function while in motion, potentially damaging the vehicle's parking system, the U.S. National Highway Traffic Safety Administration said in a recall notice. That could lead to the car rolling away while in park.
The recall covers certain Expedition, Navigator, Explorer, Aviator, F-150 models from 2018 to 2021. The recall covers 741,195 vehicles, the National Highway Traffic Safety Administration said.
U.S. Consumer Sentiment Climbed in June, Conference Board Says
Consumer confidence ticked up in June as moderating oil prices provided some relief to American households, a monthly survey from The Conference Board said.
The research group said Tuesday its consumer confidence index rose to 91.2 in June from a downwardly revised 90.6 in May. Economists polled by The Wall Street Journal had expected a higher reading of 94.2.
Consumers' assessment of current business and labor-market conditions fell by three points to 116.4. Meanwhile, the expectations index, based on short-term outlook for income, business and labor market conditions, rose three points to 74.4.
Supreme Court Rejects Trump's Bid to Curtail Birthright Citizenship
WASHINGTON-The Supreme Court on Tuesday struck down President Trump's attempt to curtail birthright citizenship, rejecting an audacious anti-immigration initiative to reinterpret the constitutional principle that almost everyone born on U.S. soil is a citizen.
The decision, written by Chief Justice John Roberts, said the longstanding guarantee of citizenship was deeply rooted in the nation's history, even before it was enshrined in the Constitution in 1868.
"Citizenship, then and now, was the right to have rights-to freely participate in our political community," Roberts wrote. "The Framers of the Fourteenth Amendment extended that promise to every free-born person in this land. We keep that promise today."
USDA Plans to Pay Smaller Meatpackers to Keep Slaughtering Cattle
The Trump administration is prepping a financial lifeline for smaller meatpackers struggling with dwindling cattle supplies, which have sent beef prices surging.
The U.S. Agriculture Department plans to pledge up to $500 million in payments for small- and medium-size meatpacking companies. The money would be distributed to beef plants that keep their processing volumes at a certain level.
"USDA is taking targeted action to preserve the independent processing capacity that ranchers rely on," said Agriculture Secretary Brooke Rollins. The Wall Street Journal earlier reported details of the plan.
U.S. Job Openings and Hires Remained Stable in May
U.S. job openings and hires held steady in May, according to a report from the Labor Department's monthly job openings and labor turnover survey.
Available positions held steady at 7.6 million in May, unchanged from April. Meanwhile, the hiring rate held steady at 3.3% with about 5.2 million Americans landing new jobs in May.
The rate of workers facing layoffs ticked up to 1.1% in May from 1% in April.
Zyn Can Market Itself as Less Harmful Than Cigarettes, FDA Says
U.S. officials are allowing Zyn to market itself as being less harmful than traditional cigarettes, making the product the first nicotine pouch on the market to be granted such a distinction.
The Food and Drug Administration announced that 20 different Zyn nicotine pouches-including flavors ranging from cool mint to cinnamon-can carry language stating that using the pouches instead of smoking cigarettes puts users at a lower risk of mouth cancer, stroke, heart disease, lung cancer, emphysema and chronic bronchitis.
Zyn nicotine pouches, a product of Swedish Match USA which is owned by Philip Morris International, contain no tobacco and are the most popular brand in the U.S. They were granted permission to stay on the market in early 2025, the first pouch to receive the authorization.
Egg Producers Manipulated Market, Keeping Prices High, Say Antitrust Authorities
Shoppers could hardly find eggs in stores early last year, a period when producers said avian flu had decimated the hen population. When eggs were available, they were as expensive as they'd ever been.
It turns out the culprit was at least partly market manipulation, according to antitrust enforcers. Three large egg producers coordinated their bids to an egg exchange-a hub of wholesale egg trading-in order to inflate a benchmark price that influences retail prices, according to the Justice Department and 17 states that investigated the conduct.
Cal-Maine Foods, Hickman's Egg Ranch and Versova agreed to settle the claims by donating more than 50 million eggs to food banks and paying $3.3 million to New York and other states that investigated the alleged misconduct, according to court records. The deal requires court approval.
Invisalign Maker Faces EU Antitrust Probe
The European Union antitrust body said it opened an investigation into U.S. medical-device maker Align Technology to assess whether the company's sales strategy for teeth aligner Invisalign and dental scanners broke competition rules.
The European Commission, the EU's executive arm and antitrust enforcer, said Tuesday that it is concerned Align might have unfairly leveraged the market-leading position of Invisalign to force dentists to purchase the company's second key product, an intra-oral scanner sold under the iTero brand.
Align Technology didn't immediately respond to a request for comment.
TALKING POINT The U.S. Added 1,200 New Millionaires a Day Last Year
America knows how to manufacture millionaires.
Over 440,000 people-or more than 1,200 a day-became millionaires in the U.S. in 2025, accounting for nearly half of the world's new millionaires, according to an annual report on global wealth published Tuesday by UBS.
Here are a few highlights from the report:
The U.S. gains have come thanks in large part to surging financial markets. While UBS includes property values in its calculations, financial assets like stocks and bonds accounted for 79% of gross wealth in the U.S., putting it near the top of the rankings for that metric.
The data also show that the progress hasn't been evenly distributed. While average wealth per U.S. adult climbed by almost 10% between 2020 and 2025 net of inflation, median wealth fell by nearly 20%.
--Miriam Gottfried, The Wall Street Journal
Expected Major Events for Wednesday
00:30/JPN: Jun Japan Manufacturing PMI
05:00/JPN: Jun Consumer Confidence Survey
05:00/JPN: Jun Auto sales
06:00/UK: Jun Nationwide House Price Index
06:00/RUS: Jun Russian Manufacturing PMI
07:45/ITA: Jun Italy Manufacturing PMI
07:50/FRA: Jun France Manufacturing PMI
07:55/GER: Jun Germany Manufacturing PMI
08:00/ITA: 1Q General Government Quarterly Accounts
08:30/UK: Jun S&P Global UK Manufacturing PMI
08:30/UK: Jun Narrow money (Notes & Coin) and reserve balances
09:30/US: Jun Challenger Job-Cut Report
11:00/US: 06/26 MBA Weekly Mortgage Applications Survey
12:15/US: Jun ADP National Employment Report
13:45/US: Jun US Manufacturing PMI
14:00/US: Jun ISM Report On Business Manufacturing PMI
14:00/US: May Construction Spending - Construction Put in Place
14:00/US: May Metropolitan Area Employment and Unemployment
14:30/US: 06/26 EIA Weekly Petroleum Status Report
15:00/US: Jun Global Manufacturing PMI
20:00/US: Jun Domestic Auto Industry Sales
23:50/JPN: Jun Monetary Base
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday
Bassett Furniture Industries Inc $(BSET)$ is expected to report $0.20 for 2Q.
BitMine Immersion Technologies Inc (BMNR) is expected to report for 3Q.
Culp Inc $(CULP)$ is expected to report $0.23 for 4Q.
Factset Research Systems Inc $(FDS)$ is expected to report $3.90 for 3Q.
(MORE TO FOLLOW) Dow Jones Newswires
June 30, 2026 16:33 ET (20:33 GMT)
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