Review & Preview: Why the Dow Snapped Its Streak

Pretty Meta. One big thing separated the S&P 500 and Nasdaq Composite from the Dow Jones Industrial Average this week: Meta Platforms stock.

The Dow rose 150 points, or 0.3%, on Friday. The S&P 500 rose 0.4%. The Nasdaq rose 1.7%.

For the week, though, the Dow fell 263 points, or 0.5%, while the S&P 500 rose 1.2%, and the Nasdaq rose 1.7%. The Dow snapped a streak of weekly gains at four, while the S&P and Nasdaq rose for a second-straight week.

Alphabet joined the Dow in June, but the index is still missing out on two Magnificent Seven stocks: Meta and Tesla. This was not the week to miss out on Meta; the stock rallied nearly 15%. If the stock had been in the blue-chip index, it would have boosted it by more than 500 points this week.

Of course, missing out on Meta could work in the Dow's favor one day. My colleague Adam Levine writes that investors in the company are ignoring a big legal risk at their own peril, as Meta faces down major lawsuits.

The courtroom of Judge Yvonne Gonzalez Rogers in the U.S. Northern District of California has seen lots of tech trials over the years, but it has probably never seen this: plaintiffs asking for $1 trillion-plus in damages. Until now.

Gonzalez Rogers is overseeing the consolidation of thousands of civil actions against Meta Platforms, home of Facebook and Instagram. One of those actions will come to trial in August. Four states -- California, Colorado, New Jersey, and Kentucky -- are asking the court for $1.4 trillion, almost as large as Meta's entire market value.

Despite this week's pullback, the Dow is actually doing pretty well without Meta and Tesla this year; the index is up 9.5%, compared to Meta's 1.4% rise, and Tesla's 9.3% fall. Go figure.

Watch our TV show on Fox Business Saturday and Sunday at 9:30 and 10:30 a.m. ET. This week, Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, on ways to invest after the midterm elections.

The Hot Stock: Meta Platforms +6.0% The Biggest Loser: Moderna -10.8%

Best Sector: Materials +1.2% Worst Sector: Health Care -0.8%

This Weekend's Magazine

The Calendar

Earnings season begins next week as the big banks report their results. About 30 S&P 500 index companies report results, with more than half from the financial sector.

Bank of America, Citigroup, Goldman Sachs Group, JPMorgan Chase, and Wells Fargo all report on Tuesday, followed by BlackRock, and Morgan Stanley on Wednesday.

Aside from financials, a handful of heavyweights also report quarterly results, including ASML Holding and Johnson & Johnson on Wednesday, and GE Aerospace, Netflix, UnitedHealth Group, and Taiwan Semiconductor Manufacturing on Thursday.

The highlight of this week's economic calendar is the consumer price index, released by the Bureau of Labor Statistics on Tuesday. The BLS also releases the producer price index on Wednesday, while the Census Bureau reports retail sales on Thursday.

-- Dan Lam

What We're Reading Today

   -- How Barron's Roundtable Panelists' 2026 Picks Have Performed So Far 
 
   -- SK Hynix Stock Spikes in U.S. Trading Debut After Opening at $170 
 
   -- Hedging Is Disappearing. It's a Huge Market Risk. 
 
   -- Bank Earnings to Get Wall Street Boost. Can Main Street Keep Up? 
 
   -- And this weekend's cover story: This Stock Market Is Full of Bargains, 
      Our Roundtable Pros Say. 45 Picks for the Second Half. 

Join Barron's Live at noon ET on Monday. Barron's Senior Managing Editor Lauren R. Rublin and Senior Writer Teresa Rivas speak with Christopher Rossbach, a managing partner and chief investment officer of J. Stern, about the economic and market outlook, consumer spending, infrastructure investing, and his favorite stocks.

Barron's Live features timely and actionable insights for investors. We give you behind-the-scenes conversations with the newsroom, connecting you with our editors and reporters covering the markets, the economy, and more.

Sign up here

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

July 10, 2026 19:55 ET (23:55 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.