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Published: 9 July 2026,08:59
Daily Market Analysis New
*Wall Street ended mixed as renewed US-Iran tensions reignited risk aversion and lifted market volatility.
*Higher oil prices revived inflation concerns, pushing Treasury yields higher and reinforcing expectations of prolonged restrictive Fed policy.
*The Dow Jones fell over 1% as industrial, transportation and consumer-related sectors came under pressure from rising energy costs.
Wall Street ended mixed as renewed geopolitical tensions overshadowed investor sentiment, after President Donald Trump declared that the temporary peace agreement with Iran had collapsed and warned of further military action. The renewed conflict reignited concerns over potential disruptions to oil supplies through the Strait of Hormuz, sending Brent and WTI crude prices nearly 5% higher. The sharp rise in energy prices revived inflation concerns, pushing the US 10-year Treasury yield to a one-month high and reinforcing expectations that the Federal Reserve may need to keep interest rates higher for longer. The CBOE Volatility Index (VIX) also climbed to its highest level in more than a week, reflecting increased demand for downside protection amid growing market uncertainty.
The Dow Jones Industrial Average underperformed the broader market, falling more than 1% as investors rotated away from economically sensitive sectors. Higher oil prices and rising Treasury yields weighed heavily on industrials, financials, transportation, consumer discretionary and housing-related stocks, as markets grew increasingly concerned that elevated fuel costs and tighter financial conditions could pressure corporate earnings and slow economic growth. Airlines, cruise operators and retailers were among the weakest performers, while data showing the US Strategic Petroleum Reserve had fallen to its lowest level since 1983 further intensified worries that global energy markets remain vulnerable to future supply shocks.
Investor sentiment was also dampened after the International Monetary Fund lowered its 2026 global growth forecast, warning that prolonged conflict in the Middle East could weaken global trade and economic activity. Meanwhile, the June FOMC meeting minutes reinforced a cautious, higher-for-longer policy stance, with several policymakers highlighting persistent inflation risks stemming from higher energy prices, tariffs and geopolitical uncertainty. Investors also focused on Fed Chair Kevin Warsh’s intention to reduce forward guidance, increasing uncertainty over the future path of US monetary policy and contributing to broader market caution.
Despite the broader risk-off environment, technology shares continued to provide support for the market. Semiconductor stocks rebounded after recent weakness, with Broadcom advancing following Apple’s announcement of a multibillion-dollar chip supply agreement, helping lift the Philadelphia Semiconductor Index and limit losses in the Nasdaq. Energy companies also outperformed as investors rotated into sectors expected to benefit from higher crude prices. Looking ahead, markets will closely monitor developments surrounding the US-Iran conflict, oil prices, Treasury yields and upcoming US economic data, as these factors are expected to remain the primary drivers of Wall Street sentiment in the near term.
Technical Analysis
Dow Jones, H4:
The Dow Jones Industrial Average remains within a well-established medium-term uptrend despite the latest pullback from recent highs. After breaking above the previous resistance zone near 51,380, the index extended its advance toward the 53,000 region before encountering profit-taking. The current decline appears corrective in nature, with price retracing toward the 38.2% Fibonacci retracement level at 52,310, while the broader bullish structure remains intact.
Momentum indicators suggest that the recent rally has paused rather than reversed. The Relative Strength Index (RSI) has eased back to around 52, slipping below its moving average after retreating from near-overbought territory, indicating that bullish momentum has moderated but remains above the neutral level. Meanwhile, the Moving Average Convergence Divergence (MACD) is still above the zero line, although the MACD line has crossed below the signal line and the histogram has turned slightly negative, reflecting short-term weakening momentum following the recent advance.
Resistance Levels: 53,065.00, 53,820.00
Support Levels: 52,310.00, 51,380.00
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