US equities kicked off the post-holiday week with a solid rally on July 6, as the S&P 500 climbed roughly 0.7% and the NASDAQ Composite gained approximately 1.1%. The session marked the first full trading day after markets closed for the July 3-4 Independence Day holiday.
Tech continues to do the heavy lifting
The NASDAQ’s outperformance over the S&P 500 tells a familiar story. Growth and technology stocks remain the primary engine of this market, with semiconductor names continuing to benefit from the AI infrastructure buildout. Both the S&P 500 and NASDAQ have recorded multiple all-time high closes throughout 2026, powered by a combination of strong corporate earnings in the tech sector and persistent AI-related capital expenditure.
The crypto correlation factor
Bitcoin has exhibited a notably positive correlation with both the S&P 500 and NASDAQ throughout the 2025-2026 period, with correlation coefficients reaching as high as 0.88 during certain trading windows. When the S&P 500 pops 0.7% and the NASDAQ gains 1.1% on a post-holiday Monday, crypto traders should be paying close attention, as digital assets have repeatedly shown sensitivity to exactly this kind of broad equity momentum.
