As of Wednesday, July 1, 2026 (4:00 PM ET close), the S&P 500 closed at 7,483.23, down -0.22% on the day versus Tuesday June 30's 7,499.36 close and +1.76% WTD from Friday June 26's 7,354.02 close. The session was a "good data meets hawkish Fed" tape: ISM Manufacturing June printed 53.3 (vs 54.0 consensus) — the third consecutive expansionary month — while the FOMC minutes reaffirmed the hawkish stance. The 10Y rose to 4.44%. Tech sold off (XLK -2.57%), healthcare led the defensive bid (XLV +1.18%). The desk's preference is AI infrastructure on the pullback, financials on the steepener, and mega-cap media. Next session: Monday July 6 (Friday July 3 closed for Independence Day observed).