Daily edition · 3 July 2026

The market at a glance

The brief for 3 July 2026. Read today’s brief

Market sentiment

History shown

53% bullish — 53% of the articles that took a side on S&P 500 and Nasdaq 100 argued equities higher this week.

Of articles taking a side · Past 7 days

S&P 500 · Nasdaq 100

From 32% on 27 Jun to 53% on 3 Jul; low 32% on 27 Jun, high 63% on 1 Jul.

Equities narrative sentiment, the 7 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-27	32
2026-06-28	35
2026-06-29	34
2026-06-30	46
2026-07-01	63
2026-07-02	57
2026-07-03	53

From 32% on 22 Jun to 53% on 3 Jul; low 11% on 24 Jun, high 63% on 1 Jul. 18 days have no reading and are left as a gap.

Equities narrative sentiment, the 30 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	32
2026-06-23	20
2026-06-24	11
2026-06-25	27
2026-06-26	36
2026-06-27	32
2026-06-28	35
2026-06-29	34
2026-06-30	46
2026-07-01	63
2026-07-02	57
2026-07-03	53

From 32% on 22 Jun to 53% on 3 Jul; low 11% on 24 Jun, high 63% on 1 Jul. 78 days have no reading and are left as a gap.

Equities narrative sentiment, the 90 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	32
2026-06-23	20
2026-06-24	11
2026-06-25	27
2026-06-26	36
2026-06-27	32
2026-06-28	35
2026-06-29	34
2026-06-30	46
2026-07-01	63
2026-07-02	57
2026-07-03	53

From 41% on 27 Jun to 40% on 3 Jul; low 27% on 30 Jun, high 41% on 27 Jun.

Crypto narrative sentiment, the 7 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-27	41
2026-06-28	36
2026-06-29	34
2026-06-30	27
2026-07-01	27
2026-07-02	32
2026-07-03	40

From 70% on 21 Jun to 40% on 3 Jul; low 27% on 30 Jun, high 70% on 21 Jun. 17 days have no reading and are left as a gap.

Crypto narrative sentiment, the 30 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-21	70
2026-06-22	59
2026-06-23	66
2026-06-24	56
2026-06-25	47
2026-06-26	42
2026-06-27	41
2026-06-28	36
2026-06-29	34
2026-06-30	27
2026-07-01	27
2026-07-02	32
2026-07-03	40

From 70% on 21 Jun to 40% on 3 Jul; low 27% on 30 Jun, high 70% on 21 Jun. 77 days have no reading and are left as a gap.

Crypto narrative sentiment, the 90 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-21	70
2026-06-22	59
2026-06-23	66
2026-06-24	56
2026-06-25	47
2026-06-26	42
2026-06-27	41
2026-06-28	36
2026-06-29	34
2026-06-30	27
2026-07-01	27
2026-07-02	32
2026-07-03	40

From 9% on 27 Jun to 23% on 3 Jul; low 9% on 27 Jun, high 23% on 3 Jul.

Bonds narrative sentiment, the 7 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-27	9
2026-06-28	14
2026-06-29	12
2026-06-30	17
2026-07-01	14
2026-07-02	10
2026-07-03	23

From 5% on 22 Jun to 23% on 3 Jul; low 3% on 23 Jun, high 23% on 3 Jul. 18 days have no reading and are left as a gap.

Bonds narrative sentiment, the 30 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	5
2026-06-23	3
2026-06-24	7
2026-06-25	9
2026-06-26	10
2026-06-27	9
2026-06-28	14
2026-06-29	12
2026-06-30	17
2026-07-01	14
2026-07-02	10
2026-07-03	23

From 5% on 22 Jun to 23% on 3 Jul; low 3% on 23 Jun, high 23% on 3 Jul. 78 days have no reading and are left as a gap.

Bonds narrative sentiment, the 90 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	5
2026-06-23	3
2026-06-24	7
2026-06-25	9
2026-06-26	10
2026-06-27	9
2026-06-28	14
2026-06-29	12
2026-06-30	17
2026-07-01	14
2026-07-02	10
2026-07-03	23

From 27% on 27 Jun to 32% on 3 Jul; low 21% on 30 Jun, high 32% on 3 Jul.

Metals narrative sentiment, the 7 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-27	27
2026-06-28	29
2026-06-29	29
2026-06-30	21
2026-07-01	21
2026-07-02	22
2026-07-03	32

From 5% on 22 Jun to 32% on 3 Jul; low 5% on 22 Jun, high 48% on 23 Jun. 18 days have no reading and are left as a gap.

Metals narrative sentiment, the 30 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	5
2026-06-23	48
2026-06-24	32
2026-06-25	27
2026-06-26	26
2026-06-27	27
2026-06-28	29
2026-06-29	29
2026-06-30	21
2026-07-01	21
2026-07-02	22
2026-07-03	32

From 5% on 22 Jun to 32% on 3 Jul; low 5% on 22 Jun, high 48% on 23 Jun. 78 days have no reading and are left as a gap.

Metals narrative sentiment, the 90 days to 3 Jul 2026: the share of articles taking a side that were bullish, each day a 7-day reading. Days without a reading are not listed.
Date	Bullish share (%)
2026-06-22	5
2026-06-23	48
2026-06-24	32
2026-06-25	27
2026-06-26	26
2026-06-27	27
2026-06-28	29
2026-06-29	29
2026-06-30	21
2026-07-01	21
2026-07-02	22
2026-07-03	32

How this is measured

What moved markets on 3 July?

No commentary was saved for this edition.

3 July 2026 · Narrative sentiment measures published coverage, not investor opinions or price returns.

Selected asset readings · 3 July

The assets whose readings moved most in this edition. Explore the coverage around each.

Swipe to see the selected assets

Commodities · SILVER

Silver

Narrative sentiment

37% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 15 points since 2 Jul

Bonds · US10Y

US 10-Year Bond

Narrative sentiment

23% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 13 points since 2 Jul

Bullish means the bond’s price higher (yields lower).

Crypto · ETH

Ethereum

Narrative sentiment

36% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 9 points since 2 Jul

Crypto · BTC

Bitcoin

Narrative sentiment

35% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 7 points since 2 Jul

Commodities · GOLD

Gold

Narrative sentiment

29% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 7 points since 2 Jul

Equities · GOOGL

Google

Narrative sentiment

52% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 6 points since 2 Jul

Equities · NDX

Nasdaq 100

Narrative sentiment

50% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share down 5 points since 2 Jul

Equities · SPX

S&P 500

Narrative sentiment

56% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share down 3 points since 2 Jul

Crypto · SOL

Solana

Narrative sentiment

82% bullish

Of articles taking a side · 7 days to 2 July 2026

Bullish share up 2 points since 2 Jul

1 of 9

Narratives gaining or losing attention

The narratives whose share of coverage changed most in this edition.

Scroll sideways or use the arrows

Accelerating

Silver Industrial Demand Price Support

Silver · Bullish

The argument: Silver prices may remain elevated due to industrial demand even as the global economy recovers.

Attention: 0% → 51.1% of Silver coverage in the 3 days to 3 Jul, vs the 3 days before.

Read the narrative: Silver Industrial Demand Price Support

Fading

ETH Institutional Relevance Loss

Ethereum · Bearish

The argument: Competition from other blockchains like Solana could impact Ethereum's long-term value.

Attention: 25% → 2% of Ethereum coverage in the 3 days to 3 Jul, vs the 3 days before.

Read the narrative: ETH Institutional Relevance Loss

Accelerating

Soft Jobs Data Fed Relief

Dow Jones · Bullish

The argument: Softer-than-expected jobs data reduces near-term Fed rate hike pressure, supporting equity valuations

Attention: 0% → 21.2% of Dow Jones coverage in the 3 days to 3 Jul, vs the 3 days before.

Read the narrative: Soft Jobs Data Fed Relief

Accelerating

Small-Cap Rate Sensitivity Pressure

Russell 2000 · Bearish

The argument: Small-cap firms are vulnerable in a higher interest rate environment as they rely more heavily on borrowing.

Attention: 0% → 15.2% of Russell 2000 coverage in the 3 days to 3 Jul, vs the 3 days before.

Read the narrative: Small-Cap Rate Sensitivity Pressure

Accelerating

Small-Cap Long-Term Outperformance Cycle

Russell 2000 · Bullish

The argument: Small- and midcap stocks will outperform most other asset classes for decades to come.

Attention: 0% → 12% of Russell 2000 coverage in the 3 days to 3 Jul, vs the 3 days before.

Read the narrative: Small-Cap Long-Term Outperformance Cycle

1 of 5

What to watch for

Watch whether Nvidia's AI-valuation skepticism continues to accelerate into earnings season: if upcoming earnings disappoint on forward guidance, the bearish AI narrative could spread from the Nasdaq to depress broader equity sentiment.

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