Daily edition · 4 July 2026

The market at a glance

The brief for 4 July 2026. Read today’s brief

Market sentiment

History shown

61% bullish — 61% 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 35% on 28 Jun to 61% on 4 Jul; low 34% on 29 Jun, high 63% on 1 Jul.

Equities narrative sentiment, the 7 days to 4 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 (%)
2026-06-28	35
2026-06-29	34
2026-06-30	46
2026-07-01	63
2026-07-02	57
2026-07-03	53
2026-07-04	61

From 32% on 22 Jun to 61% on 4 Jul; low 11% on 24 Jun, high 63% on 1 Jul. 17 days have no reading and are left as a gap.

Equities narrative sentiment, the 30 days to 4 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
2026-07-04	61

From 32% on 22 Jun to 61% on 4 Jul; low 11% on 24 Jun, high 63% on 1 Jul. 77 days have no reading and are left as a gap.

Equities narrative sentiment, the 90 days to 4 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
2026-07-04	61

From 36% on 28 Jun to 48% on 4 Jul; low 27% on 30 Jun, high 48% on 4 Jul.

Crypto narrative sentiment, the 7 days to 4 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 (%)
2026-06-28	36
2026-06-29	34
2026-06-30	27
2026-07-01	27
2026-07-02	32
2026-07-03	40
2026-07-04	48

From 70% on 21 Jun to 48% on 4 Jul; low 27% on 30 Jun, high 70% on 21 Jun. 16 days have no reading and are left as a gap.

Crypto narrative sentiment, the 30 days to 4 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
2026-07-04	48

From 70% on 21 Jun to 48% on 4 Jul; low 27% on 30 Jun, high 70% on 21 Jun. 76 days have no reading and are left as a gap.

Crypto narrative sentiment, the 90 days to 4 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
2026-07-04	48

From 14% on 28 Jun to 39% on 4 Jul; low 10% on 2 Jul, high 39% on 4 Jul.

Bonds narrative sentiment, the 7 days to 4 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 (%)
2026-06-28	14
2026-06-29	12
2026-06-30	17
2026-07-01	14
2026-07-02	10
2026-07-03	23
2026-07-04	39

From 5% on 22 Jun to 39% on 4 Jul; low 3% on 23 Jun, high 39% on 4 Jul. 17 days have no reading and are left as a gap.

Bonds narrative sentiment, the 30 days to 4 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
2026-07-04	39

From 5% on 22 Jun to 39% on 4 Jul; low 3% on 23 Jun, high 39% on 4 Jul. 77 days have no reading and are left as a gap.

Bonds narrative sentiment, the 90 days to 4 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
2026-07-04	39

From 29% on 28 Jun to 43% on 4 Jul; low 21% on 30 Jun, high 43% on 4 Jul.

Metals narrative sentiment, the 7 days to 4 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 (%)
2026-06-28	29
2026-06-29	29
2026-06-30	21
2026-07-01	21
2026-07-02	22
2026-07-03	32
2026-07-04	43

From 5% on 22 Jun to 43% on 4 Jul; low 5% on 22 Jun, high 48% on 23 Jun. 17 days have no reading and are left as a gap.

Metals narrative sentiment, the 30 days to 4 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
2026-07-04	43

From 5% on 22 Jun to 43% on 4 Jul; low 5% on 22 Jun, high 48% on 23 Jun. 77 days have no reading and are left as a gap.

Metals narrative sentiment, the 90 days to 4 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
2026-07-04	43

How this is measured

What moved markets on 4 July?

No commentary was saved for this edition.

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

Selected asset readings · 4 July

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

Swipe to see the selected assets

Bonds · US10Y

US 10-Year Bond

Narrative sentiment

39% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 16 points since 3 Jul

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

Equities · NVDA

NVIDIA

Narrative sentiment

49% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share down 15 points since 3 Jul

Commodities · SILVER

Silver

Narrative sentiment

49% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 12 points since 3 Jul

Commodities · GOLD

Gold

Narrative sentiment

40% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 11 points since 3 Jul

Crypto · ETH

Ethereum

Narrative sentiment

45% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 9 points since 3 Jul

Equities · SPX

S&P 500

Narrative sentiment

64% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 8 points since 3 Jul

Crypto · BTC

Bitcoin

Narrative sentiment

44% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 9 points since 3 Jul

Equities · DJI

Dow Jones

Narrative sentiment

77% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 8 points since 3 Jul

Equities · NDX

Nasdaq 100

Narrative sentiment

57% bullish

Of articles taking a side · 7 days to 3 July 2026

Bullish share up 7 points since 3 Jul

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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% → 41.3% of Silver coverage in the 3 days to 4 Jul, vs the 3 days before.

Read the narrative: Silver Industrial Demand Price Support

Accelerating

Dow Record High Investor Confidence

Dow Jones · Bullish

The argument: The Dow's record high indicates strong investor confidence despite early losses.

Attention: 0% → 36.2% of Dow Jones coverage in the 3 days to 4 Jul, vs the 3 days before.

Read the narrative: Dow Record High Investor Confidence

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% → 26.7% of Dow Jones coverage in the 3 days to 4 Jul, vs the 3 days before.

Read the narrative: Soft Jobs Data Fed Relief

Fading

Gold Safe Haven Rotation Out

Gold · Bearish

The argument: Gold is under pressure as investors shift focus from safe havens to riskier assets amid stimulus hopes.

Attention: 20% → 1.8% of Gold coverage in the 3 days to 4 Jul, vs the 3 days before.

Read the narrative: Gold Safe Haven Rotation Out

Accelerating

AI Data Centers Climate Backslide

Google · Bearish

The argument: The massive energy demands of AI data centers are creating supply-demand gaps that tech companies may fill with cheaper fossil fuels rather than renewable energy, limiting their ability to meet climate goals

Attention: 0% → 16.6% of Google coverage in the 3 days to 4 Jul, vs the 3 days before.

Read the narrative: AI Data Centers Climate Backslide

1 of 5

What to watch for

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