US Tech Stocks Hit All-Time Highs: What European Retail Investors Need to Know After Nvidia’s June 2026 Earnings

Stocks inched higher on Thursday, with investors parsing fresh economic data and weighing the Federal Reserve’s latest signals on interest rates. The day’s gains were modest, but enough to push major indexes further into positive territory for the week. ## Wall Street Holds Steady Amid Mixed Data The **S&P 500** advanced, continuing its recent upward momentum after a choppy start to the week. The **Nasdaq Composite** also notched a small gain, reflecting resilience in tech shares. Meanwhile, the **Dow Jones Industrial Average** posted a slight uptick as investors digested a new round of labor market and services sector data. Thursday’s moves followed the release of the latest US jobless claims report and ISM Services PMI. The jobless claims data showed a slight increase from last week, suggesting a softening but still robust labor market. The ISM Services Index, meanwhile, indicated ongoing expansion but at a slower pace than in recent months. These figures reinforced expectations that the Fed will keep rates higher for longer, even as markets look for hints of a policy pivot later in the year. ## Bonds, Commodities, and Currencies: Little Drama, Steady Moves Treasury yields held steady, with the benchmark 10-year yield hovering near recent levels as investors digested the economic data but found no major surprises. In commodities, oil prices were little changed, with **WTI crude** holding just above the $70 per barrel mark. Gold prices remained stable, reflecting investor caution amid mixed economic signals. On the currency front, the **US Dollar Index (DXY)** was flat, while **EUR/USD** showed only minor fluctuations. The lack of dramatic moves in FX markets suggests traders are waiting for clearer signals on the Fed’s next steps. For European investors with US holdings, this kind of stability in EUR/USD can reduce short-term currency risk—a topic explored in our guide on how currency fluctuations impact US stock investments. ## Key Movers: Tech Holds Up, Financials Lag Tech stocks provided much of Thursday’s support. Mega-cap names like Apple and Microsoft edged higher, while semiconductor stocks were mixed after recent strong gains. The sector’s resilience helped the Nasdaq outperform its peers. In contrast, financials lagged amid concerns about net interest margins and the impact of “higher for longer” rate policy. Regional banks were particularly sluggish, with investors watching for signs of stress in balance sheets. Healthcare names also saw mild pressure, with some large pharmaceutical stocks drifting lower following uninspiring news flow. Energy shares were little changed, mirroring the stability in crude prices. For European investors considering US tech exposure, it’s worth reviewing the latest strategies in The Essential 2026 Guide to Investing in US Stocks from Europe, which covers tax, broker options, and FX strategies. ## What to Watch: Jobs Report, Fed Speakers, and Global Earnings Looking ahead, Friday’s US nonfarm payrolls report will be the key event for markets. Investors will scrutinize wage growth and labor force participation for clues about inflation pressures and the Fed’s policy trajectory. Several Fed officials are also scheduled to speak in the coming days, and their comments could reset rate expectations. Globally, the European Central Bank’s upcoming policy decision remains on the radar, especially for those balancing US and EU equity exposure. Meanwhile, the tail end of the earnings season continues, with a handful of notable tech and consumer names still set to report. For readers looking to sharpen their analysis of quarterly results, see our guide on how to analyse earnings reports as a European retail investor. In summary, equity markets remain rangebound as investors weigh mixed economic signals and central bank guidance. With major data on deck, Friday could bring a clearer sense of direction—and set the tone for the weeks ahead.