U.S. markets enter Monday, July 13, 2026 with conditions set by the Friday, July 10 close.

Stocks finished the week with a stronger tone. AI leadership returned. Semiconductors recovered. The Nasdaq led weekly gains. The S&P 500 moved closer to record levels. The Dow stabilized. Small caps remained under pressure. Oil eased. Treasury yields moved higher. The dollar remained steady. Gold stayed elevated.

The S&P 500 closed at 7,575.39.
The Nasdaq closed at 26,281.61.
The Dow closed at 52,637.01.
The Russell 2000 closed at 2,977.81.

The surface strengthened. The internal structure remained mixed as AI leadership recovered while smaller companies continued lagging.

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Friday’s session showed modest gains across the major indexes.

The S&P 500 rose +0.4%.
The Dow gained +0.3%.
The Nasdaq rose +0.3%.
The Russell 2000 fell -0.5%.

That ranked the major indexes from strongest to weakest as: S&P 500, Dow, Nasdaq, Russell 2000.

The S&P 500 gained 31.75 points.
The Dow gained 149.60 points.
The Nasdaq gained 74.72 points.
The Russell 2000 lost 14.74 points.

The strongest signal came from technology. The Nasdaq finished higher for the week as investors returned to AI-linked companies after the volatility earlier in the month. The biggest catalyst was SK Hynix’s U.S. market debut. The memory-chip company surged after its listing, reinforcing investor interest in AI infrastructure demand. That helped repair some of the damage from the prior semiconductor selloff.

The S&P 500 also continued its upward trend. It closed the week at 7,575.39, keeping the index near record territory. The Dow stabilized after recent pressure. It gained 149.60 points Friday, but still finished the week lower. The weakest signal remained small caps. The Russell 2000 fell 14.74 points and finished below 3,000. That showed the rebound remained concentrated in large technology companies rather than spreading evenly across the market.

For the week, the S&P 500 gained 1.2%.
The Nasdaq gained 1.7%.
The Dow fell 0.5%.
The Russell 2000 fell 0.6%.

For the year, the Russell 2000 remains the strongest major index. It is up 20.0%.
The Nasdaq is up 13.1%.
The S&P 500 is up 10.7%.
The Dow is up 9.5%.

The market continues to show strong index performance with uneven internal leadership.

Treasury yields moved slightly higher into the weekend.

The 2-year yield moved near 4.13%.
The 10-year yield moved near 4.57%.
The 30-year yield moved near 5.07%.

The bond market remained focused on inflation and Federal Reserve expectations.

The 10-year yield stayed above 4.5%. That kept pressure on long-duration assets, even as technology stocks recovered.
The 30-year yield remained above 5%. That showed long-term inflation concerns were still present.
The 2-year yield stayed near 4%. That kept the market focused on whether the Federal Reserve will continue holding rates higher.

The rate backdrop improved from the worst levels of the week, but remained restrictive.

The dollar remained steady after a volatile week. The U.S. Dollar Index traded near 101. The yen remained near multi-decade lows. The euro held modest gains against the dollar. Currency markets continued balancing two forces. A resilient U.S. economy supported the dollar. But softer labor data and reduced near-term rate pressure limited additional strength.

The yen remained the largest pressure point. Markets continued watching Japanese officials for possible intervention as dollar-yen remained near levels last seen in the 1980s. The currency backdrop remained firm but stable.

Commodity markets showed easing energy pressure.

WTI crude traded near $71.41.
Brent crude traded near $71+.
Spot gold remained near $4,100+.

Gold futures remained elevated. Oil prices eased into the weekend. WTI fell slightly as markets continued tracking supply conditions and geopolitical developments. The broader energy signal improved compared with the earlier week spike. That reduced immediate inflation pressure. Gold remained elevated. The metal continued reflecting uncertainty around inflation, rates, and geopolitical risk. The commodity backdrop improved, but risks remained. Oil was calmer. Gold continued showing demand for protection.

The Monday setup is defined by a market that survived another test of AI leadership. The week included: A chip selloff. Renewed Middle East tensions. Higher oil prices. Rate volatility. A strong AI rebound. By Friday, the market had recovered. Technology led. The Nasdaq gained. The S&P 500 moved higher. SK Hynix strengthened sentiment around AI demand. But the recovery was not broad. Small caps weakened.

The Russell 2000 finished below 3,000. The main question heading into the week is whether AI leadership can continue carrying the market higher.
Investors now shift focus toward earnings season. Markets are watching whether corporate results can justify elevated expectations around artificial intelligence investment. The setup entering Monday is stronger than it was earlier in the month, but leadership remains concentrated.

Key reference levels:

Markets enter Monday after a stronger weekly finish. The S&P 500 gained. The Nasdaq led weekly gains. The Dow stabilized. Small caps lagged. AI leadership returned. Semiconductors recovered. Oil eased. Treasury yields remained elevated. Gold stayed strong.

The key takeaway: Friday’s close showed that investors returned to the AI trade after a volatile week, but the recovery remains concentrated. Technology leadership is intact, while small caps, elevated yields, and inflation risks continue to determine whether the rally can broaden.