Week of 6 July 2026
Weekly markets 06 07 2026
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Wall Street's earnings optimism is starting to look like a bubble this week — Bloomberg data has S&P 500 profit growth forecast at 25% for the coming year, but Capital Economics and UBS both warn AI-related capex assumptions are becoming impossible to sustain, even with valuations at a modest 20 times forward earnings. We also dig into 2026's top-heavy economy: mega-mergers over $10bn now make up 48% of total deal value, VC rounds above $1bn account for 61% of funding, and trust in big business has halved since 2000 to just 15%, even as $2.2tn in S&P 500 cash and hyperscaler AI spend fuel the concentration further. Plus a nod to Bending Spoons' 40% Nasdaq debut.
