Post-market briefing
Thursday, June 25, 2026
What moved in a real portfolio, and why. This is an actual Holdings Daily briefing as delivered, not a summary of one. Every claim links to the article it came from, and the email is blocked from sending if it does not: how we source.
A demo portfolio of widely-held names, briefed on the real schedule. Not a subscriber's holdings.
Thursday's postmarket session closed on a difficult note for this portfolio, with all three equity positions pulling back against a backdrop of lingering rate sensitivity and mixed sector momentum heading into the end of the week. Volatility remained a factor across equity markets broadly, keeping pressure on individual holdings. The detailed blurbs below break down what drove each position today.
Portfolio Snapshot
| Ticker | Price | Day % | YTD % | 52W Range Pos |
|---|---|---|---|---|
| CRDO | $268.03 | -0.36% | +86.27% | 82% |
| IONQ | $50.56 | -5.67% | +12.68% | 42% |
| NOW | $89.52 | -4.56% | -41.56% | 6% |
Market Overview
| Index | Price | Day % | YTD % |
|---|---|---|---|
| S&P 500 (SPY) | $733.50 | +0.04% | +7.56% |
| Nasdaq-100 (QQQ) | $716.45 | +0.82% | +16.63% |
| Dow Jones (DIA) | $519.31 | +0.15% | +8.06% |
Holdings Breakdown
CRDO closed at $268.03, down 0.36% on the session. Credo pulled back from session highs but remains deep into its 52-week range after a remarkable multi-month surge driven by sustained demand for high-speed connectivity solutions in AI data center buildouts. Watch whether the stock can hold near current levels as investors weigh stretched valuations against ongoing hyperscaler spending commitments.
IONQ closed at $50.56, down 5.67% on the session. The session's sharp pullback left shares sitting roughly midway through their 52-week range, continuing a monthlong retreat from earlier highs despite a strong quarterly run, and investors should watch for any updates on commercial contract momentum or broader quantum computing sentiment that could determine whether this consolidation deepens or stabilizes.
NOW closed at $89.52, down 4.56% on the session. ServiceNow extended its sharp year-to-date decline, now sitting just a fraction through its 52-week range as broader software valuations remain under pressure despite the business fundamentals drawing some bullish attention. With the stock characterized as an excellent business trading at a discount, investors will be watching whether improving sentiment can gain traction ahead of the next earnings window.
Rate Environment
Treasury yields closed Thursday with the curve in a normal configuration, the 10Y at 4.50% and the 2Y at 4.16%, producing a 34bp spread between them. The 2-year yield sits above the Fed Funds rate of 3.63%, a relationship that reflects markets pricing in some degree of policy stability or modest recalibration ahead. The current Fed Funds rate of 3.63% is the product of prior rate cuts, placing this portfolio in an easing-cycle context rather than a restrictive one. Credit spreads remain contained, with AAA corporates at 0.36% and BBB at 0.93%, suggesting little stress in investment-grade credit that would otherwise complicate fixed-income positioning.
Bottom Line
Equity pressure heading into the close warrants a cautious overnight posture; watch for any catalyst shifts at the open that could either confirm the weakness or set up a reversal across your holdings.
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This briefing covers a demo portfolio. Yours would cover the things you actually own: every position priced and sorted by the size of its move, the ones that mattered explained, every claim linked to its source.
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