Post-market briefing
Friday, June 26, 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.
Friday's postmarket close brought a difficult end to the week for your equity holdings, with all three positions finishing in the red. Heading into the final session of June, sector rotation and late-week profit-taking weighed on risk positioning, leaving the portfolio broadly softer heading into the weekend.
Portfolio Snapshot
| Ticker | Price | Day % | YTD % | 52W Range Pos |
|---|---|---|---|---|
| CRDO | $238.00 | -11.20% | +65.40% | 69% |
| IONQ | $49.31 | -2.47% | +9.90% | 40% |
| NOW | $98.34 | +9.85% | -35.81% | 13% |
Market Overview
| Index | Price | Day % | YTD % |
|---|---|---|---|
| S&P 500 (SPY) | $729.98 | -0.59% | +7.05% |
| Nasdaq-100 (QQQ) | $706.52 | -1.38% | +15.01% |
| Dow Jones (DIA) | $518.00 | -0.24% | +7.79% |
Holdings Breakdown
CRDO closed at $238.00, down 11.20% on the session. Credo Technology declined sharply in afternoon trading, reversing much of this quarter's gains as investors reassessed valuations after the stock's rapid ascent. Watch for analyst commentary over the weekend and any guidance-related commentary that may surface Monday, given the communication-equipment sector's sensitivity to data-center demand signals.
IONQ closed at $49.31, down 2.47% on the session. The Russell 2000 is losing 43 companies in its annual rebalance after AI-driven gains pushed former small caps into large-cap territory, and IonQ's graduation into mid-cap indexes likely contributed to today's modest pullback as index-tracking flows rebalanced. Watch for stabilization as the reindexing completes and sentiment around quantum computing valuations settles.
NOW closed at $98.34, up 9.85% on the session. ServiceNow emerged as one of the strongest performers in a Jefferies survey of IT executives, and the stock benefited from a broader market rotation favoring software over chip stocks as investors reassess AI valuations. Oppenheimer reiterated its bullish stance with expectations for business reacceleration in the second half of 2026, signaling confidence despite the sector's recent pressure to prove earnings and returns from massive AI investments.
Rate Environment
Treasuries closed Friday with the 2-year at 4.11%, the 10-year at 4.41%, and the 30-year at 4.86%, producing a normal curve with 10Y-2Y spread of +30 basis points. The 2-year yield at 4.11% sits above the Fed Funds rate of 3.63%, a gap that reflects market pricing for the path ahead following the Fed's prior rate cuts. With the current rate of 3.63% reflecting an easing cycle already underway, credit spreads remain relatively contained, with AAA corporates at 0.37% and BBB corporates at 0.94% over Treasuries. That spread environment suggests limited stress in investment-grade credit, providing a constructive backdrop for rate-sensitive holdings in this portfolio.
Bottom Line
Heading into the weekend with equities under pressure, the priority is monitoring whether Friday's weakness reflects broader rotation or something more stock-specific. Hold a cautious posture and watch for any shift in sentiment when markets reopen Monday.
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