04:23 PM EDT, 07/02/2026 (MT Newswires) -- US equity indexes rose this week as gains in communication services and consumer cyclicals helped offset declines in technology, and crude oil extended declines amid continuing progress in Iran peace talks.

* The S&P 500 closed at 7,483.24 on Friday versus 7,354.02 a week ago. The Nasdaq Composite stood at about 25,832.67, compared with 25,297.62 a week earlier. The Dow Jones Industrial Average ended at 52,900.07, versus 51,876.11 at the end of last week.

* Health care, communication services, and consumer cyclicals led sectors, while energy, utilities, and technology lagged. Within tech, chipmakers retreated, and Micron Technology was among the steepest decliners.

* All but one Magnificent-7 firm ended the week higher, with Nvidia (NVDA) being the exception. Of the remaining six, four were in the top 10 of companies with a market capitalization of over $200 billion each. Apple (AAPL) led the Mag-7 pack, with a weekly gain of 12%.

* The Doha discussions produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said, according to a Thursday report from Reuters. Negotiators discussed maritime traffic in the Strait of Hormuz and unfreezing Iran's funds, sources familiar with the discussions told Reuters.

* US West Texas Intermediate crude oil retreated 0.2% to $68.46 per barrel late Thursday, trading below levels seen at the start of the Iran war.

* The June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion, for a net downward revision of 74,000 jobs.

* Price risks have fallen in recent weeks, Federal Reserve Chair Kevin Warsh said, while reiterating his determination to ease inflation to the 2% target.