Wade's Weekly Market Update
June 30, 2026
Good afternoon,
Stocks lost ground last week led by technology shares. Interest rates declined giving a boost to bond prices. We also saw a change to the Dow Jones Industrial Average, the grandfather of all stock indices made up of just 30 stocks. In a sign of the economic times, Alphabet (GOOGL) replaced Verizon (VZ) in the DJIA in
what is the Dow’s 32nd index shakeup since 1928.1 The Blue-Chip index now has a healthy allocation to technology, and less exposure to more traditional sectors, like energy. (Chevron is the only oil company represented in the Dow.)
Speaking of energy, crude oil prices traded at $69/barrel last Thursday (6/25), down 42% from the post-Iran conflict high of $119.502 and just a couple of dollars higher than where they were before the war. Prices at the pump, on the other hand, as measured by AAA, were down just 14% from highs as of 6/25.3 Gas prices always rise quickly but come back down on their own schedule. Remember that the agreement with Iran is temporary and has already endured several military actions by both sides. We wouldn’t be surprised to see the Strait of Hormuz conflict linger while keeping gas prices high for many months to come.
Watching the news these days, and by studying the past, it appears that trouble has plagued the human existence forever. Wars, disease, natural disasters, poverty, cruelty, and indifference can be found throughout our history. As far as the universe goes, we’re the new kids on the block, and it looks like we’re making mess of things. If the entire history of the universe was placed on a single calendar year, humans would only exist starting around 11:59 pm on December 31st. Yes, we’ve made great progress on many fronts, but it seems we should all try to be a bit nicer to each other - and the planet - before midnight.
Please visit our website at www.canfg.com to view past updates and information about Canandaigua Financial Group.
As always, if you would like to discuss this or anything regarding current market conditions or your portfolio, feel free to contact our office any time at 585-396-2720.
Happy 4th of July!
Wade
Wade A. Sarkis, CFP®, AIF®
Partner Emeritus
Canandaigua Financial Group
45 Ontario Street
Canandaigua, NY 14424
(585) 396-2720
Advisory Services offered through Commonwealth Financial Network®, a Registered Investment Adviser.
Note: Trade orders cannot be accepted via email or voicemail.
1 Press Release: Alphabet Set to Join and Honeywell International to Remain in Dow Jones Industrial Average . S&P Global; S&P Dow Jones Indices. June 23, 2026, https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20260623-1484126/1484126_djiavzjune2026.pdf
2 Download CL.1 Data | Crude Oil WTI (NYM $/bbl) Front Month Price Data | MarketWatch. (2026, July). MarketWatch. https://www.marketwatch.com/investing/future/cl.1/download-data?startDate=2/27/2026&endDate=06/30/2026
3 National Gas Average Stays Below $4 for Second Week – AAA Newsroom. (2026, June 25). AAA.com. https://newsroom.aaa.com/2026/06/national-gas-average-stays-below-4-for-second-week/
June 2026
May 2026
April 2026
March 2026
February 2026
January 2026
December 2025
November 2025
11-25-25
11-20-25
11-13-25
11-06-25