Traders work on the floor of the New York Stock Exchange during morning trading on July 01, 2026 in New York City.
Michael M. Santiago | Getty Images
The S&P 500 and Nasdaq Composite maintained their positive momentum on Monday following a strong week on Wall Street
The broad market index gained 0.7%, while the tech-heavy Nasdaq advanced 1.2% as markets started a new trading week following Friday’s U.S. Independence Day holiday. The Dow Jones Industrial Average last traded around the flatline after earlier surpassing 53,000 for the first time ever
Tech stocks rose broadly. The State Street Technology Select Sector SPDR ETF (XLK) climbed more than 2%, led by a 7% climb in Western Digital and a 6% jump in Teradyne. Marvell Technology and Oracle also gained more than 4% and more than 2%, respectively
The Dow climbed nearly 2% last week, putting it within striking distance of 53,000, a level it has never reached. The S&P 500 and Nasdaq Composite also posted sharp gains last week, advancing 1.8% and 2.1%, respectively
Those gains came even as semiconductors — the force behind many of the market’s gains this year — faltered last week, with investors paring exposure to chipmakers and rotating into other sectors. The VanEck Semiconductor ETF (SMH) shed 3.2%, marking its second losing week in a row. Still, the fund closed out the first six months of the year with a gain of more than 80% and was up more than 3% on Monday
“Expectations are really high, and so I don’t know if you’re going to see as much upside in the second half in these stocks as we did in the first half,” said Anthony Saglimbene, Ameriprise Financial’s chief market strategist. “As long as they confirm that fundamentals are strong, then I think they could probably melt a little bit higher.”
In that vein, Saglimbene expects there to be an ebb and flow between leaders in the artificial intelligence trade and the broader market over the coming months. That especially depends on whether AI-related companies can reaffirm their outlooks and post “strong” profits, he added
“I don’t think you can count on either of them carrying the torch for the second half of the year,” the strategist said. “It’s really going to be about the fundamentals, growth in earnings, level of interest rates, growth in the economy, and all that points to a pretty positive backdrop right now.”
Shares of Microsoft fell more than 1% after the company said it’s cutting 4,800 jobs, or 2.1% of its workforce. On the flip side, shares of Dell Technologies gained 4% after President Donald Trumppromoted the company’s computers from the White House after he rang the opening bell
27 Min Ago
Dell shares are up 4% after Trump promotes company’s computers
Dell Techologies CEO Michael Dell speaks during the launch of Trump investment accounts in the Oval Office of the White House in Washington, DC, on July 6, 2026.
Mandel Ngan | Afp | Getty Images
President Donald Trump on Monday promoted Dell’s computers from the White House after ringing the opening bell of the stock market in the Oval Office in a first-of-its-kind joint ceremony with the New York Stock Exchange and the Nasdaq
DELL, 1-day
Read the full story here
51 Min Ago
Microsoft shares are more than 1% lower after company cuts 4,800 jobs
Microsoft is eliminating 4,800 jobs, representing 2.1% of its workforce, with the company’s Xbox division losing about one-fifth of its staff in the software giant’s latest effort to cut costs in the era of artificial intelligence
“The way technology is built, deployed, and used is transforming faster than at any point in my time here,” Amy Coleman, Microsoft’s chief people officer and a 27-year company veteran, wrote in a message to employees Monday
Xbox is cutting 3,200 people through fiscal year 2027, Xbox CEO Asha Sharma wrote in an email to division employees, noting that 1,600 roles would be eliminated on Monday. The other 1,600 exiting is on top of the companywide total of 4,800 leaving immediately. Read more
MSFT, 1-day
— Jordan Novet
2 Hours Ago
Bank of America raises price target for IBM ahead of earnings
Visitors crowd the IBM exhibition stand at the 2026 Hannover Messe industrial trade fair on April 20, 2026 in Hanover, Germany.
Sean Gallup | Getty Images
Bank of America raised its IBM price target to $330 from $315, implying a 14% increase from Thursday’s close
Analyst Wamsi Mohan said he expects the global tech company to beat revenue expectations on its next quarterly release. Mohan noted that IBM remains sharply focused on Red Hat Tech strength, progress on its Confluent integration and managing near-term dilution
“We see upside driven by faster Confluent synergies and stronger growth in software and power & storage in infrastructure,” Mohan said in a note to clients Monday. “F2Q should set the trend for the 2H with better software mix, beginning improvement in TP (through z17 cycle), and Confluent contributing meaningfully (with dilution offset by cost synergies, productivity, mix).”
IBM is up about 1% this year, underperforming compared to the S&P 500. IBM is set to report earnings on July 22
IBM is down 2.26% this year
— Assiatou Hann
3 Hours Ago
ISM services index was little changed in June; inventories tumble
Service sector activity in the U.S. expanded in June at around the same pace in the prior month as price pressures eased slightly and employment moved into growth mode, the Institute for Supply Management reported Monday
The ISM Services PMI was at 54 for the month, down 0.5 points from May and just slightly under the 54.3 Dow Jones consensus estimate
Though the number was largely in line with expectations, inventories plunged 11.3 points to 51.2, a key input that subtracts from gross domestic product calculations. Elsewhere, the prices index slipped 3.6 points to 67.7 — still well above the 50 bar for growth — while the employment index rose 3.3 points to 51.2, back into expansion territory
— Jeff Cox
3 Hours Ago
We are not in an AI bubble, says Yardeni
Eakarat Buanoi | Istock | Getty Images
Ed Yardeni, president of Yardeni Research, expressed his confidence in AI on CNBC’s “Squawk Box,” adding further that we are not in an AI bubble
“I don’t really think so. I mean, AI is the real deal. I use it all the time. I used to use Google Search, now I use Claude and Gemini, and it’s a very, very powerful research assistant,” he said
Instead, he expects S&P to hit 8250 by the end of the year driven by the earning momentum
“We’ve got what I call FEMA (fabulous earnings momentum), as opposed to FOMO (fear of missing out),” further explaining that the current market has got earnings power behind it and not just valuation
Further discussing the possibility of the S&P 500 reaching 10,000 by the end of the decade, he said, “If the Roaring 2020s works, then I’m already talking about the possibility of a Roaring 2030s.”
Yardeni remained optimistic about the revolutionary impact of technologies like self-driving cars, which he says could significantly improve efficiency and reduce waste, also emphasizing the importance of these advancements in shaping the future and driving economic growth
— Deena Zaidi
3 Hours Ago
Stocks rise Monday
U.S. equities gained on Monday, with the Dow Jones Industrial Average hitting a fresh record high
The S&P 500 rose 0.5% shortly after the opening bell, while the Nasdaq Composite added 0.7%. The Dow Jones Industrial Average gained 105 points, or 0.2%, and exceeded 53,000 for the first time
— Sean Conlon
4 Hours Ago
TeraWulf shares jump more than 16%
Cheng Xin | Getty Images
TeraWulf shares jumped more than 16% in premarket trading after Anthropic signed a 20-year deal to use its Kentucky data center on Monday.
The data center can support about 400 megawatts with its first power delivery expected in the second half of 2027. The center is roughly an hour southwest of Louisville.
The deal is expected to give over $19 billion in revenue in the initial term
WULF, 1-day
— Ananya Chetia
5 Hours Ago
Comcast, ASML and Applied Materials among the names making moves before the bell
Check out the companies making the biggest moves premarket:
- Comcast — Shares rose by 0.5% after the company’s U.K.-based Sky announced it will buy rival ITV’s television business. While Comcast owns Sky for now, the company recently announced plans to spin off its media assets.
- ASML Holding — The Dutch semiconductor company was up 4% after Bernstein hiked its price target on the stock by more than 30% to $2,300. Analysts at the firm said they were raising their forecasts amid unprecedented expansion in both logic and DRAM capacity driven by artificial intelligence.
- Lam Research, Applied Materials, KLA Corporation — Shares of all three companies were some of the best performers on the S&P 500 premarket after Morgan Stanley analysts hiked their price targets on each of the stocks. Lam Research was at the top of the S&P, up more than 4%. Applied Materials and KLA each were jumping just under 4%.
Read the full list here
— Davis Giangiulio
5 Hours Ago
Trump set to ring opening bells at the NYSE, Nasdaq
US President Donald Trump (R) speaks at the launch of Trump investment accounts in the Oval Office of the White House in Washington, DC, on July 6, 2026.
Mandel Ngan | Afp | Getty Images
President Donald Trump will be ringing the opening bell Monday at two major exchanges as equity markets continue to scale new heights
Though not at the actual sites, the president will kick off trading at both the New York Stock Exchange and the Nasdaq from the Oval Office. Trump repeatedly has championed the relentless surge in stock prices as proof that his economic agenda is working. The blue-chip Dow Jones Industrial Average is within striking distance of a new breakthrough at 53,000
Trump told reporters last week that “everybody’s profiting” because the stock market is going up, though Federal Reserve data shows that the top 1% of all earners own half the equity wealth in the country
Monday’s event is meant to showcase the launch of Trump Accounts, created to provide children access to stock wealth. More than 6 million families have signed up for the program, which provides a $1,000 seed contribution from the government
— Jeff Cox
6 Hours Ago
Markets on alert after latest developments in Russia-Ukraine war
Rescuers extinguish a fire and work in a damaged residential building following missile strikes on the Ukrainian capital of Kyiv on July 2, 2026, amid the Russian invasion of Ukraine.
Genya Savilov | Afp | Getty Images
The long-running Russia-Ukraine war appears to have entered a new phase after major developments over the weekend and ahead of a crunch NATO summit
In the last 72 hours, U.S. President Donald Trump purportedly held separate calls with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, Ukrainian drones struck an oil terminal and port in St. Petersburg and the surrounding area and Russia launched its second large-scale attack on Kyiv in less than a week
The prospect of renewed diplomacy, alongside the risk of escalation, has put investors on notice at a time when markets are trying to price geopolitical risk, energy security and the integrity of Europe’s defense spending pledges. Read more
— Sam Meredith
7 Hours Ago
Chip stocks rise after losing week
Semiconductor stocks were higher on Monday, as the group tried to recover some of the losses suffered declines last week
The VanEck Semiconductor ETF (SMH) rose 2.3%, with Marvell Technology gaining 4.1%. Teradyne, KLA, Lam Research and Intel were all up more than 3% each
— Fred Imbert
8 Hours Ago
BE Semiconductor shares tumble 7.4%
BE Semiconductor shares slumped 7.4% on Monday following media reports that suggested the development of a key growth driver for the Dutch chipmaker had been held up
Reuters cited an article by ZDNet, a Korean technology business news outlet, which said that the adoption of hybrid bonding could be delayed
Besi has first-mover advantage in hybrid bonding, a technique that boosts bandwidth and efficiency in semiconductors, and is seen as crucial for AI chips and high-bandwidth memory
— Hugh Leask
9 Hours Ago
EasyJet soars to the top of the Stoxx 600 as European markets rise in early trade
Sean Gallup, Getty Images News
EasyJet surged to the top of the Stoxx 600 in early dealmaking Monday after the U.K. budget airline agreed in principle to a takeover bid from U.S. private equity manager Castlelake. Shares in the low-cost carrier were up 9.75% by 8:45 a.m. in London (3:45 a.m. E.T.)
The pan-European benchmark was up 0.11%, with most regional sectors and major bourses in positive territory
Media stocks led the way, up 1.41%, after Comcast-owned Sky agreed to buy U.K. broadcaster ITV’s media and entertainment business, while European travel and leisure stocks advanced 1.01% following the EasyJet announcement
The Italian FTSE MIB rose 0.58%, while France’s CAC 40 gained 0.51%. The U.K. FTSE 100 added 0.43%, as Germany’s DAX advanced 0.39%
— Hugh Leask
10 Hours Ago
Asia-Pacific markets end mixed
Asia-Pacific markets closed mixed on Monday
Japan’s Nikkei 225 closed little changed at 69,737.69, while the broader Topix gained 0.92% to finish at 4,101.96
In South Korea, the Kospi lost 0.46% to end the session at 8,051.33, while the small-cap Kosdaq tumbled 2.46% to 847.07. Australia’s S&P/ASX 200 fell 0.15% to close at 8,831.00
China’s CSI 300 was flat at 4,842, while Hong Kong’s Hang Seng was last trading 0.81% higher
— Lee Ying Shan
11 Hours Ago
Comcast-owned Sky to buy U.K. broadcaster ITV’s media and entertainment unit
U.K. broadcaster ITV will sell its media and entertainment division to Comcast-owned Sky in a deal worth £1.6 billion ($2.13 billion)
Sky will pay £1.2 billion in cash and hand over ownership of Love Productions — maker of ‘The Great British Bake Off’ — as part of the deal. It may also pay an additional £200 million if the ITV business meets certain agreed performance targets after the takeover
ITV’s M&E division includes its free-to-air channels and its ITVX streaming platform. Combined with Sky, the business would account for around 20% of all in-home viewing in the U.K., second to the BBC and ahead of YouTube, Sky said in an announcement
ITV plc.
“ITV has successfully evolved in a rapidly changing media landscape — launching, and scaling, ITVX and developing ITV Studios into a major force in the global content market,” said Carolyn McCall, CEO, ITV plc. “This transaction builds on that momentum to deliver clear, tangible value for shareholders.”
Dana Strong, CEO of Sky Group, called the deal a “defining moment for British media.”
The deal is expected to be completed in the second half of 2027
— Hugh Leask
11 Hours Ago
European markets set to start the new week in negative territory
The sun rises over Paris with a view of the Eiffel Tower as seen from Saint-Cloud, France on August 25, 2025.
Anadolu | Anadolu | Getty Images
European stock markets are set to begin the new trading week in the red
Futures tied to the Stoxx 50 were down 0.07% before Monday’s market open, with most of the continent’s major bourses set to open lower
The German DAX is expected to buck the trend, up 0.05% higher in pre-trade in Frankfurt
But London’s FTSE 100 is set to open in negative territory, with the U.K. benchmark seen 0.04% lower. France’s CAC 40 is seen opening 0.1% lower, with the FTSE MIB down 0.09%
— Hugh Leask
12 Hours Ago
India’s Nifty 50 gains and rupee holds steady; BofA touts reform push
India’s Nifty 50 index rose 0.5% in early trading, while the rupee was flat at 95.23 against the greenback
Bank of America wrote in a note late Friday that India’s reform momentum has broadened over the past two years, with the government introducing 18 measures across tax, labor, energy security, manufacturing, banking and foreign capital access
The bank said the reforms mark a shift from near-term demand support toward structural resilience, though their market impact will depend on “the success and consistency of implementation at the ground level.”
The near-term equity beneficiaries are likely to be consumption-linked sectors, BofA said, after India rationalized goods and services tax rates and raised the no-tax income threshold to 1.2 million rupees. The bank said the tax changes could leave more than 1 trillion rupees in the hands of consumers, supporting retail, autos, internet and consumer technology stocks. It named Titan, ITC, Varun Beverages and United Spirits among its top consumer picks
BofA said India’s labor reforms could also become a longer-term support for equities by pushing more workers into formal jobs. The consolidation of 29 labor laws into four codes is expected to improve access to formal finance, insurance and healthcare, benefiting banks, non-bank lenders, insurers, diagnostics companies and hospitals
— Lee Ying Shan
14 Hours Ago
Lockheed Martin leads race for $3.5 billion purchase of naval defense firm Ultra Maritime
People visit a Lockheed Martin booth displaying a model of a military transport plane during an arms fair, in Hanoi, Vietnam, on Dec. 19, 2024.
Khanh Vu | Reuters
Defense heavyweight Lockheed Martin is leading the race to buy naval defense group Ultra Maritime, CNBC has learned
The deal to acquire Ultra is roughly $3.5 billion, and Guggenheim and JPMorgan are advising on the sell side, according to
Ultra is owned by private equity firm Advent International, and specializes in anti-submarine technology. The company makes radar and electronic warfare systems, as well as torpedo defense countermeasures
A Financial Times report last week said that talks were still ongoing and a deal could be announced as early as this week
Advent was reportedly put up for sale earlier in 2026 for more than 3 billion pounds, or $4 billion
Lockheed Martin is one of the world’s largest defense firms, producing planes such as the F-35 Lightning II fighter jet and munitions like the Patriot air defense missile
Read the full story here
— Lim Hui Jie
15 Hours Ago
Hong Kong’s Hang Seng and mainland China’s CSI 300 open higher
Chinese markets opened in the green, with Hong Kong’s Hang Seng Index climbing 0.4%, while the CSI 300 added 0.2%
Quantum Strategy said in a note early Monday that it was getting more bullish on Chinese equities, particularly artificial intelligence, after completing fresh research into the sector
The investment firm said it is rotating away from U.S. technology leaders while becoming more positive on Chinese stocks tied to AI adoption
In its latest portfolio recommendations, Quantum Strategy said it was “Out of AI (except China) and the Magnificent 7,” while recommending investors go long on sectors benefiting from AI deployment “with particular emphasis on China.”
— Lee Ying Shan
15 Hours Ago
Oil mixed in early Asia trade amid news of OPEC+ agreeing to increase production in August
In an aerial view, oil storage tanks are seen at the Sunoco LP Fuel Supply Terminal on June 15, 2026 in Austin, Texas.
Brandon Bell | Getty Images
Crude prices were mixed early Monday, as investors digest the implications of the OPEC+ oil cartel’s move to increase production in August
Futures for international benchmark Brent crude for September delivery were flat at $72.12 a barrel. U.S. West Texas Intermediate futures for August were 0.20% higher at $68.8 per barrel
OPEC+ agreed to increase production by 188,000 barrels per day in August, as the Strait of Hormuz gradually reopens. “The decision means OPEC+ has now restored around 940,000 barrels per day of supply since the process began,” Westpac said in a report
The move, which marks a fifth consecutive monthly increase, is expected to help keep global markets well supplied with oil,” particularly if the ceasefire and broader peace efforts between the US and Iran hold,” Westpac added
— Justina Lee
15 Hours Ago
Hanwha Group firms surge on hopes for potential Canadian submarine contract, space investment plan
Shares of two Hanwha Group companies jumped Monday, buoyed by expectations of a Canadian submarine contract and investment in the space sector
Hanwha Ocean rose over 12%, following reports that Canada will announce a submarine contract winner on Monday
Besides Hanwha Ocean, German-Norwegian partnership Thyssenkrupp Marine Systems is also vying for the contract, which involves building 12 submarines for Canada’s Navy, according to reports
The announcement is expected to be made before Canadian Prime Minister Mark Carney heads to a NATO leaders’ summit
Hanwha Systems also surged over 13%, after the company reportedly unveiled a 20 trillion won (about $15 billion) investment plan on Friday in satellite technologies, as part of Hanwha Group’s 55 trillion won investment in space and defense AI by 2040
“Space has transitioned from exploration into the realm of industry,” said Sun Kim, head of space business headquarters at Hanwha Group in a statement last week, “and now it has expanded even further into an issue directly tied to national security and space sovereignty.”
Hanwha Systems is ramping up efforts in the global space economy, which is set to grow over 1 trillion by 2040
— Justina Lee
Correction: This post has been updated to fix the amount Hanwha Systems is looking to invest.
17 Hours Ago
Asia-Pacific markets open mixed; South Korean won begins 24-hour trading
Japan’s benchmark Nikkei 225 was flat at the open, while the Topix added 0.2%. South Korea’s Kospi added 0.61%, while the small-cap Kosdaq declined 1%
Australia’s benchmark S&P/ASX 200 declined 0.23%
The Japanese yen was trading at 161.54 per U.S. dollar after weakening to a 40-year low against the greenback last week. South Korea’s won slipped around 0.25% to 1,532.82 per dollar after the currency began 24-hour trading
— Lee Ying Shan
18 Hours Ago
Asia-Pacific markets poised for mixed start with Fed minutes in focus this week
Asia-Pacific markets were set to trade mixed Monday as investors rethink artificial intelligence-driven plays, with focus also on the minutes from the Federal Reserve’s June meeting, set to be released later this week
Japan’s benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 70,040, against the index’s last close of 69,744.07
Australia’s benchmark S&P/ASX 200 is poised to open lower, with futures last trading at 8,794, compared with the index’s previous close of 8,844.40
Futures for Hong Kong’s Hang Seng index stood at 23,253, compared with its last close of 23,350.03
Investors this week will focus on the Federal Reserve, with policymakers set to release minutes from their June meeting — the first led by Chairman Kevin Warsh — on Wednesday
“Fed funds futures now imply 1.5 rate hikes over the next 12 months, a sharp reversal from the deep rate cut pricing that dominated the past three years. The minutes should indicate how much of that repricing the committee actually endorses,” market veteran Ed Yardeni wrote in a note
— Lee Ying Shan
19 Hours Ago
Investors are suffering from AI fatigue, say Ed Yardeni
Ed Yardeni, president of Yardeni Research.
Scott Mlyn | CNBC
The president of Yardeni Research thinks Wall Street is suffering from “AI fatigue” as they are not “convinced that the huge investments in AI infrastructure will earn a good rate of return.”
“They are worried about the possibility of excess capacity and increasing competition among AI providers, including the ones from China. They are unsettled by the decline in token prices, though the impact of that on providers’ revenues might be offset by greater usage,” he added
“Nevertheless, we don’t buy the bubble stories that compare the current bull market in stocks to the tech bubble of the late 1990s, which was followed by the Great Tech Wreck (GTW) of the early 2000s,” he said
— Fred Imbert
19 Hours Ago
Stock futures rise at the open
Futures tied to the 30-stock benchmark ticked higher by 12 points. S&P 500 futures gained 0.4%. Nasdaq-100 futures advanced 1.3%
— Fred Imbert
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