1 month ago
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Cris Tolomia
Tue, July 7, 2026 astatine 6:37 AM CDT 2 min read
Chip stocks fell crossed planetary markets connected Tuesday aft Samsung Electronics banal dropped astir 7% successful South Korea, dragging the Nasdaq-100 little adjacent arsenic the Dow pointed to humble gains pursuing its first-ever adjacent supra 53,000.
A forecast of a 19-fold leap successful second-quarter operating nett wasn't capable to fulfill what The Wall Street Journal described arsenic investors' lofty expectations for Samsung. South Korea's Kospi scale fell astir 5% successful the aftermath of the results. Among U.S. chipmakers feeling the unit successful pre-market trading, Micron dropped 5%, and losses extended to KLA, Marvell Technology, Nvidia, Broadcom, and AMD, CNBC reported. Nasdaq-100 futures fell astir 1%, portion S&P 500 futures mislaid 0.1%. Dow futures edged up 0.2%.
"The absorption to Samsung speaks to 1 of the biggest risks facing markets implicit the coming weeks: second-quarter net results are apt to beryllium rather robust connected an implicit ground ... but dissimilar with the first-quarter season, expectations are presently precise bullish," Adam Crisafulli of Vital Knowledge said.
An onslaught by Iran's Revolutionary Guard connected 2 commercialized ships adjacent the Strait of Hormuz pushed vigor prices upward Tuesday morning, The Journal reported. Oil benchmarks responded to the news, with Brent crude up astir 1% and approaching the $73-a-barrel mark. Natural state prices successful Europe moved higher arsenic well.
Tuesday's moves travel a beardown Monday league connected Wall Street. Monday's rally saw the Dow transverse supra 53,000 for the archetypal clip successful past and adjacent there. A broad-based betterment successful semiconductor stocks helped the Nasdaq Composite summation much than 1%, portion the S&P 500 roseate 0.7%.
"We're getting caller highs connected assorted indices, and that makes sense," Richard Bernstein, Janus Henderson's planetary caput of macro and customized investing, said. "Not lone is net maturation strong, but it's abundant arsenic well."
Shares of SpaceX, acceptable to articulation the Nasdaq-100 connected Tuesday, were trading astir 2% little earlier the opening bell, according to CNBC. Investors volition besides ticker for U.S. commercialized shortage information owed Tuesday morning.
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