Chip Stocks Rebound Boosts Major Averages
The major averages were higher to start the week as chip stocks rebound after recent weakness. Markets are returning from the holiday weekend with a constructive tone, as investors look to extend last week's rally.Last week's weaker-than-expected labor report reduced some fears of additional near-term Federal Reserve tightening, which has helped improve risk appetite. Investors are now turning attention to Wednesday's Fed meeting minutes for clues on how policymakers view inflation and economic growth going into the second half of the year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SK Hynixwill offer 17.79M common sharesLockheed MartinUltra Maritime Solutions for $3.45BBroadcomwilla range of custom ASIC silicon products for AppleSolstice Advanced Materialswill acquire Element Solutionsin avalued at $14.5BComcast'sSkyITV Media in a deal valued at up to GBP 1.6B2. WALL STREET CALLS:BofAT-Mobileto BuyScotiabankfive cybersecurity names, citing growth potential stemming from AIGileadto Buy at HSBCBernsteinDatadogto Market PerformJetBlueto Underperform at Raymond James3. AROUND THE WEB:Suppliers plan to ship less than 1M iPhonefold units in 3Q26, which may push the start of device pre-orders and sales to Q4, with weeks of delivery delays, TF International analyst Ming-Chi Kuo said in a blog postBoeingintends to start operating a fourth 737 MAX assembly line at its Everett, Washington factory on Monday, Reuters saysNvidiahas named Anna Soellner, Reddit'sformer vice president of communications, as head of corporate communications, Axios reportsDuring Sunday morning's government meeting, Deputy Minister Almog Cohen raised the issue of the sale of ZIMwith the government, Israel Hayom saysMicrosoftis eliminating 4,800 jobs, representing 2.1% of its workforce, with the company's Xbox division losing about one-fifth of its staff, CNBC reports4. MOVERS:TeraWulfincreases after announcing awith AnthropicIrengains in New York after Freedom Capitalthe stock to BuyDellhigher afterto "go out and buy a Dell"Kohl'slower after Morgan Stanleyof the stock with an Underweight ratingEHangfalls in New York after JPMorganthe stock to Underweight5. EARNINGS/GUIDANCE:Clarivatefor FY26OndasInnovate EyewearPepsiCoon July 9Delta Air Lineson July 10INDEXES:Near 1:20 pm ET, the Dow was up 0.09%, or 45.72, to 52,945.79, the Nasdaq was up 1.31%, or 337.58, to 26,170.26, and the S&P 500 was up 0.75%, or 56.47, to 7,539.71.
