Most Important News

1. Samsung Earnings to Test AI Chip Market;
2. AI Investment Shifts: Morgan Stanley Sees Funds Moving to Cloud Giants;
3. SK Hynix plans a $28B US listing;
4. SpaceX Gains Momentum with Dual Catalysts This Week;

S&P 500 futures maintained their positive momentum on Monday following a strong week on Wall Street that saw the Dow Jones Industrial Average reach record highs.

As of 03:44 PM Riyadh Time, futures tied to the broad market index gained 0.4%, while Nasdaq-100 futures advanced 1.15%, as markets prepare to reopen for a new trading week following Friday’s US Independence Day holiday. Dow Jones Industrial Average futures traded just below the flatline.

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As of 03:44 PM Riyadh Time, top pre-market movements are as follows:

Samsung Earnings to Test AI Chip Market

Following a June pullback in semiconductors amid competition and uncertainty over the AI return, investors await Samsung Electronics' preliminary results to gauge the AI rally's sustainability. Analysts expect the memory chipmaker's June-quarter operating profit to surge 18-fold year-over-year to KRW84.3 trillion ($55.1 billion). Revenue is projected to jump 127% to a record KRW169 trillion.

Morgan Stanley Warns Of Tech Rotation

Wilson forecasts funds moving from chip stocks to hyperscale cloud firms (Amazon.com, Inc.(AMZN.US), Microsoft Corporation(MSFT.US) ), hindering new US stock highs. Read in detail>>

AI Investment Shifts: Morgan Stanley Sees Funds Moving to Cloud Giants

Morgan Stanley strategist Michael Wilson notes a shift in investor focus towards AI cloud giants as semiconductor momentum wanes. Companies like Microsoft Corporation(MSFT.US), Amazon.com, Inc.(AMZN.US), and Meta Platforms(META.US) are highlighted for their strong core businesses within the AI ecosystem. Wilson predicts US indices may face pressure due to momentum loss in major firms, favoring cloud giants over semiconductors, with potential benefits for consumer, transport, and biotech sectors.

JPMorgan Forecasts Gold Pressure Short-Term, Potential Surge by Late 2026

JPMorgan indicates that gold prices may face short-term pressure due to weakened demand and sensitivity to real interest rates. Despite this, the bank remains bullish long-term, projecting prices to reach USD4,500 per ounce by late 2026. The third quarter average is expected at USD4,300. For 2027, continued central bank purchases, increased physical demand, and structural allocation needs are seen as key drivers sustaining gold's appeal as a reserve asset.

SK Hynix plans a $28B US listing

• South Korea's SK hynix(SKHY.US) will launch a $28 billion US stock listing to capitalize on the global AI boom. Read in detail>>
• SK hynix(SKHY.US) is considering a US listing, as analyst Shay Boloor calls the memory cycle "extreme," giving US investors a new play alongside Micron Technology, Inc.(MU.US). Read in detail>>
• Micron Technology, Inc.(MU.US) and SK Hynix, NVIDIA Corporation(NVDA.US)'s top AI memory suppliers, are set for a Wall Street competition. Read in detail>>
• SK Hynix plans a 0.5% fee rate for banks in its Nasdaq IPO, low versus US listings, per Bloomberg.

Meta eyes $6.5B Samsung AI chip deal

Meta Platforms(META.US) nears a $6.5 billion Samsung AI chip deal and launches Meta Compute. Read in detail>>

Gemini 3.5 Pro Set for July 17 Release, Outpacing Fable 5

According to Geeky Gadgets, Alphabet Inc. Class A(GOOGL.US) DeepMind has shifted from the original 2.5 Pro base to a newly pre-trained Gemini 3.5 Pro, delaying its release to July 17. This move reflects Google's prioritization of quality over speed amid pressures from OpenAI's GPT-5.6 and Anthropic's Fable 5. The release signifies more than just a new model; Google is also reportedly developing the image model Nano Banana Pro, aiming to rival OpenAI's GPT-Image 2. This indicates Google's dual focus on text and image generation, intensifying competition in the AI industry.

Nokia Scores Orange Belgium Deal

Nokia Oyj Sponsored ADR(NOK.US) won a contract from Orange Belgium to boost AI network capabilities across its infrastructure. Read in detail>>

Burry Reveals Micron Short Bet

Michael Burry disclosed a short position against Micron Technology, Inc.(MU.US), placing the chipmaker's stock under fresh investor scrutiny. Read in detail>>

Tesla Q2 Beat Fueled by Iran War Gas Spike

Tesla Motors, Inc.(TSLA.US) deliveries beat estimates, driven by rising gas prices amid Iran tensions; analyst expects Tesla rebound ahead of earnings. Read in detail>>

SpaceX Gains Momentum with Dual Catalysts This Week

SpaceX(SPCX.US) is set for a pivotal week as its IPO "quiet period" ends on July 7, allowing Wall Street analysts to issue ratings and price targets. Additionally, the stock will join the Nasdaq 100. Options data shows strong bullish sentiment, with heavy call positions at $180 and $190 strikes expiring July 10, signaling expectations of an 11%-17% surge from last Thursday's close. 

Broadcom Shares Rise Over 4% Pre-Market on Apple Deal

Broadcom Limited(AVGO.US) shares climbed more than 4% pre-market following an agreement to extend its technology collaboration with Apple until 2031. The company will develop custom ASIC chips for Apple, strengthening their partnership.