Most Important News

1. Stock Futures Slide As Chipmakers Fall; SK Hynix Sinks 10%;
2. Oil Prices Surge: Crude Rises 3% On Strait Closure Fears;
3. CPI Data Due: June CPI Report Releases Tuesday Afternoon;

Stock futures fell on Monday, with chipmakers following international peers sharply lower in premarket trade, as traders weighed the latest events in the Middle East and braced for a slew of corporate earnings reports due out later in the week.

As of 03:22 PM Riyadh Time, S&P 500 futures lost 0.37%, while Nasdaq-100 futures were down 1.07%. Dow Jones Industrial Average futures lost 0.15%.

Semiconductor names were under pressure ahead of the market open. US-listed shares of SK hynix Inc.(SKHY.US) lost 10% following the South Korean chipmaker's Nasdaq debut on Friday, when it soared 13%.

Shares in Micron Technology, Inc.(MU.US) were down 4%, as were shares of Sandisk Corporation(SNDK.US). Seagate Technology Holdings PLC(STX.US) fell 3%. Elsewhere, Advanced Micro Devices, Inc.(AMD.US) was 2% lower, along with Intel Corporation(INTC.US).

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As of 03:22 PM Riyadh Time, top pre-market movements are as follows:

US-Iran Strikes Jolt Oil And Equity Futures

US airstrikes on Iran and retaliatory attacks lifted West Texas Intermediate crude 3.77% to $74.10 and Brent 3.60% to $78.75, while Dow Jones Industrial Average(DJI.US) futures fell 109 points, S&P 500 index(SPX.US) 17.5, NASDAQ-100(NDX.US) 117.5 amid heightened Hormuz security risks. Read in detail>>

Meta Rally Lifts Zuckerberg Wealth, AI Strategy

Meta Platforms(META.US) shares surged from $540 to $669, boosting Mark Zuckerberg’s net worth above $237 billion and making him the world’s fifth-richest person. Gains reflect plans to monetize surplus data-center capacity, launch custom AI chips with Broadcom Limited(AVGO.US), and strong earnings expectations. Read in detail>>

Gold ETFs Slide Despite Iran Conflict Escalation

Spot gold around $4,073 per ounce, down 5.5% from recent highs yet 21.8% above last year, while SPDR Gold(GLD.US), Gold Trust Ishares(IAU.US), WORLD GOLD TRUST(GLDM.US), abrdn Physical Gold Shares ETF(SGOL.US) and iShares Gold Trust Micro ETF of Benef Interest(IAUM.US) fall over 5% YTD as higher oil sustains Fed hawkishness. Read in detail>>

Cathie Wood argues AI Productivity Seen Lowering Long-Term Interest Rates

ARK Invest CEO Cathie Wood argues AI-driven productivity could reduce inflation by enabling companies to cut prices, pulling long-term yields lower, echoing Industrial Revolution dynamics, despite contrasting views from Morgan Stanley, the Federal Reserve, and the IMF on AI’s net rate impact. Read in detail>>

Economists Warn June Jobs Data Masks Labor Weakness

June US payrolls added only 57,000 jobs, prior gains were revised down, and hiring was concentrated in healthcare, while household employment fell and labor-force participation slid to 61.5%, prompting Mark Zandi’s adjusted unemployment gauge to exceed 5% and economists to question official data reliability. Read in detail>>

Record Highs Puzzle Solved By AI

Economist Justin Wolfers claims US stock market record becomes less puzzling after excluding AI-driven stocks. Read in detail>>

AI Boom Shifts Cash Toward Chipmakers

NVIDIA Corporation(NVDA.US), Micron Technology, Inc.(MU.US), Broadcom Limited(AVGO.US) and Applied Materials, Inc.(AMAT.US) are projected to generate a record $430 billion in free cash flow over 12 months, while Amazon.com, Inc.(AMZN.US), Alphabet Inc. Class A(GOOGL.US), Meta Platforms(META.US), Microsoft Corporation(MSFT.US) and Oracle Corporation(ORCL.US) collectively turn negative amid $1.8 trillion AI capex. Read in detail>>

Megabanks Poised For US 'Super Data Week'

Jpmorgan Chase(JPM-A.US), Bank of America Corp Deposit Shs Repr 1/1000th Non-Cum Red Perp Pfd Shs Series GG(BAC-B.US), Goldman Sachs Group, Inc.(GS.US), Citigroup Inc Warrants 2011-4.1.19 on Shs(C.US), Wells Fargo & Co Depositary Shs Repr 1/1000th 4.25% Non-Cum Perp Red Pfd Rg Shs A Ser -DD-(WFC-D.US) and peers are expected to post double‑digit revenue growth, driven by elevated Fed rates, wider net interest margins, surging trading, and rebounding investment‑banking, including SpaceX IPO fees and upcoming AI listings. Read in detail>>

SK Hynix Shares Slide After Nasdaq Debut

• SK hynix Inc.(SKHY.US) Seoul shares fell 12.89% to KRW 1.89 million as investors took profits following a $26 billion NASDAQ(IXIC.US) ADR listing, despite ADRs rising 12.76%; analysts cite supply uncertainty, valuation concerns, upcoming Q2 earnings and corrective, not fundamental, pressure. Read in detail>>
• SK Hynix Inc.(SKHYV.US) Q1 2026 revenue sees US capturing over 64% as domestic market cools.

TSMC Revenue Surges On AI Chip Demand

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) reported June revenue of NT$442.68 billion, up 6.2% month-on-month and 67.9% year-on-year, with H1 2026 sales rising 35.6%, driven by constrained AI chip supply and N3 capacity, underpinning premium valuation and bullish targets. Read in detail>>

Tesla Shifts From Model S/X To Optimus

• Tesla Motors, Inc.(TSLA.US) halts Model S and X production at Fremont to repurpose lines for Optimus humanoid robots, with plans for up to 40 lines, while Model Y tops June 2026 Chinese sales and shares trade premarket at $402.33, down 1.33%. Read in detail>>
• Tesla Motors, Inc.(TSLA.US) delivered 480,126 vehicles in Q2 2026, up 25% YoY, but shares fell 8% on the news and are down 9% YTD.

Meta Expands Louisiana Data Center Capacity

Meta Platforms(META.US) will expand its Richland Parish, Louisiana data center to 5 gigawatts of computing capacity, committing over $50 billion of regional investment, signaling aggressive infrastructure scaling for AI workloads, cloud services, and long-term data center growth. Read in detail>>

SpaceX Plans Orbital Data Centers, Starlink V3 Test

SpaceX(SPCX.US) plans orbital data centers and a 2026 Starship test launching over 20 Starlink V3 satellites, despite short-seller Jim Chanos’ skepticism; analyst praise and thermal-shield imaging tests accompany a modest 0.43% after-hours share price rise. Read in detail>>

Micron Falls As AI Boom Spurs Scrutiny

Micron Technology, Inc.(MU.US) fell about 5% premarket amid broader tech risk-off sentiment, despite remaining in a strong uptrend and consensus Buy. AI-driven DRAM profits, tight supply, and 90% market concentration with SK hynix Inc.(SKHY.US) and SAMSUNG ELECTRONICS CO(SSNLF.US) raise regulatory, subsidy, and competitive risks. Read in detail>>

Goldman Sachs Earnings Test Rally, Deal Pipeline

Goldman Sachs Group, Inc.(GS.US) faces a key earnings test after a 20% year-to-date rally, with Q2 revenue expected at $16.4 billion and EPS $14.54, driven by booming trading and investment banking, including SpaceX(SPCX.US) IPO and major M&A mandates. Read in detail>>

Netflix Earnings Scrutinized Amid Sharp Share Slump

Netflix(NFLX.US) reports earnings as its share price trades over 45% below record highs and at a four-year-low P/E, with revenue growth slowing below 15%; management plans to outline growth strategy and potentially exploit the depressed valuation for expanded share buybacks. Read in detail>>

GE Aerospace Valuation Hinges On Earnings Delivery

GE Aerospace(GE.US) prepares Q2 results under scrutiny as shares trade at a forward P/E of 43, over twice the S&P 500, with consensus expecting 16.7% revenue growth to $11.85 billion and EPS rising to $1.86, testing justification for its premium valuation. Read in detail>>

Nvidia Expands AI Footprint, Addresses Product Delay

NVIDIA Corporation(NVDA.US)CEO highlights AI-driven software transformation and workforce automation, while the company disputes reports of a one-year delay to its Kyber AI server platform and deepens life-sciences AI exposure via new collaborations with Certara, Inc.(CERT.US) and Silo Pharma Inc(SILO.US). Read in detail>>