Morning Preview: July 07, 2026

Early Look

Tuesday, July 7, 2026

After a strong showing to kick off the trading week on Monday, U.S. futures are looking lower as record operating profit from Samsung overnight failed to impress Wall Street, with Nasdaq futures underperforming after leading markets higher yesterday. Chip stocks (SOX) also slip after Reuters reported Chinese startup DeepSeek is developing its own AI chip, according to three people familiar with the matter, a push that could reduce its reliance on Nvidia (NVDA) and Huawei chips. Oil prices are higher overnight along with Treasury yields in a relatively quiet week of economic data.

U.S stock markets rose on Monday as pressure on the tech sector eased, with chip stocks shaking off a recent dip. The tech-heavy Nasdaq Composite led, rising 1.1%, while the S&P 500 climbed 0.7% and the Dow Jones Industrial Average closed above 53,000 for the first time on the heels of a record-setting, holiday-shortened week for the blue-chip benchmark index. Gains were led by semis (SOX) and large cap tech (AAPL, TSLA, META), which has been the recipe for market gains over the last few months.

In Asian markets, The Nikkei Index tumbled -1,480 points to 68,256, the Shanghai Index fell -51 points to 3,990, and the Hang Seng Index declined -119 points to 23,496. In Europe, the German DAX is down -148 points to 25,669, while the FTSE 100 is up 26 points to 10,678. U.S. Treasury yields moved higher across the curve as investors trimmed expectations for near-term monetary easing. The benchmark 10-year Treasury yield rose about 3 basis points to 4.51%, while the 2-year yield climbed nearly 4 basis points to 4.15%.

• The Dow Jones Industrial Average rose 155.84 points, or 0.29%, to 53,055.91
• The Nasdaq Composite gained 288.49 points, or 1.12%, to 26,121.16
• The Russell 2000 Index advanced 13.43 points, or 0.45% to 3,009.54

• 8:30 AM ET                  International Trade for May
• 8:30 AM ET                  Advance Goods Trade Balance for May
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 1:00 PM ET US Treasury to auction $58B in 3-year notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: EPAC KRUS PENG SAR

• Toyota (TM) to build $3.6B plant in Texas, shift some truck production from Mexico to United States.

• Ferguson (FERG) downgraded to Neutral from Buy at Goldman Sachs (tgt to $265 from $315) saying that in the near term, it expects topline growth to remain subdued, with volumes impacted by ongoing weakness in residential construction markets.
• First Solar (FSLR) upgraded to Buy from Hold at Deutsche Bank with a $272 price target.
• Planet Labs PBC (PL) announced the successful launch of Pelican-11, the tech demonstration satellite (TD2) for the second generation (Gen 2) of its high-resolution Pelican fleet.
• Shell (SHEL) said it anticipates a significant increase in its oil and LNG trading results for the second quarter, attributing the expected windfall to extreme volatility in energy commodity markets driven by geopolitical events. The company’s trading and optimization results in integrated gas are projected to be substantially higher than in the first quarter.
• SpaceX (SPCX) Initiated with a Strong Buy rating and a $800 price target at Raymond James saying they see the company as one of the defining industrial infrastructure companies of the 21^st Century. Industrialized access to orbit and Ai are driving the most significant infrastructure convergence since the advent of the Internet.
• TechnipFMC (FTI) awarded significant contract by Eni for Baleine phase 3 offshore Côte d’Ivoire; contract valued between $75M and $250M included in Q2 2026 inbound orders.

• Equifax (EFX) announces definitive agreement to acquire Círculo De Crédito in Mexico for a purchase price of $825M as the deal expected to be accretive to Equifax adj EPS in first full year.
• Fiserv (FISV) shares rise pre mkt after the WSJ reported big banks have held talks about a potential deal to acquire a network owned by the financial technology company that could allow the lenders to bypass federal debit-card fee caps https://tinyurl.com/55y2jjp8

• Vertex (VRTX) to buy Crinetics (CRNX) for $85 per share in $10B deal. Vertex plans to finance the deal using cash on hand and debt, supported by $4.5B in committed Bridge financing from Bank of America, N.A. and Morgan Stanley Senior Funding, Inc.
• RxSight, Inc. (RXST) announces preliminary second quarter financial results and product pipeline updates following strategic collaboration agreement; sees Q2 revs $27M vs. consensus estimate $32.1M; Alcon (ALC) and RxSight announce collaboration.

• Chinese startup DeepSeek is developing its own AI chip, according to three people familiar with the matter, a push that could reduce its reliance on Nvidia (NVDA) and Huawei chips, which it has depended on to train and run its globally popular models. The chip is designed for inference rather than for training new models. – Reuters
• IBM (IBM) introduced new configurations for its z17 and LinuxONE 5 systems, marking the first time the tech giant has offered both rack mount and single frame options across its entire Z and LinuxONE portfolio.
• Meta Platforms (META) said four U.S. states are seeking about $1.4T in civil penalties in a lawsuit accusing the company of designing Facebook and Instagram to addict young users and misleading the public about the platforms’ safety.
• Salesforce (CRM) said it will invest $1B in Switzerland over the next five years to accelerate the country’s adoption of agentic AI, expanding its long-term presence in one of Europe’s leading technology, finance, and innovation hubs.
• Synopsys (SNPS) plans to stop offering a suite of manufacturing process control software used by global semiconductor makers, Reuters reported citing six sources briefed on the matter said, as it seeks to divert resources to higher-margin offerings such as AI design. Synopsys in April and May informed more than 10 chipmakers including Samsung Electronics, SK Hynix, Kioxia Holdings Corp and Qorvo Inc (QRVO) about the “end of life” move that means Synopsys will not provide future new versions and will only carry out maintenance obligations