Morning Preview: July 13, 2026

Early Look

Monday, July 13, 2026

U.S. futures are looking lower as Nasdaq futures are pressured, down nearly 1% amid weakness in memory stocks (MU, SNDK, SKHY) in a week filled with multiple market catalysts. Stock futures fell slightly on Sunday night 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. Iran and the U.S. again traded airstrikes over the weekend, with Tehran targeting U.S. facilities in multiple Gulf countries and declaring the Strait of Hormuz closed. The moves came ahead of a busy week of economic data and corporate earnings that could test the resilience of the U.S. equity rally. In Asian markets, The Nikkei Index dropped 1,315 points or 1.92% to 67,242, the Shanghai Index tumbled -82 points to 3,913, and the Hang Seng Index rose 38 points to 24,213. In Europe, the German DAX is up 51 points to 25,118, while the FTSE 100 slips a few points to 10,490.

Important items this week include: 1) Earnings as some of the biggest financial companies in the world report this week including JP Morgan, Goldman Sachs, Citigroup, Wells Fargo and others as well as healthcare giants (and Dow components) JNJ and UnitedHealth; 2) inflation data on deck with consumer prices (CPI) and producer prices (PPI) midweek; 3) newly appointed FOMC chair Kevin Warsh will testify before Congress for the first time as Fed chair on tuesday; 4) and of course any new developments between the US and Iran will likely impact commodity/stock markets.

• The Dow Jones Industrial Average rose 149.60 points, or 0.29%, to 52,637.01
• The Nasdaq Composite gained 74.72 points, or 0.29%, to 26,281.61
• The Russell 2000 Index declined -14.74 points, or 0.49% to 2,977.81

• Earnings After the Close: AERO FBK

• China urged the restoration of safe and free passage through the Strait of Hormuz following Iran’s announcement of its closure amid new strikes with the United States. Foreign Ministry spokesman Lin Jian stated that maintaining free navigation serves the interests of all nations.
• Lindsey Graham, the South Carolina Senior senator died on Saturday. He was 71. The cause of death was “a brief and sudden illness,” Graham’s Office said in a post on X that offered no additional details.

• Deckers Outdoor (DECK) was upgraded to Buy from Hold at Jefferies and raise tgt to $130 from $110 saying the company’s EBIT growth has slowed as the business has matured and faced macro headwinds, this is now reflected in shares.
• MGM Resorts (MGM) has been in talks over a potential deal with Barry Diller’s People Incorporated after the media mogul offered to acquire the casino giant, the Wall Street Journal reported.
• Stellantis (STLA) said preliminary Q2 vehicle shipments rose 10% from a year earlier to nearly 1.6 million units, driven by strong growth in North America.
• The U.S. Justice Department has opened a grand jury investigation into allegations that United Auto Workers President Shawn Fain sought special benefits for his fiancée and her sister, Bloomberg News reported Sunday, citing internal union communications.

• Artisan Partners Asset Management Inc. (APAM) reports preliminary June Assets under management (AUM) of $183.4B as of June 30, 2026.
• Brookfield Asset Management (BAM) is in exclusive talks to acquire a stake in Hudson Square Properties in a transaction that would value the Manhattan office portfolio at roughly $3.5B.

• Biogen (BIIB) was upgraded to Buy from Hold at Truist and raise tgt to $235 from $190 ahead of the Phase 2 BIIB080 data presentation at AAIC next week and the approaching Phase 3 pipeline readouts with litifilimab due in Q4.
• Conmed (CNMD) is said to weigh sale after takeover interest- Bloomberg news reported.
• Humana (HUM) was upgraded to Overweight from Equal Weight at Wells Fargo and raised tgt to $502 from $227 as expects constructive Q2 earnings reports from managed care companies.

• Apple (AAPL) has sued OpenAI and one of its lead executives, alleging that the artificial-intelligence lab attempted to steal confidential information from the iPhone maker. The lawsuit, filed in the U.S. District Court for the Northern District of California, names two former Apple employees, Chang Liu and Tang Yew Tan, as defendants alongside OpenAI.
• Meta (META) said its data center in Richland Parish, Louisiana will expand to 5 gigawatts of compute capacity, in a bid to support the social media company’s AI ambitions. Since breaking ground in December 2024, local Louisiana businesses have received more than $1.6B in contracts from Meta.
• Paramount Global (PSKY) is considering whether to shift more of its operations and spending outside California if state regulators move to block its proposed $110 billion acquisition of Warner Bros. Discovery (WBD), Semafor reported Sunday.
• Taiwan Semiconductor (TSM) Q2 revenue touched NT$1.27T, or $39.63B, exceeding market expectations, driven by strong demand for chips used in AI, and in the company-guided range of $39B to $40.2B, and beats market consensus of $39.31B. Q2 revenue climbed 36% Y/Y from NT$933.8B a year earlier.