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U.S. Market Overview:
On Monday, the major U.S. indices finished modestly lower, pressured by weakness in chipmakers as investors grew less confident that an agreement to reopen the Strait of Hormuz was imminent. The S&P 500 slipped 4.53 points, or 0.06%, to 7,753, while the Nasdaq 100 fell 100.50 points, or 0.34%, to 29,621. The Dow Jones Industrial Average declined 60.95 points, or 0.11%, to 53,975.
On the sector front, Energy (XLE), Health Care (XLV) and Materials (XLB) outperformed, while Real Estate (XLRE), Utilities (XLU) and Technology (XLK) underperformed the most.
U.S. Equity News:
Intel (INTC), a semiconductor and chip manufacturing company, slipped 4.06% after announcing a $15 billion stock offering to support capital spending and growth opportunities tied to strong AI compute demand. Underwriters have an option to purchase an additional $2.25 billion of shares.
NVIDIA (NVDA), a leading designer of AI chips and computing platforms, declined 2.86% on news the company partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish AI infrastructure financing platforms aimed at mobilizing more than $500 billion in third-party capital for AI compute development.
Apple (AAPL), a consumer electronics giant, declined 1.62% after it was downgraded to "underperform" from "hold" at Jefferies.
Trade Desk (TTD), an advertising technology company, declined 2.97% was downgraded to "sell" from "neutral" at Citigroup.
Volatility & Commodities Snapshot:
The VIX index rose 0.56 point, or 3.76%, to 15.46, while the U.S. 10-year Treasury yield fell 34.4 basis points to 4.703%.
In the commodities market, gold gained $47.75, or 1.10%, to $4,389.46, while silver jumped $2.21, or 3.47%, to $65.76. WTI crude oil surged $4.04, or 5.17%, to $82.22.
Europe Market Overview:
At the European close, the major indices in the region finished mixed. Germany's DAX rose 4 points, or 0.02%, to 26,323, while France's CAC 40 gained 11 points, or 0.13%, to 8,726. The U.K.'s FTSE 100 declined 38 points, or 0.35%, to 10,862.
Foreign Exchange & Crypto Wrap:
The dollar index rose 0.28 point, or 0.28%, to 99.814.
EUR/USD fell 17 pips, or 0.15%, to 1.1541.
GBP/USD advanced 15 pips, or 0.11%, to 1.3503.
USD/JPY jumped 155 pips, or 0.98%, to 159.33.
USD/CHF advanced 22 pips, or 0.27%, to 0.8102.
AUD/USD declined 15 pips, or 0.21%, to 0.7052.
USD/CAD edged up 1 pip, or 0.01%, to 1.3939.
Finally, in the cryptocurrency market, Bitcoin fell $1,041, or 1.60%, to $64,048, while Ethereum dropped $43, or 2.24%, to $1,876.
After hours earnings:
Rocket Lab (RKLB), a launch services and space systems company, reported record Q2 revenue of $234 million, up 62% year-over-year, while backlog surged 137% to a record $2.36 billion. The company also highlighted its planned acquisition of Iridium and guided for another record revenue quarter in Q3.
Simon Property Group (SPG), a REIT focused on shopping, dining and mixed-use properties, reported Q2 Real Estate FFO of $3.29 per share, up 7.9% year-over-year, and raised its full-year 2026 Real Estate FFO guidance.
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