On Monday, July 6, 2026, major U.S. stock indexes closed higher, largely fueled by strong performance in AI and semiconductor companies. The S&P 500 rose 0.72% to 7,537.43, the Nasdaq Composite climbed 1.16% to 26,121.16, and the Dow Jones Industrial Average added 0.30% to 53,055.91, even reaching above 53,000 during the session. This surge was primarily concentrated in a narrow group of tech and AI-related stocks, with market breadth lagging as falling S&P 500 stocks outnumbered gainers by approximately 1.3 to 1.
Broadcom was a significant market driver, soaring 4.4% after announcing an expanded custom chip partnership with Apple through 2031. This deal is crucial as Apple accounts for about 20% of Broadcom’s annual revenue. Apple also saw a gain of 1.5%. South Korean chipmaker SK Hynix influenced the market by launching a U.S. share sale to raise 43 trillion won ($28.07 billion) and secured indications of interest up to $7 billion from major investors. Microsoft, however, slipped 0.85% after revealing plans to cut around 4,800 jobs, or 2.1% of its global workforce, with 3,200 from Xbox, a move analysts suggest is to fund AI investments. TeraWulf shares increased 5.1% after detailing a new $19 billion, 20-year lease for an AI infrastructure campus.
Oil prices remained relatively flat, with U.S. crude steady at $68.69 a barrel and Brent falling just 0.03% to $72.10 per barrel, hovering around pre-Iran war levels. The calming in oil prices helped slow the increase in services inflation. Gold prices were down 0.29% at $4,163.10 an ounce. The yield on benchmark U.S. 10-year notes fell 0.77 basis points to 4.471%. Investors are now looking ahead to upcoming corporate earnings, with analysts expecting S&P 500 second-quarter earnings to rise 24% year-over-year, and tech earnings to surge by nearly 65%.
