
U.S. equities opened the week with little momentum as traders kept risk-taking in check ahead of a packed economic and geopolitical calendar. Tuesday brings the release of July's inflation report, with economists expecting both headline and core annual inflation to tick higher to 2.9% and 3%, respectively.
- MAGS ETF is moving fast. Check the chart here.
Later in the week, attention will shift to Friday's high-profile meeting between President Donald Trump and Russian President Vladimir Putin in Alaska.
By midday in New York, the S&P 500 and Nasdaq 100 posted modest gains, while the Dow Jones Industrial Average remained flat.
In the semiconductor space, Trump confirmed that Nvidia Corp. (NASDAQ:NVDA) and Advanced Micro Devices Inc. (NASDAQ:AMD) will pay a 15% fee to the U.S. government on chip exports to China in exchange for export licenses.
AMD climbed 2.5% and Nvidia edged up 0.3%. Intel Corp. (NASDAQ:INTC) jumped 6% after CEO Lip-Bu Tan scheduled a meeting with Trump to discuss potential collaboration with the federal government.
Trump also announced measures to address crime in Washington, DC, announcing a public safety emergency that will see 800 National Guard troops deployed to the capital, with the possibility of expanding the plan to other cities.
On currency markets, the US dollar strengthened, with the dollar index up 0.3%. Commodities traded broadly lower, with gold sliding 1.63% to $3,345 and silver down 1.5% to $37.73.
In crypto, Bitcoin (CRYPTO: BTC) rebounded 1.2% to $120,000 after retreating from $122,300 hit during the weekend, staying within striking distance of its mid-July record high of $123,236.
Monday’s Performance In Major US Indices, ETF
Major Indices | Price | Chg % |
Nasdaq 100 | 23,700.96 | +0.4% |
Russell 2000 | 2,225.23 | +0.3% |
S&P 500 | 6,407.33 | +0.3% |
Dow Jones | 44,188.97 | 0.0% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) inched 0.2% up to $586.91.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) flattened at $441.63.04.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 0.3% to $576.22.
- The iShares Russell 2000 ETF (NYSE:IWM) gained 0.3% to $220.84
- The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 0.7%; the Energy Services Select Sector SPDR Fund (NYSE:XLY) lagged, down 0.7%.
Monday’s Stock Movers
- Albemarle Corp. (NYSE:ALB) rallied 8% after a major lithium mine halted operations in China.
- Micron Technology Inc. (NASDAQ:MU) rose 3% after the company hiked its four-quarter revenue guidance to $11.2 billion, up from $10.7 billion.
- Ford Motor Co. (NYSE:F) fell 2% after unveiling plans to launch a new line of affordable EVs in 2027, including a midsize pickup starting at $30,000.
- e.l.f. Beauty Inc. (NYSE:ELF) rallied 9% after Morgan Stanley upgraded the stock to overweight and lifted its price target from $114 to $134.
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