This content was published on
July 7, 2026 - 14:33
5 minutes
(Bloomberg) — Stocks fell as volatility hit chipmakers anew after blowout earnings from Samsung Electronics Co. left investors wanting even more. Bonds slipped as Brent crude headed for the biggest gain in more than a week.S&P 500 contracts dipped 0.1%. Samsung, the world’s biggest memory maker by market value, tumbled as much as 11% in Seoul. Its quarterly report failed to wow traders even after profit surged 19-fold. Peers such as Micron Technology Inc. and Sandisk Corp. slid more than 4% in US premarket trading. Nasdaq 100 futures were down 0.9%, with SpaceX joining the index Tuesday.Semiconductor stocks are facing fresh scrutiny after an unprecedented rally, with traders questioning lofty valuations and whether hundreds of billions of dollars in spending on artificial-intelligence infrastructure can continue. The volatility is also driving investors to left-behind sectors within tech and across the broader market.More than 60% of the Stoxx 600’s members rose in Europe even though the index was little changed. AI hyperscalers such as Meta Platforms Inc. and Amazon.com Inc. gained in early trading. Microsoft Corp. strengthened 1.3% alongside an advance in software stocks.“Overnight was ugly, despite a monster Samsung operating profit beat,” said Rich Privorotsky, head of European One Delta trading at Goldman Sachs Group Inc. “Classic ‘travel-then-arrive’ price action.”Brent crude rose 0.8% to $72.60 a barrel following attacks on shipping in and around the Strait of Hormuz, highlighting continued risks to vessels in the critical waterway. Bonds slipped globally as money markets added to bets on tighter monetary policy, pushing the yield on 10-year Treasuries up two basis points to 4.49%.While investors expect SpaceX’s inclusion in the Nasdaq 100 to trigger some mild swings, the rocket and AI company is winning a clear buy consensus. At least six brokers, including Morgan Stanley, Goldman Sachs Group Inc. and UBS Group AG, have initiated coverage of the stock with buy-equivalent ratings.“The SpaceX inclusion will undoubtedly cause some volatility today, but ultimately it should benefit shareholders through improved liquidity,” said Michael Field, chief equity strategist at Morningstar. “Short-term pain, long-term gain.”For Marija Veitmane, head of equity research at State Street Global Markets, the latest tech selloff in tech again creates a buying opportunity.“Samsung earnings confirmed the insatiable demand for everything IT that the AI revolution has created,” she said. “There is no other sector that has similar earnings power.”In Japan, the yen was a touch stronger around 161.80 per dollar even as positioning data showed hedge funds turned the most negative on the currency since 2007. Gold and the dollar were little changed.Corporate News:Amazon.com Inc. is looking to raise at least $25 billion from a US dollar bond sale, its latest funding push as the company ramps up investment in artificial intelligence infrastructure. China’s DeepSeek is developing its own chip to help power artificial intelligence systems, Reuters reported, citing unnamed sources. Rivian Automotive Inc. is offering to sell 75 million shares as the electric vehicle company seeks to fund equity contributions related to a US Department of Energy loan. Its shares tumbled in premarket trading. De Beers has made some of the deepest ever cuts to its official diamond prices, potentially signaling an end to its years-long campaign to hold them well above the market rate. Shell Plc said it delivered another strong oil and gas trading result in the second quarter as it benefited from the market turmoil caused by the Iran war.Some of the main moves in markets:StocksS&P 500 futures fell 0.1% as of 8:29 a.m. New York time Nasdaq 100 futures fell 0.9% Futures on the Dow Jones Industrial Average rose 0.3% The Stoxx Europe 600 was little changed The MSCI World Index was little changed CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1442 The British pound was little changed at $1.3390 The Japanese yen rose 0.2% to 161.80 per dollar CryptocurrenciesBitcoin fell 0.2% to $63,660.59 Ether fell 0.1% to $1,789.83 BondsThe yield on 10-year Treasuries advanced two basis points to 4.49% Germany’s 10-year yield advanced two basis points to 2.97% Britain’s 10-year yield was little changed at 4.80% CommoditiesWest Texas Intermediate crude rose 0.7% to $69.03 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.–With assistance from Abhishek Vishnoi and Jan-Patrick Barnert.©2026 Bloomberg L.P.
