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Nvidia readies a bigger buyback push after a $1 trillion drop
NVDA has shed roughly $1 trillion in market value since its May peak and now trades around 18x forward earnings, cheaper than the S&P 500. Nvidia says it may accelerate buybacks, expanding its capital-return program with an $80 billion plan plus $39 billion remaining, and has boosted the dividend. While margin pressure and competition remain headwinds, bulls see buybacks as a floor and a tool to support the AI infrastructure story.
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Oil jump drags U.S. stocks lower as US-Iran tensions flare
U.S. stocks drifted lower as oil surged on renewed US-Iran tensions, with the Dow down about 1.1%, the S&P 500 down 0.3%, and the Nasdaq near flat after earlier losses, as crude prices climbed roughly 5% and the market awaited Fed minutes amid rising bond yields.
Global markets wobble as oil climbs on Iran tensions
European stocks opened lower as oil prices rose after U.S. strikes on Iran; Asia-Pacific markets were mixed, with South Korea’s Kospi entering a bear market and briefly trading halted as Samsung and SK Hynix fell, while Hong Kong rose and mainland China declined. Oil surged, lifting energy names across Europe, and gold fell after a brief safe-haven rally. The roundup also notes tech’s outsized role in U.S. earnings growth, underscoring the tech-market link in current sentiment.
Samsung Profit Spark, AI Chip Stocks Pause
Samsung reported a Q2 operating profit of 89.4 trillion won (about $58.4 billion) and revenue of 171 trillion won, driven by strong AI memory demand, but AI memory and broader chip stocks nonetheless fell in Korea and the US as investors lagged behind the rally and questioned whether the AI infrastructure boom was already priced in. Major declines hit Samsung, SK hynix, Micron, Western Digital, Seagate, and Sandisk, with Nvidia, AMD, Marvell, Intel, Lam Research, Applied Materials, and ASML also trading lower.
Memory stocks plunge as AI chip rally enters bear territory
Micron, Samsung, SK Hynix and the Roundhill Memory ETF have fallen more than 20% from June highs, dragging broader semiconductor shares into a bear market as investors question how much good news was already priced in, even as Samsung still posted strong profits and AI memory shortages persist and the sector has yet to give up its rally gains since late March.
Oil in a Post-Iran War World: Resilience Meets Uncertainty
Post-Iran conflict, oil markets show resilience as the global economy absorbs costs, but signals are murky: missing-barrel math, a surprising drop in China’s imports, and rising emphasis on reserves and reliable supply chains suggest continued volatility. Prices sit around $70 with potential moves toward $80 to sustain momentum, dependent on eventual buyer reentry, inventory recovery, and a pause in emergency stock releases.
Micron Slumps in Premarket Trading as Tech Rout Dampens Semiconductors
Micron Technology shares fell about 6% in premarket trading as a broader tech sell-off hit semiconductors; the move came after Samsung’s strong results sparked a sell-the-news reaction, with the longer-term case aided by rising memory prices, though traders may be taking profits after a recent rally.
AI Valuation Fears Drag Asia Markets Despite Samsung's Record Profit
Asia’s stock markets fell as investors dumped highly valued chipmakers on concerns that AI-driven profit growth may not sustain current valuations, even after Samsung Electronics posted a record quarterly profit. The selloff spread from South Korea to Japan and Taiwan, with oil-price moves and evolving macro cues keeping sentiment cautious.
AI Focus Keeps Markets Cautious as Dow Reaches Fresh High and Futures Dip
U.S. stock futures edged lower after a record-setting session, with Dow futures up about 0.1%, S&P 500 futures down about 0.1%, and Nasdaq-100 futures down around 0.6%. Monday’s tech-led rally sent the Dow to a new high, and traders are watching AI-driven demand as Samsung Electronics prepares earnings and Penguin Solutions is set to report, signaling ongoing focus on chips and AI trends.
SpaceX’s Nasdaq-100 Debut Could Turbocharge Options Activity
SpaceX’s upcoming Nasdaq-100 inclusion is likely to lift options pricing for both the stock and the index, with about 1% weighting in QQQ and a high implied volatility around 92 (roughly 3.5x QQQ). Traders have been bullish on SpaceX options, evident in heavy call volumes—top contracts included a 450-strike call for July 17 and an 180-strike call expiring Friday—as hedges and speculative bets ride on SpaceX’s volatility. The index impact should be modest due to float restrictions, but passive buyers and hedging could keep demand for options elevated. SpaceX traded near $160 after a recent dip.
Hedge funds cool on chip names as AI hype wanes, marking a fourth straight week of selling
Goldman Sachs data show U.S. hedge funds sold tech hardware for a fourth consecutive week, led by semiconductors, as concerns about AI-spending and delayed returns weighed on the sector. Funds shifted toward index/ETF bets after a string of net-seller days, with last week seeing more stocks sold than bought and notable activity across tech, industrials, and discretionary names; the SOX index fell about 4.2% for the week.