Dow futures near 53,000 as chip stocks attempt rebound

3 months ago 15

Cris Tolomia

Mon, July 6, 2026 astatine 6:35 AM CDT 2 min read

Futures pointed higher aft the three-day Independence Day break, with Nasdaq-100 contracts climbing 1.1% and those tracking the S&P 500 adding 0.4%, portion the Dow tied to the Dow hovered conscionable shy of the 53,000 milestone.

Tech stocks led aboriginal gains. Among idiosyncratic names, Western Digital precocious astir 3% and Teradyne jumped astir 4%, helping assistance the State Street Technology Select Sector SPDR ETF by much than 1%; Marvell Technology and Oracle each posted gains of much than 3% and much than 2% successful that order.

The rebound successful tech came aft a hard agelong for semiconductors. Chipmakers extended their pullback, with the VanEck Semiconductor ETF dropping 3.2% to log a 2nd consecutive week of losses. Mark Newton, caput of method strategy astatine Fundstrat, noted the weakness had not undermined the broader market. "The broadening successful assemblage rotation is simply a large positive, with Financials, Healthcare, and Industrials each closing astatine caller play all-time highs this week and much than offsetting the consolidation successful Semis," Newton wrote, according to CNBC. "While the Semi diminution is simply a short-term headwind that favors owning different sectors portion it settles, it has not dented the broader indices."

Last week's rally pushed the Nasdaq Composite up 2.1%, portion the S&P 500 roseate 1.8% to decorativeness astatine 7,483.24.

Investor attraction this week volition halfway connected the Federal Reserve. Wednesday brings the merchandise of Fed minutes covering Kevin Warsh's inaugural gathering arsenic chair, a papers investors volition scrutinize for immoderate hints astir wherever borrowing costs are headed, according to The Wall Street Journal.

The week besides carries respective tests for AI-related appetite. A quarterly concern update from Samsung arrives Tuesday, portion SK Hynix's planned $29 cardinal U.S. listing — which would spot it among the astir invaluable stock offerings ever recorded — is expected to terms aboriginal successful the week, according to the Journal. SpaceX is besides acceptable to articulation the Nasdaq-100 connected Tuesday.

Elsewhere successful markets, crude prices slipped aft the OPEC+ confederation voted to grow accumulation for the 5th consecutive month. Having touched a four-decade trough against the dollar successful the anterior week, the yen stood astatine 162.24 to the dollar connected Monday. Across the Atlantic, the pan-European Stoxx 600 edged down 0.2% amid subdued trading, and a mixed league wrapped up crossed Asia-Pacific.

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